Graphene Manufacturing Group Ltd. (“GMG ”) has announced that the pilot production and testing plant (“Battery Pilot Plant”) for its graphene aluminium-ion batteries (“G+AI Batteries”) is operational and that the first G+AI Batteries in coin cell format have been manufactured. Additional equipment to enable the manufacture G+AI Batteries in pouch pack cell format is expected to arrive in early 2022.
GMG’s Managing Director and CEO, Craig Nicol, commented: “The commissioning of our Battery Pilot Plant is an important milestone for GMG. Not only will it allow us to develop, manufacture and test our own G+AI Battery coin cell and subsequently pouch packs in-house, it will also enable the Company to accelerate the commercial development of our G+AI Batteries, work with future customers and further build on our internal expertise. We also expect the Battery Pilot Plant to accelerate optimisation of our G+AI Battery prototypes, building on the encouraging results we have already achieved which are generating so much interest from prospective customers.”
“Having our own manufacturing and testing capability also supports collaboration efforts with industry partners that continue to express strong interest in the initial performance results and future potential of G+AI Batteries. The lessons we learn from this process will be highly valuable as we work towards commercialisation of this technology” Nicol said.
As previously announced, subject to successful commercial prototypes and a final investment decision, GMG aims to construct an initial commercial coin cell G+AI Battery manufacturing facility, followed by first production and sales of G+AI Batteries. The location of this manufacturing facility is not yet decided but will likely be in Australia where GMG’s headquarters and existing operations are located. As previously announced on the 25th October 2021, GMG and Robert Bosch Australia Pty Ltd (“BOSCH”) have signed a non-binding Letter of Intent, with the aim to agree on the terms of binding agreements for BOSCH to design and deliver this manufacturing facility.
GMG’s current cash balance is approximately A$15.6m, leaving the Company well-funded for the next stage of its growth plans.