Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) said it had successfully completed energy savings case studies with a Singapore-based bank as part of its partnership with C&W Services Singapore and ACMES, GMG's distributor for Thermal-XR in Singapore.
The case studies, conducted using GMG’s Thermal-XR technology, demonstrated energy savings ranging from 10% to 20% on average, according to GMG.
Following the positive results, the bank is now exploring opportunities to scale the application of Thermal-XR Enhance to additional branches.
In a visual representation of the energy savings, data from the case study revealed approximately 33% energy reduction in air conditioning consumption after applying the Thermal-XR coating. The post-coating average daily energy consumption was compared to the bank’s energy usage before washing the air conditioning units.
"Our collaboration with C&W Services and ACMES has yielded positive results, and we look forward to expanding our energy savings projects with Thermal-XR Powered by GMG Graphene to more companies in Singapore and globally,” Craig Nicol, CEO of GMG told shareholders.
The company said it hopes that the success in Singapore will open doors for further applications of its graphene-powered technology across various industries worldwide.