The company signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the state for a grant of $2 million.
GMG is using graphene to produce aluminium-ion batteries utilising a patent-pending surface perforation technology developed by the University of Queensland.
The company, which is listed on the Canadian TSX Venture Exchange, said the grant was for the payment of 50 percent of the capital cost of GMG’s proposed pilot plant, up to a maximum of $2 million.
GMG’s CEO Craig Nicol thanked the government for its support of battery manufacturing in the state.
Nicol said: “This is great recognition for GMG and GMG’s next generation Graphene Aluminium Ion Battery and further shows the progress of the battery’s development. We are very excited about this next phase of its maturation.”
The Critical Minerals and Battery Technology Fund supports business to compete globally by enhancing the extraction and processing of critical minerals and the development of battery technologies and production of precursor or advanced materials in Queensland.
The Pilot Plant will be constructed at GMG Richland’s existing manufacturing facility, and the grant is conditional on GMG taking a final investment decision in the Battery Pilot Plant project.
Queensland Deputy Premier Cameron Dick said: “The $100 million Queensland Critical Minerals and Battery Technology Fund is playing its part by supporting businesses across the supply chain like Redflow, Revolver Resources, and now GMG.”
“GMG’s innovative use of graphene, in partnership with UQ, is another example of our homegrown ingenuity that we will continue fostering here in Queensland.”
Read the original article on Australian Manufacturing Forum.
