BRISBANE - Graphene Manufacturing Group Ltd. (TSX-V: GMG) ('GMG' or the 'Company') is pleased to provide the latest progress and performance update on its Graphene Aluminium-Ion Battery technology being developed by GMG and the University of Queensland ('UQ') and the GMG battery grade graphene production quality program.
Notably, this update includes information about GMG's G+AI Battery regarding: GMG's Graphene Aluminium-Ion Battery calculated energy density has increased to 290-310 Wh/kg, an increase of 93% since the last battery update on 22nd June 2021
Power density has also increased to around 9,350 W/kg, a 33% increase since previous update
Battery cell enhancements and repeatability
Growing confidence in repeatability of battery grade quality graphene production at scale
Ongoing development from GMG's Battery Team has resulted in a significant increase in battery performance of GMG's Graphene Aluminium-Ion Battery. Latest testing data has demonstrated a calculated energy density that has increased by 93% from 150-160 Wh/kg to 290-310 Wh/Kg since the last battery update on the 22nd of June 2021 ('Previous Announcement').
Performance data presented in this release was calculated off GMG's specific coin cell design and testing data, which has been separately verified by the Australian Institute for Bioengineering and Nanotechnology at the UQ as against other aluminium ion batteries and two commonly used lithium-ion batteries produced and used worldwide.
GMG's CEO Craig Nicol stated, 'These results show the promise of GMG's Graphene Aluminium Ion Battery in terms of performance on top of previously announced longevity and sustainability advantages. The outcome was the result of a large piece of work done by GMG's Battery Team to repeatably make successful batteries, improve almost all of the various components of the battery and the successful transfer of intellectual property from the UQ team.'
Guy Outen, GMG's Chair added, 'I'm delighted with this battery performance update which reflects both the tremendous creativity and hard work of all involved as well as the possibilities of our G+Al Batteries, even at this early stage in their development. This is a significant step in the development of our G+AI batteries and we look forward to the next steps towards commercialisation.'
GMG is a disruptive Australian-based clean-tech company listed on the TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance enhanced HVAC-R coating system.
Email: craig.nicol@graphenemg.com
Cautionary Note Regarding Forward-Looking Statements
This press release contains 'forward-looking information' and 'forward-looking statements' within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as 'plans', 'expects', 'is expected', 'budgets', 'scheduled', 'estimates', 'forecasts', 'predicts', 'projects', 'intends', 'targets', 'aims', 'anticipates' or 'believes' or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the testing and validation of the graphene quality produced in the Company's production process, the economical sustainability of scaling the graphene and battery production processes, the ongoing improvement of graphene quality from the GMG graphene production process and the G+AI Battery performance, the engineering and development of the coin cell and pouch cell with respect to the current battery performance estimates and calculations, the timing and considerations of potential FIDs, anticipated timelines for commercial production, anticipated next steps for the further development of the Company's products, the development and viability of GMG's production facilities, and the location of GMG's production facilities.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the deployment of the Company's resources, that the Company will not be able to test or validate the battery grade quality of graphene needed for its products, that it will not be economically sustainable to scale the graphene or battery manufacturing processes, that the quality of the graphene manufactured by GMG and the performance of the G+AI Battery will not set out to be as estimated, calculated or improve, that the Company will not be able to further develop the coin cell and pouch cell technologies, and the timing or results of any FID. Such risk factors may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates, and the market demand for the Company's products. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
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