Mr. Craig Nicol reports

GMG'S GRAPHENE ALUMINIUM-ION BATTERY UPDATE: MINIMAL TEMPERATURE RISE IDENTIFIED WHILE FAST CHARGING

Graphene Manufacturing Group Ltd. has provided the latest progress update on its graphene aluminum-ion battery technology (G+AI battery) being developed by Graphene Manufacturing and the University of Queensland (UQ).

The company is pleased to announce that it has identified minimal temperature rise when charging and discharging its graphene aluminum-ion battery. This is observed when charging and discharging multiple times at high C-rates (C-rate measures the current in a which a battery can be charged or discharged, such as at one C-rate the battery should be able to be fully discharged in one hour). The temperature of a high-quality lithium-ion battery, produced by a world-leading brand, can exceed 60 degrees when being discharged at the maximum current allowed (4.8 C-rate -- an estimated 0.8 A/g on the cathode active material mass). By comparison, Graphene Manufacturing's graphene aluminum-ion battery temperature is 29 degrees when it is discharged at even higher current density (20 C-rate -- approximately two A/g on the cathode active mass). The temperatures of both batteries were taken with the room temperature at 23.5 degrees (plus/minus 0.5 degree).

The company intends to validate with further testing the possibility that its battery may not need thermal management, even at high charge and discharge rates. This creates the potential for significant cost reduction at the system level and highly reduced system cost.

• Graphene Manufacturing's graphene aluminum-ion battery may not need a thermal management system when used in an electric vehicle battery pack or an energy storage system, which will lead to a simpler, more cost-effective and higher-energy-density battery pack. Most lithium-ion battery packs require a thermal management system.

Battery technology readiness level

The battery technology readiness level (BTRL) of the graphene aluminum-ion technology remains at Level 4. Graphene Manufacturing is currently optimizing electrochemical behaviour for pouch cells via continuing laboratory experimentation. When Graphene Manufacturing commissions its pilot plant, it is anticipated that the company's battery technology will progress to BTRL 7 and 8 since the equipment and process to make the graphene aluminum-ion batteries are the same as those used to make lithium-ion batteries.

Next steps toward commercialization and market applications

The company continues to see a broad range of applications for a completed Graphene Manufacturing graphene aluminum-ion battery -- utilizing its ultrahigh-power-density and nominal energy density characteristics. Along with Rio Tinto, a range of global companies have confidentially expressed their interest in working with Graphene Manufacturing.

Next-generation battery performance

Performance results for the pouch cells could be significantly different and will be communicated upon successfully producing a repeatable and fully third party tested 1,000-milliampre-hour battery pouch cell.

About Graphene Manufacturing Group Ltd.

Graphene Manufacturing is a disruptive Australian-based clean-tech company listed on the TSX Venture Exchange that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, it can produce high-quality, scalable, tuneable and no-/low-contaminant graphene -- enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low-input-cost source of graphene, the company is developing value-added products that target the massive energy efficiency and energy storage markets. The company is pursuing additional opportunities for Graphene Manufacturing graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lubricant oil and performance-enhanced HVAC-R (heating, ventilation, air conditioning, refrigeration) coating system.

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