Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) issued a two-pronged update for investors on Monday, including on the development of its graphene aluminium ion battery.
The clean-technology company said one of its non-executive directors, William Ollerhead, is stepping down from the board due to pressing needs in his other roles, one of which is as a chairman of a listed company.
GMG CEO Craig Nicol thanked Ollerhead for his work in the role, which he took on when the company was publicly listed in 2021.
"GMG continues to focus on progressing into commercial operation by growing sales and operating its newly commissioned modular graphene plant and Thermal-XR coating blend plants whilst progressing the battery's development," Nicol said.
Chairman Jack Perkowski added that the company "continues to focus on the US for funding our development and growth initiatives. Enabling US investors with increased involvement may expand the company's future capital opportunities."
GMG also provided an update on one of the regular visits to its Australian headquarters office and manufacturing facilities from non-executive director Bob Galyen, previously chief technology officer at battery giant CATL, who is based in Indiana, USA.
This visit is to support the company's graphene aluminium ion battery development, with GMG saying Gaylen's week-long "intensive deep dives" into the battery's progress include reviewing the battery performance, electrochemistry, cathode preparation, battery assembling, laboratory and battery equipment.
Galyen said: "GMG's graphene aluminium ion battery characteristics include high power density and potential energy density which may lead to improved battery performance and simplicity.
"GMG's graphene manufacturing from natural gas with hydrogen gas as a by-product creates good ESG numbers, and plentiful active material components of the battery allows for a simpler supply chain than traditional lithium-ion batteries."