Graphene Manufacturing Group Ltd (TSX-V:GMG, OTC:GMGMF) has released an update following its Battery Joint Development Agreement (JDA) with Rio Tinto earlier this month.
The company has made a series of changes intended to further align development activities and support the progression of the Battery JDA, along with the expansion of Thermal-XR sales following recently announced distribution agreements.
First, the company said consumer feedback made it clear that pouch cell, rather than coin cell, batteries were of greatest interest to potential key customers. Additionally, the progression of the battery from the current Battery Technology Readiness Level (BTRL) Level 2-3 (Scientific Proof of Concept into Electrochemical Development) could be accelerated by having potential customer partners help define operating and design characteristics, the company said.
The JDA weaves together both of these elements by gathering customer feedback while also progressing the battery's technical development. It provides a clear development roadmap including use specifications and development targets.
GMG is currently making single-layer pouch cells to proceed to a 5-layer pouch cell testing and expects to have a greater than 25-layer pouch cell prototype by the first half of 2024.
To further enhance this alignment, GMG is moving forward with all scientific, product development and operations teams combined under the chief operating officer. The mandate for the sale of all products is now the responsibility of the general manager of sales.
The idea is to provide a stronger battery deep science to product performance linkage, prioritize activities and leverage learning across all product performance, the company said, as well as a streamlined engagement with customers with a single point of call for all products.
Meanwhile, chief financial officer Frederick Kotzee has decided to leave the company, resigning as a director due to a desire to move back to the resources sector and/or more flexible work arrangements, the company said. His departure is effective July 31.
GMG also recently secured an additional 1,200 square meters of laboratory, storage and office space adjacent to its existing factory, to support the increasing analysis and development work needed for ongoing battery development.
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