Total
0
Shares
Source: Graphene Manufacturing Group
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Graphene Manufacturing Group (GMG) is constructing a pilot production and testing plant for its graphene aluminum-ion batteries
  • The pilot plant is located in a recently secured new headquarters and production facility in Brisbane, Australia
  • GMG expects to be able to commission the facility beginning in November
  • Coin cell battery prototypes are expected by the end of 2021 and a pouch pack battery prototype is expected by the end of 2022
  • GMG is an Australian based clean-tech company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite
  • Shares in Graphene Manufacturing Group (GMG) are up 13.45 per cent, trading at $3.29 per share

Graphene Manufacturing Group (GMG) is constructing a pilot production and testing plant for its graphene aluminum-ion batteries.

The pilot plant is located in a recently secured new headquarters and production facility in Brisbane, Australia.

With construction underway, GMG expects to be able to commission the facility beginning in November.

GMG also announced that it has committed additional expenditures to allow the pilot plant to produce pouch pack cell batteries in addition to the previously announced coin cell format. Pouch pack cells are typically used in personal electronics such as cell phones, laptops, as well as in electric vehicles and grid storage batteries.

Craig Nicol, CEO and Managing Director of GMG, commented,

“We are excited to shortly be able to develop, manufacture and test our own G+AI Battery coin cell and pouch packs in-house.”

Pilot production of a prototype coin cell battery is targeted before the end of 2021 and a pouch pack commercial prototype battery is targeted before the end of 2022.

The company does not expect revenue from this new pilot battery plant to be significant compared to its overall operations but expects that it will lead to further developments down the line.

“This will allow us to potentially accelerate the development of our G+AI Batteries, work with our future customers and further build on our internal expertise,” said Mr. Nicol in the company’s press release.

GMG is an Australian-based clean-tech company that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite.

Shares in Graphene Manufacturing Group (GMG) are up 13.45 per cent, trading at $3.29 per share as of 9:35 am ET.

More From The Market Herald
The Market Herald Video

" Railtown AI Technologies (CSE:RAIL) announces CSE listing

Railtown AI Technologies (RAIL)  has completed its prospectus offering and listing on the Canadian Stock Exchange.

" DGTL Holdings (TSXV:DGTL) updates concurrent financing in Engagement Labs acquisition

DGTL Holdings (DGTL) has agreed to amend some of the conditions of its agreement with Engagement Labs.
Plurilock - CEO, Ian Paterson.

" Plurilock (TSXV:PLUR) announces fall 2021 product release

Plurilock Security (PLUR) has announced the availability of its fall 2021 product release.

" Siyata Mobile (NASDAQ:SYTA) launches VK7 vehicle accessory designed for use with the SD7 handset

Siyata Mobile (SYTA) has launched a new vehicle kit accessory that provides a unique solution for push-to-talk communication.