Mr. Craig Nicol reports

GMG ACHIEVES INITIAL 500 MAH GRAPHENE ALUMINIUM-ION BATTERY PROTOTYPE IN POUCH CELL FORMAT & PROVIDES NEXT STEPS TOWARD COMMERCIALISATION

Graphene Manufacturing Group Ltd. has provided a progress update on its graphene aluminum-ion battery technology (G+AI battery) being developed by the company and the University of Queensland (UQ), and on the transition from coin cells to pouch cell format.

The company has now made initial G+AI battery prototype pouch cells, which have a storage capacity of over 500 mAh (milliamp hours), with a nominal voltage of approximately two volts. This is a significant development as it shows the company has matured the battery electrochemistry and assembly techniques of producing pouch cells with over 10 layers of graphene-coated cathode and aluminum foil anode.

The next step for the company is to optimize the assembly techniques of the pouch cell prototypes. This is to achieve repeatable storage capacity of over 500 mAh cells in order to conduct a variety of standard testing conditions for comparative purposes. The company then intends to pursue producing cells with over 20 double layers to get a storage capacity of 1,000 mAh by using an automatic coating machine, cathode laser cutting equipment and a semi-automatic stacker, to achieve reproducible cells for validation trials.

The aforementioned reproducible cells are to meet an objective for the Rio Tinto joint development agreement. This target is to achieve a repeatable capacity of 1,000 mAh by H1 2024 and then produce this pouch cell at scale by H1 2025.

Battery technology readiness level

The battery technology readiness level (BTRL) of the graphene aluminum-ion technology has progressed to Level 4. The company is currently optimizing electrochemical behaviour for pouch cells via continuing laboratory experimentation.

Next steps toward commercialization and market applications

The company continues to see a broad range of applications for a completed graphene aluminum-ion battery -- utilizing its ultrahigh power density and nominal energy density characteristics. A range of global companies have confidentially expressed their interest in working with Graphene Manufacturing in the following vertical sectors:

• Diesel engine replacement (high load and power requirements);
• Energy storage (in front of or behind the metre);
• Personal electronics (fast charging and long life);
• Aviation (including vertical takeoff and landing);
• Electric vehicles;
• Other applications.

Next-generation battery performance

Performance results for the pouch cells could be significantly different and will be communicated upon successfully producing a 1,000 mAh-plus battery pouch cell, and testing has been completed.

Graphene Manufacturing's four critical business objectives are:

1. Produce graphene and improve/scale cell production processes;
2. Build revenue from energy savings products;
3. Develop next-generation battery;
4. Develop supply chain, partners and project execution capability.

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing 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.

We seek Safe Harbor.