Brisbane, Queensland, Australia–(Newsfile Corp. – November 13, 2023) – Graphene Manufacturing Group Limited (TSXV: GMG) (“GMG” or the “Company”) is pleased to provide a business update on the battery development partnership with Rio Tinto (“Rio Tinto”). The launch of this promotional video will celebrate the partnership between GMG and Rio Tinto to develop graphene aluminium ion batteries.
On the 18th May 2023, GMG announced that GMG and Rio Tinto had signed a binding Joint Development Agreement (“JDA”) with the goal of accelerating the development and application of GMG’s Graphene Aluminium-Ion batteries in the mining and minerals industry. Rio Tinto will contribute technical and operational performance criteria and A$6 million, in exchange for preferential access rights.
Rio Tinto has put the net zero transition at the heart of its business strategy: combining investments in commodities that enable the energy transition with actions to decarbonise their operations and value chains. The JDA seeks to support the accelerated development of GMG’s Graphene Aluminium-Ion Batteries for use in heavy mobile equipment and grid energy storage applications in the mining and mineral industry.
The JDA builds on the existing collaboration for Rio Tinto to explore the use of GMG’s Energy Saving and Energy Storage solutions (see Company announcement on 18th May 2022). The JDA aims to co-develop GMG’s Graphene Aluminium-Ion battery pouch cell into an initial battery pack/module proof of concept. Rio Tinto will seek to involve Original Equipment Manufacturers (“OEMs”), including Heavy Mobile Equipment OEMs, to work with GMG and Rio Tinto to align the battery pack development with end-use requirements.
Success could see performance enhancements for Rio Tinto, including faster charging and longer-life batteries for heavy mobile equipment and grid energy storage, as well as supporting Rio Tinto’s decarbonisation ambitions.
GMG will retain ownership of the intellectual property of the GMG Graphene Aluminium Ion Battery Pouch Cell and Battery Pack. Upon successfully completing the joint project, Rio Tinto will have the right to procure and use the batteries in their operations.
Rio Tinto Chief Scientist, Nigel Steward, said, “We are excited with the progress made with our partnership with GMG to date. We both share a vision of a low-carbon future and for Rio Tinto, it’s a crucial time to partner with companies like GMG to accelerate battery technology and innovation. We are looking forward to continuing our collaboration and leveraging our combined expertise and resources to develop a truly green battery that has the potential to improve the way we supply and store energy.”
GMG’s Managing Director and CEO, Craig Nicol, commented: “GMG is genuinely excited about our ongoing collaboration with Rio Tinto, one of the world’s largest mining companies who are committed to leveraging leading technologies for efficient and low carbon operations. We are happy with the progress to date with our joint development with Rio Tinto on the Graphene Aluminium-Ion battery and their applications.”
Jack Perkowski, GMG’s Chairman, commented: “I am very pleased with the progress made between GMG and Rio Tinto on battery development and look forward to seeing the next stages of the development program rollout. We are proud to be chosen as Rio Tinto’s partner.”
About GMG www.graphenemg.com
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”).
GMG’s 4 critical business objectives remain to:
- Produce Graphene and improve/scale the production process
- Build Revenue from Energy Savings Products
- Develop Next-Generation Battery
- Develop Supply Chain, Partners & Project Execution Capability
About THERMAL-XR® powered by GMG Graphene:
THERMAL-XR® COATING SYSTEM is a unique method of improving the conductivity of corroded heat exchange surfaces and improving and maintaining the performance of new units at peak levels. The process coats and protects heat exchange surfaces while improving and rebuilding the lost corroded thermal conductivity and increasing the heat transfer rate by leveraging the physics of GMG Graphene, resulting in an efficiency improvement and a potential power reduction.
THERMAL-XR RESTORE® is powered by GMG Graphene. PATENT PENDING
For further information please contact:
- Craig Nicol, Chief Executive Officer & Managing Director of the Company at firstname.lastname@example.org, +61 415 445 223
- Leo Karabelas at Focus Communications Investor Relations, email@example.com, +1 647 689 6041
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