Graphene Manufacturing Group Ltd V.GMG

RE:Summary of $GMG update

[prone]

AND now ... ---->GMG and Rio Tinto

--->to Explore the Use and Development of GMG’s Energy Saving Products

---> and Graphene Aluminium-Ion Battery 

 

Graphene Manufacturing Group Ltd. (TSX-V:GMG)  is pleased to announce that GMG and Rio Tinto have signed a non-binding agreement to collaborate on energy saving and storage solutions.

Together, GMG and Rio Tinto will explore the use of energy saving products in Rio Tinto’s operations, explore working together to support GMG’s development of Graphene Aluminium-Ion (“G+Al”) batteries, and collaborate on mining and other industrial applications.

Under a non-binding term sheet, GMG and Rio Tinto will:

• discuss conducting trials of GMG’s energy saving products in both existing applications and new industrial applications, to deliver energy savings and associated carbon reductions to support Rio Tinto’s decarbonisation objectives;

• explore supply of aluminium materials, one of the key components in G+Al battery technology, by Rio Tinto to GMG with an aim to optimise and accelerate battery development;

• investigate the use of G+Al batteries in various Rio Tinto mining and industrial applications. Success could see significant performance enhancements and support Rio Tinto’s transition to low carbon operations.

Rio Tinto’s Chief Scientist, Nigel Steward, commented, “Our companies share a vision of a low carbon future and we see great potential in the partnership.

We aim to develop a truly green battery from our low carbon aluminium, which could transform the way we supply and store energy to anything from a leaf blower to a mining haul truck.  It is a very exciting prospect and we are looking forward to bringing together the technical ingenuity of both Rio Tinto and GMG.” 

GMG’s Managing Director and CEO, Craig Nicol, commented: “We are excited to be collaborating with Rio Tinto, one of the world’s largest mining companies who are committed to leveraging leading technologies for efficient and low carbon operations.

The collaboration with Rio Tinto adds another key element in GMG’s leading partnerships to develop our G+Al Battery following recent agreements with Wood for scaling graphene production and Bosch for automated battery production.  

Rio Tinto’s supply of aluminium and development of material industrial battery applications also add to our battery development plans.

Together, with the partnerships already established, this is another important step towards GMG’s goal to become a major global supplier of energy saving products as well as G+AI Batteries as we continue to de-risk the commercial scale up of this technology.”

About Rio Tinto

Rio Tinto is a leading mining and metals company, operating in 35 countries and producing high-quality iron ore, copper, aluminium, and other materials that are essential for the low-carbon transition. Rio Tinto is committed to reaching net-zero by 2050 and is targeting a 15% reduction in scope 1&2 emissions by 2025 (from a 2018 baseline) and a 50% reduction by 2030. For more information visit riotinto.com. 

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. 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”).

For further information, please contact:
- Craig Nicol, Chief Executive Officer and Managing Director of the Company at [e-mail], [phone] 
- Leo Karabelas at Focus Communications, [e-mail] , [phone]