GMG secures funding for battery pilot plant

Graphene Manufacturing Group has announced that it has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the Queensland Government for a grant of $2 million towards the funding of GMG’s proposed automated battery pilot plant for the manufacture of GMG’s graphene aluminium-ion battery.

The Queensland Government established the Queensland Critical Minerals and Battery Technology Fund to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth.

The grant is for the payment of 50% of the capital cost of GMG’s proposed automated battery pilot plant. The pilot plant will be constructed at GMG Richland’s existing manufacturing facility, and the grant is conditional on various preconditions including GMG taking a final investment decision in the project.

“We want to thank the Queensland Government and acknowledge its commitment to supporting the critical mineral and battery manufacturing industry in the state,” said GMG’s CEO, Craig Nicol. “This is great recognition for GMG and GMG’s next-generation battery, and further shows the progress of the battery’s development. We are very excited about this next phase of its maturation.”

GMG’s Chairman and Non-Executive Director, Jack Perkowski, commented: “This represents further progress for the company, and I congratulate GMG on its success in securing this grant. I also would like to thank the Queensland Government for recognising and supporting GMG in this phase of its battery’s development.”

“I am so pleased that this new plant will create 12 good quality jobs. Projects like this are ... providing the clean, reliable and affordable energy every household and business needs,” said Queensland Government Deputy Premier Cameron Dick. “The $100 million Queensland Critical Minerals and Battery Technology Fund is playing its part by supporting businesses across the supply chain like Redflow, Revolver Resources and now GMG.”

GMG has developed a proprietary production process to decompose natural gas (methane) into its elements: carbon (as graphene), hydrogen and some residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, ‘tuneable’ and low-contaminant graphene suitable for use in clean technology and other applications.

In the energy savings segment, GMG has focused on graphene-enhanced heating, ventilation and air-conditioning 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 commercialisation of graphene aluminium-ion batteries.

Image credit: iStock.com/John D