Brisbane, Queensland, Australia–(Newsfile Corp. – March 1, 2022) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (“GMG” or the “Company”) is pleased to announce that GMG and Wood have agreed to a non-binding letter of intent, for the purpose of agreeing to the terms of constraints for Wood to design and execute major graphene manufacturing expansion projects.
Wood will support GMG in scaling and automating its proprietary graphene natural gas manufacturing process. It is the intention of the parties that Wood will become GMG’s engineering, design and construction contractor for the short and long term requirements of GMG’s graphene manufacturing plant in Australia and overseas.
Graphene is one of the key components enabling graphene aluminum-ion battery technology from GMG and the University of Queensland (“G+AI Battery”). In 2017 and 2018, GMG developed and proved its proprietary graphene production process to produce graphene from natural gas (i.e. methane). This process produces high-quality, scalable graphene suitable for use in clean technology applications, including G+AI batteries. GMG’s arrangement with Wood is intended to support the scale-up and automation of the graphene production process to meet the graphene supply needs of GMG’s targeted G+AI Battery division.
A letter of intent was previously signed with Bosch (press release October 25, 2021) for the design and delivery of targeted G+AI battery manufacturing plants. GMG and Wood will work together with Bosch to create an aligned production process from graphene manufacturing to final G+AI Battery products across all company facilities.
GMG Managing Director and CEO Craig Nicol said, “We are proud and excited to partner with Wood, a major and world-leading engineering company with a significant focus on energy transition. As we have told our shareholders, one of our current core activities is engaging with customers and industry partners for the development of the G+AI battery and this is another example of this progress. In parallel, we are also strengthening our in-house battery and graphene engineering capability through an ongoing recruitment program. The partnership already established with Bosch is another important step towards GMG’s goal of becoming a leading global supplier of G+AI batteries as we continue to de-risk the commercial scale-up of this technology. »
About the wood
Wood is a global leader in energy and built environment consulting and engineering, helping to find solutions to some of the world’s most critical challenges. Wood provides consulting, project and operations solutions in over 60 countries, employing approximately 40,000 people. www.woodplc.com
GMG is a clean technology company that seeks to offer energy saving and energy storage solutions, made possible by graphene, including those manufactured in-house through a proprietary production process.
GMG has developed a proprietary production process to break down natural gas (i.e. methane) into its elements, carbon (such as graphene), hydrogen and certain residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, “tunable” and low-to-non-contaminant graphene suitable for use in cleantech and other applications. The company’s current focus is to reduce risk and develop capabilities for commercial scaling and securing market applications.
In the energy savings segment, GMG focused on Graphene-enhanced heating, ventilation and air conditioning (“HVAC-R”) coatings (or energy-saving paint), lubricants and fluids . In the energy storage segment, GMG and the University of Queensland are working with financial support from the Australian government to advance the R&D and commercialization of graphene aluminum-ion batteries (“G+AI batteries”).
For more information, please contact:
– Craig Nicol, Managing Director and Company Managing Director at [email protected], +61 415 445 223
– Leo Karabelas at Focus Communications, [email protected], +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) accepts responsibility for the adequacy or accuracy of this press release.
Caution Regarding Forward-Looking Statements
This press release contains 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 the Company’s management 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 “potentially” or “probably” occur. Such information and statements, referred to herein as “forward-looking statements”, are not historical facts, are made as of the date of this press release, and include, without limitation, statements regarding the timing, completion and final terms and conditions of binding agreements to be entered into between Wood and the Company; Wood’s role as a technical development partner and the resulting impacts and benefits, including facilities requirements; GMG’s ability to manufacture its products and the benefits derived from such products; and the commercial evolution and technical characteristics of certain products.
These forward-looking statements involve numerous risks and uncertainties, and actual results may differ materially from the results suggested in the forward-looking statements. These risks and uncertainties include, among others, risks related to the deployment of the Company’s resources, including that GMG and Wood may not be able to agree on the terms and conditions of binding agreements; that these terms and conditions will differ from the expectations of the Company; that the results and impacts arising from the binding agreements between GMG and Wood will differ from the Company’s expectations; changes in regional and global market trends; and that the Company will not be able to research, develop and produce certain products and technologies.
In making the forward-looking statements in this press release, the Company applied several important assumptions, including, without limitation, assumptions regarding the Company’s ability to enter into binding agreements with Wood on terms consistent with the expectations of the society ; that the benefits and impacts arising from the binding agreements between the Company and Wood will be consistent with the Company’s expectations; the Company’s ability to research, develop and test its products on schedule; and market demand for the Company’s products.
Although the Company’s management has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking statements or information, there may be other factors that cause the results are not those 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 this information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statements, forward-looking information or financial outlook which are incorporated by reference herein, except in accordance with applicable securities laws. We seek refuge.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115227