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Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG " or the "Company") is pleased to announce that the Company has commissioned its graphene aluminium-ion batteries ("G+AI Batteries") in pouch cell format and that the first G+Al battery pouch cells have been manufactured. With the addition of the pouch cell equipment to the existing pilot production and testing plant ("Battery Pilot Plant"), GMG now has operationalised the Battery Development Centre ("BDC") to enable the productization of this technology for a wide variety of applications.
GMG's Managing Director and CEO, Craig Nicol, commented: "The commissioning of our pouch cell manufacturing equipment is another important milestone for GMG. It allows us to capitalise on the experience already gained with coin cell development and testing to open the avenues for our technology to a much broader application base. Much of the interest from prospective customers lies in our ability to productize the pouch cell, which can be found in a large range of end products ranging from personal and industrial appliances to grid batteries and EVs."
"Having our own fully equipped and staffed Battery Development Centre will further enhance our ability to co-innovate with partners that continue to express strong interest in the initial performance results and future potential of G+AI Batteries" Nicol said.
As previously announced, subject to successful commercial prototypes and a final investment decision, GMG aims to construct an initial commercial coin cell G+AI Battery manufacturing facility, followed by first production and sales of G+AI Batteries with the development of G+AI Batteries in pouch cell format occurring in parallel in the Battery Development Centre. The location of this initial commercial manufacturing facility is not yet decided but will likely be in Australia where GMG's headquarters and existing operations are located.
About GMG
GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions, enabled by graphene, including that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose natural gas (i.e. methane) into its elements, carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high quality, low cost, scalable, 'tuneable' and low/no contaminant graphene suitable for use in clean-technology and other applications. The Company's present focus is to de-risk and develop commercial scale-up capabilities, and secure market applications.
In the energy savings segment, GMG has focused on graphene enhanced heating, ventilation and air conditioning ("HVAC-R") coating (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working collaboratively with financial support from the Australian Government to progress R&D and commercialization of graphene aluminium-ion batteries ("G+AI Batteries").
For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223
- Leo Karabelas at Focus Communications, info@fcir.ca, +1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends", "expects" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or will "potentially" or "likely" occur. This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things: the productization of the pouch pack technology and its potential applications; and the effect of the BDC on innovation and partnerships.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel; the successful commercialization and industrial application of the battery pouch pack format; the market demand for the Company's products; and the results and impacts of the BDC will differ from the Company's expectations.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the benefits and impacts of the BDC; the Company's ability to research, develop and test its products within anticipated timelines; and market demand for the Company's products.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127839
