Graphene Manufacturing Group Ltd (TSX-V:GMG, OTC:GMGMF) (GMG) has provided an update on the ongoing investment in its Battery Development Centre (BDC), saying its board of directors has approved an additional A$600,000 in capital expenditure to accelerate the progress of semi-automatic pouch cell prototype production for customer trials and Graphene Aluminium Ion (G+AI) Battery cell development.
The clean technology company noted that it has also successfully increased its organisational capacity by attracting new staff experienced in pouch cell manufacturing, thereby enabling the acceleration of its battery performance optimisation programme.
”This investment adds to our existing pouch cell manufacturing capabilities and together with GMG's internal expertise the company is now focused on progressing collaborative partnerships with several potential battery customers to further accelerate commercial development work in 2023,” GMG CEO Craig Nicol said in a statement.
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GMG said it believes its pouch cells could be used in a wide range of potential applications, including personal communication devices; Internet of Things (IOT) sensors; personal mobility devices; energy storage; high power industrial applications; electric aviation; electric vehicles and; personal electronics.
The company also noted that the additional CAPEX expenditure will assist with future optimisation, prototype development and production, and assembly times in the BDC.
It said the additional equipment is expected to be operational in the second quarter of 2023.
As well, GMG noted that it will continue to work with various scientific and engineering methods to optimise capacity, energy and power density, and overall design of coin cell and/or pouch cell products.
Graphene Manufacturing Group 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/no contaminant graphene suitable for use in clean technology and other applications.
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