20.4 C
Belgrade
Supported byspot_img
spot_img

Graphene Manufacturing Group: Graphene batteries get Rio Tinto boost

Member of Europium Groupspot_img
Supported byspot_img

Graphene Manufacturing Group (GMG) has announced a binding joint development agreement (JDA) worth A$6mln with Rio Tinto, one of the largest mining companies in the world. The company hopes to expedite the development of applications for its graphene + aluminium batteries (G+AL) in heavy mobile equipment in the mining industry such as for drills, excavators, and trucks. This could mark an important step to the wider commercialisation of GMG’s core technology through a proof-of-concept industry application of its technology, primarily its G+AL pouch cell batteries.

GMG produces high-quality graphene at scale from natural gas via its proprietary process. It is using graphene to develop advanced G+AL batteries for a range of applications. G+AL batteries are not yet commercial, but, as the remaining technical and scale-up challenges are resolved, G+AL could have a massive market opportunity given its core technical advantages over dominant lithium technologies.

The JDA, building on the non-binding agreement with Rio Tinto from May 2022, is an important financial and strategic step towards the commercialisation of GMG’s core technology. Rio Tinto will provide technical and operational performance criteria by which GMG can adapt and reconfigure its batteries in line with industry and company-specific requirements. This includes a A$6mln facility spread over two years from Rio Tinto for preferential access rights to G+AL batteries, and this cash should give the company important reliable revenue alongside revenues from its Thermal XR graphene coatings line to fund its growing operations.

Supported by

The agreement should also help offset development costs for its pouch cell batteries and de-risk future industrial application development with other companies, removing potential barriers to entry. The agreement shows the attractiveness of GMG and its technology in facilitating the transition to net zero for industrial partners.

 

Source: proactive

 

Supported byElevatePR Digital

Related News

Mali signs lithium mining agreement with Ganfeng, eyes revenue boost

Earlier this week, Mali's economy minister announced a significant deal with China's Ganfeng Lithium regarding the operation of the Goulamina lithium mine. Under the...

Final legal discussions underway for EU-Serbia lithium trade partnership

Commissioner Maroš Šefčovič revealed that the final legal obstacles are being addressed before the EU-Serbia trade partnership, focused on sourcing lithium from the Jadar...

IEA analysis calls for greater investment despite 2023 drop in clean energy mineral prices

Prices for key minerals used in clean energy technologies fell in 2023 as supply outpaced demand, easing pressure on the market. However, a new...

EQ Resources surpasses production records despite cyclone challenges

Despite recovering from the impact of cyclone Jasper, EQ Resources (EQR) celebrates a milestone in tungsten production at its Mount Carbine mine in Queensland....
Supported by
Supported by
Supported by
error: Content is protected !!