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, with the aim to agree on the terms of binding agreements for Wood to design and deliver major graphene manufacturing expansion projects.
Wood will support GMG in scaling up and automating its proprietary natural gas to graphene manufacturing process. The parties' intent is for Wood to become GMG's engineering, design and construction contractor for GMG's near and long-term graphene manufacturing facility needs in Australia and overseas.
Graphene is one of the main components enabling the GMG and University of Queensland graphene aluminium-ion battery ("G+AI Battery") technology. 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 and scalable graphene, suitable for use in clean-technology applications, including G+AI Batteries. GMG's arrangement with Wood is intended to support scaling and automation of the graphene production process to meet graphene supply requirements for GMG's targeted G+AI Battery division.
A Letter of Intent was earlier signed with Bosch (news release 25 October 2021) for the design and delivery of targeted G+AI Battery manufacturing plants. GMG and Wood will work in collaboration with Bosch to create an aligned production process from graphene manufacturing through to final G+AI Battery products across the Company's facilities.
GMG's Managing Director and CEO, Craig Nicol, commented: "We are proud and excited to be collaborating with Wood who are a major, world leading engineering company with a significant focus on the energy transition. As we have told our shareholders, one of our key current activities is engagement with customer and industry partners for G+AI Battery development and this is another example of that progression. In parallel we are also building up our internal battery and graphene engineering capability further through a recruitment programme that is underway. Together with the partnership already established with Bosch this is another important step towards GMG's goal to become a major global supplier of G+AI Batteries as we continue to de-risk the commercial scale up of this technology."
About Wood
Wood is a global leader in consulting and engineering across energy and the built environment, helping to unlock solutions to some of the world's most critical challenges. Wood provides consulting, projects and operations solutions in more than 60 countries, employing around 40,000 people. www.woodplc.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").