Source: Graphene Manufacturing Group Ltd.
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  • GMG and OzKem Pty have signed a binding agreement for GMG to acquire the manufacturing intellectual rights of OzKem’s THERMAL-XR coating products
  • Upon the completion of the agreement, GMG will own the THERMAL-XR brand, will buy the base coatings product from OzKem, and will manufacture the THERMAL-XR products containing GMG graphene
  • GMG will pay to OzKem an initial AU$1 million cash and a subsequent AU$1 million in ordinary shares in the company
  • GMG is a clean-technology company which seeks to offer energy saving and energy storage solutions
  • Graphene Manufacturing Group Ltd. opened trading at $3.81 per share

Graphene Manufacturing Group (GMG) has agreed to acquire the manufacturing intellectual property and brand rights of OzKem’s THERMAL-XR coating products.

OzKem developed the THERMAL-XR coating system products using GMG graphene and OzKem’s base HVAC (Heating Venting and Air Conditioning) coating.

GMG is an international distributor of THERMAL-XR products with a number of global commercial demonstrations underway or initial sales completed.

Upon the completion of the agreement, GMG will own the THERMAL-XR brand, buy the base coatings product from OzKem, and manufacture the THERMAL-XR products containing GMG graphene.

In addition, GMG will pay to OzKem an initial AU$1 million cash and a subsequent AU$1 million in ordinary shares in the company, if the successful commercial batch blend of the THERMAL XR product is completed by GMG.

“It is a natural development in the business for GMG to take over the THERMAL XR business and work to develop the potential of this technology,” said OzKem’s Managing Director, Terry Kobler.

“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 these technologies,” noted GMG’s Managing Director and CEO, Craig Nicol.

OzKem is a world leading coating technology company focused on the protection of heat exchange coils.

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.

Graphene Manufacturing Group Ltd. opened trading at $3.81 per share.


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