Graphene Manufacturing Group Ltd. (GMG) (GMGMF) ('GMG' or the 'Company') has entered into a Queensland Significant Minerals and Battery Technology Fund Agreement with the Queensland Government for a grant of A$2 million. We announced that. Toward funding GMG's proposed autonomous battery pilot plant for the production of GMG's graphene aluminum-ion batteries.
The Queensland Government will enhance the extraction and processing of critical minerals in Queensland, accelerate the development of battery technology and production of precursors or advanced materials in Queensland, and help Australian companies compete globally. The Queensland Significant Minerals and Battery Technology Fund was established to Employment and economic growth in Queensland.
The grant will pay 50% of the capital cost of GMG's proposed autonomous battery pilot plant, up to A$2 million, to manufacture GMG's graphene aluminum ion batteries. The pilot plant will be built at GMG Richland's existing manufacturing facility, and the grant is subject to various preconditions, including GMG's final investment decision in the battery pilot plant project.
Craig Nichol, CEO of GMG, said: “We would like to thank the Queensland Government and acknowledge its commitment to supporting the state’s vital minerals and battery manufacturing industries. “This is a great recognition and further demonstrates the progress we are making in battery development. We are very excited about this next stage of maturation.”
Jack Perkowski, Chairman and Non-Executive Director of GMG, commented: “This represents further progress for our company and we congratulate GMG on successfully securing this grant. We would also like to thank the Queensland Government for recognizing and supporting GMG at this stage of battery development. I would also like to thank you.”
Cameron Dick, Deputy Premier, Minister of Finance and Minister for Trade and Investment, Queensland Government said:
“The Miles Labor Government is driving Queensland through an energy transformation that creates jobs.”
“We are very pleased that this new plant will create 12 high-quality jobs. Projects like this set the path to creating thousands of secure jobs for Queenslanders, while providing support to families and businesses. We provide the clean, reliable and affordable energy you need.”
“The $100 million Queensland Critical Minerals Battery Technology Fund is doing its part by supporting companies across the supply chain such as Redflow, Revolver Resources and now GMG.”
“GMG’s innovative use of graphene in partnership with UQ is another example of the unique ingenuity we will continue to foster here in Queensland.”
“Their graphene aluminum ion batteries have the potential to be a real game changer in global markets and take Queensland's local battery industry to the next level.”
Source: https://graphenemg.com/
