Gmg receives regulatory development approval for future battery plant.
Graphene Manufacturing Group Ltd. (TSX-V:GMG) (“GMG” or the “Company”) advise of the receipt of regulatory and local council approvals for the commercial scale manufacturing of batteries at its existing Richlands site in Brisbane Australia. To date GMG has been adhering to a research and development regulatory approval to make battery cell prototypes. In addition, this site already has council approvals that allow GMG to manufacture its graphene.
These regulatory approvals are an important step in GMG’s consideration at an appropriate future time to build and operate a battery manufacturing plant at the GMG Headquarters at Richlands.
To that end, GMG continues to advance its Battery Development Roadmap, including:
– Further develop, engineer, design and test battery prototype components to achieve the user-required performance data for potentially either coin cell or pouch cell battery.
– Further design engineering and production testing of manufacturing systems to enable the manufacture of the prototypes in a semi or fully-automated process.
– Solidification of necessary supply agreements.
– Full constraints analysis of the existing building – ensuring existing warehouse and electricity supply are adequate for the final plant design and fit within the constraints of the development approval.
– Delivery of the Graphene Expansion Project and review of further expansion projects as required.
– Full battery prototype testing and quality assurance to international standards, regulations and approvals where required.
– Work towards securing battery sales agreements.
– An organisational team and financial funding requirements.
Craig Nicol, GMG’s Managing Director and CEO, commented:
This is another milestone in the maturation of the Company.
“This allows GMG to take its battery development roadmap further with reassurance that government approvals have been granted to build and operate a plant at our existing location.”
This milestone aligns with GMG’s 4 critical Business Objectives, namely
1. Produce Graphene and improve/scale production process
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability
About GMG
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (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 inputs, 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 and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils.
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GMG RECEIVES REGULATORY DEVELOPMENT APPROVAL FOR FUTURE BATTERY PLANT, BRISBANE, QUEENSLAND, AUSTRALIA, February 22, 2023
