Brisbane, Queensland, Australia - (October 21, 2024) - Graphene Manufacturing Group Ltd. (TSX-V: GMG) is pleased to provide a business update on the government engagement progress for the Company.
GMG continues to engage with various members of Australian Federal Government, including a recent visit to the Australian Parliament in Canberra to see the Honourable Senator Tim Ayres, Assistant Minister for Trade and Assistant Minister for a Future Made In Australia, to discuss GMG's battery manufacturing progress and how a number of Federal Government policies including the Future Made in Australia Battery Breakthrough could potentially support GMG.
GMG also met the Speaker of the House of Representatives, the Honourable Milton Dick, to share GMG's progress since his visit to GMG's Facilities in Richlands, Queensland in 2023 when Milton formally opened the Graphene coating blend plant.
GMG then met the Queensland Senator, the Honourable Anthony Chisholm, to share GMG's progress since Anthony's visit to GMG's Facilities in Richlands, Queensland in 2022.
GMG's Managing Director and CEO, Craig Nicol, commented: "GMG continues to engage Government at all levels, including local, state and federal government, with the aim to help ensure its leading energy saving and energy storage products align with government policy to support the energy transition."
GMG's Chairman and Director, Jack Perkowski, commented: "We believe that Engagement with Government is important in the very dynamic markets GMG is focused on selling its product into, and we plan to continue engaging with Government as policies are rolled out in various key markets around the world."
About THERMAL-XR®
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
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. See www.graphenemg.com.
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 coating), 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 are:
- Produce Graphene and improve/scale cell production processes
- Build Revenue from Energy Savings Products
- Develop Next-Generation Battery
- Develop Supply Chain, Partners & Project Execution Capability
For further information please contact:
Craig Nicol, Chief Executive Officer & Managing Director of the Company, E:[email protected], T: +61 415 445 223
Leo Karabelas, Focus Communications Investor Relations, E: [email protected], T: +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 which are not historical facts, are made as of the date of this news release and include without limitation, the potential for Federal Government policies to support GMG, the Company's belief that Engagement with Government could support GMG and help ensure its products align with government policy to support the energy transition, the potential for THERMAL-XR® to enable energy producers to produce additional energy more efficiently, the Company's goal of achieving optimal production line performance for THERMAL-XR® and the entering of full production.
Federal Government policies do not support GMG to the extend expected or at all, that Engagement with Government does not support GMG and/or does not ensure its products align with government policy to support the energy transition to the extend expected or at all, that there will be no developments of extensions or enhancements to the THERMAL-XR® portfolio into a wider range of applications, that energy producers will not derive the expected benefits from the Company's products, that the Company will be unable to achieve optimal production line performance for THERMAL-XR® or enter full production, risks relating to the extent and duration of the conflict in Eastern Europe and its impact on global markets, the volatility of global capital markets, political instability, the failure of the Company to obtain regulatory approvals, attract and retain skilled personnel, unexpected development and production challenges, unanticipated costs and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated October 3, 2024 available for review on the Company's profile at www.sedarplus.ca.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/227262.
