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Under the terms of the agreement, First Graphene will supply graphene to FlexeGraph, a company based at a university in Canberra to test its suitability for use in electrified systems such as batteries and high-performance computing.
First Graphene Limited (ASX:FGR) announced on Tuesday (July 24) that it has entered into a collaboration agreement with Flex-G (FlexeGraph) to supply graphene for suitability testing in their products.
The company said that it will supply graphene to FlexeGraph, a company based at a university in Canberra to test its suitability for use in electrified systems such as batteries and high-performance computing.
First Graphene, a company which has established a graphene production plant said in a press release that nanofluid coolant represented a technology breakthrough in 90 years.
Further, the company said that coolant produced out of this technology represented an 60 percent improvement in thermal conductivity as compared to traditional form of cooling
“This is an opportunity to functionalise our standard product and demonstrate yet another application which may benefit from our high quality, low cost graphene,” Craig McGuckin, managing director of First Graphene said in a release.
On the topic of using the nanofluid for high-performance cooling, the company said that it was because of its ability to charge faster at reduced capacity loses. Further, nanofluid coolant boosts the cooling of high performance computing and this reduce power consumption.
According to the company, the market size of heat transfer fluids in Australia is expected to grow to AU$4.5 billion by 2022, up from AU$3 billion mark in 2016.
FlexGraph is engaged in developing coolant products for engines, EV batteries, high performance computing and drilling and cutting fluids. It was noted by First Graphene that FlexeGraph currently sources its graphene from a university in Canberra which creates a opportunity for the company to provide large scale graphene supplies in the future.
“The ability to produce graphene at scale and at a lower cost than our competitors is a compelling advantage that will be of material assistance to our customers,” McGuckin said.
Following the announcement, shares of FGR were down 4.5 percent over the two day trading period and closed the trading session on Wednesday at AU$0.19.
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Securities Disclosure: I, Bala Yogesh, hold no direct investment interest in any company mentioned in this article.