GMG Provides Commercialisation Update on Energy Savings Coating THERMAL-XR(R)
2024年4月23日 - 3:39AM
JCN Newswire
Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the
"Company") is pleased to provide a business update on the
commercialisation progress of THERMAL-XR(R) powered by GMG
Graphene.
GMG and GMG's THERMAL-XR(R) powered by GMG Graphene coating was
awarded as Most Disruptive Technology Award and Best Chance for
Market Success Award at the Data Center World Conference in
Washington DC, USA on the 18th April 2024. The Data Center World
conference is a global industry event that combines real world,
practitioner and thought leader expertise with in-depth research
and data, and access to a full spectrum of solution providers
looking to drive the industry forward.
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Most Disruptive Technology Award is the award for the technology
that the judges determine to have the best opportunity to create
short-term positive market, sales, or customer service disruption
among existing data center technologies. Best Chance for Market
Success Award is the award for the technology that judges determine
will be the most successful at creating revenue upside and profit
for the startup company.
THERMAL-XR(R) provided a 15.4% improvement in energy efficiency in
an Aviation IT Data Center in Singapore:
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End-user Customer Engagement in the USA is ongoing with North
America Distribution Partner Nu Calgon, which is known as the
largest specialty chemical provider to the HVACR market in North
America. Nu-Calgon has a 37 person sales team with approximately
4000 distribution points. Nu-Calgon's Cool Worx powered by GMG
Graphene was introduced to the North American HVACR industry at the
AHR Expo in January 2024. As previously announced Thermal XR
provided a 36.7% reduction in energy when demonstrated at the High
School Gymnasium, Harlingen Texas on a 30 ton Aaon packaged rooftop
air-conditioning system.
GMG and Nu Calgon are reviewing and progressing next steps for its
THERMAL-XR(R) re-submission for its USA Environmental Protection
Agency's (EPA) approval with a full Pre-Manufacture Notice (PMN) to
import and sell in the USA as previously announced.
GMG has also received its first order for THERMAL-XR(R) production
coating trials from an Air Conditioner Manufacturer in China and is
in discussions about product testing with various other Air
Conditioner Manufacturers in both China and USA.
GMG has successfully completed the THERMAL-XR(R) coating project
work at a number of Beach Front Hotels including the five star
eco-resort Elements of Byron where the main targeted benefit is
corrosion resistance for both the condenser coils and the outside
air conditioner casing. Please see customer testimonial from the
hotel owner:
https://graphenemg.com/thermal-xr-testimonial-by-elements-of-byron/
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Based on the success of these projects, GMG has focused a sales
campaign targeting the sale of THERMAL-XR(R) to Queensland and New
South Wales based coastal hotels and resorts given their air
conditioners are often found to fail faster due to more aggressive
corrosion from the sea air. GMG's THERMAL-XR(R) can provide high
Corrosion Protection whilst potentially providing energy savings
for their HVAC equipment. Under third party laboratory re-testing
conducted by Industrial Inspection & Analysis in St. Louis
Missouri USA, THERMAL-XR(R) has now successfully achieved 10,000
hours salt sea spray testing.
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GMG has also received an order to complete the remaining two stages
of the Australian micro-Liquefied Natural Gas (LNG) plant GMG
supplied and coated THERMAL-XR(R) in 2022 after successfully
increasing production capacity approximately 16% on the initial gas
cooling stage of the LNG plant.
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GMG has received an order for THERMAL-XR(R) from a global Train
Manufacturer to carry out supply and service of the product on
train air conditioning systems in China after initial successful
testing. In addition, GMG is also testing THERMAL-XR(R) with a
global Truck Manufacturer for radiator and other equipment
application trials.
Tim Edwards, Head of Sales is leading these activities for the
Company with a key focus on driving sales in the HVAC market with
significant experience and industry knowledge. Mark Lock, Global
Key Account Manager has retired from GMG and the Company thanks
Mark for his significant contributions in progressing
THERMAL-XR(R).
GMG's Managing Director and CEO, Craig Nicol, commented: "The
progress GMG is making with THERMAL-XR(R) is exciting. The various
types of industries that are now trialling and in some case
ordering the product including after-market air conditioning, data
centres, air conditioner manufacturers, truck and train
manufacturers and industrial facilities such as LNG plants."
About THERMAL-XR(R) powered by GMG Graphene:
THERMAL-XR(R) COATING SYSTEM is a unique method of improving the
conductivity of corroded heat exchange surfaces and improving and
maintaining the performance of new units at peak levels. The
process coats and protects heat exchange surfaces while improving
and rebuilding the lost corroded thermal conductivity and
increasing the heat transfer rate by leveraging the physics of GMG
Graphene, resulting in an efficiency improvement and a potential
power reduction.
THERMAL-XR RESTORE(R) is powered by GMG Graphene. PATENT
PENDING
About GMG www.graphenemg.com
GMG is a clean-technology company which seeks to offer energy
saving and energy storage solutions, enabled by graphene, including
that manufactured in-house via a proprietary production process.
GMG has developed a proprietary production process to decompose
natural gas (i.e. methane) into its elements, carbon (as graphene),
hydrogen and some residual hydrocarbon gases. This process produces
high quality, low cost, scalable, 'tuneable' and low/no contaminant
graphene suitable for use in clean-technology and other
applications.
The Company's present focus is to de-risk and develop commercial
scale-up capabilities, and secure market applications. In the
energy savings segment, GMG has focused on graphene enhanced
heating, ventilation and air conditioning ("HVAC-R") coating (or
energy-saving coating), lubricants and fluids.
In the energy storage segment, GMG and the University of Queensland
are working collaboratively with financial support from the
Australian Government to progress R&D and commercialization of
graphene aluminium-ion batteries ("G+AI Batteries").
GMG's 4 critical business objectives are:
Produce Graphene and improve/scale cell production processesBuild
Revenue from Energy Savings ProductsDevelop Next-Generation Battery
Develop Supply Chain, Partners & Project Execution
Capability
For further information please contact:
Craig Nicol, Chief Executive Officer & Managing Director of the
Company at craig.nicol@graphenemg.com, +61 415 445 223 Leo
Karabelas at Focus Communications Investor Relations, leo@fcir.ca,
+1 647 689 6041
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accept responsibility for the adequacy or
accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain statements and information that
may constitute forward-looking information within the meaning of
applicable Canadian securities laws. Forward-looking statements
relate to future events or future performance and reflect the
expectations or beliefs of management of the Company regarding
future events. Generally, forward-looking statements and
information can be identified by the use of forward-looking
terminology such as "intends", "expects" or "anticipates", or
variations of such words and phrases or statements that certain
actions, events or results "may", "could", "should", "would" or
will "potentially" or "likely" occur. This information and these
statements, referred to herein as "forward‐looking
statements", are not historical facts, are made as of the date of
this news release and include without limitation, statements
regarding customer engagement in the USA, the review and
progression of the Company's EPA approval with a PMN, discussions
with air conditioner manufacturers in Chian and the USA, the
benefits of THERMAL-XR(R), and the testing of THERMAL-XR(R) with a
global truck manufacturer.
Such forward-looking statements are based on a number of
assumptions of management, including, without limitation,
assumptions relating to customer engagement in the USA continuing
with Nu Calgon, the Company re-submitting an application to the EPA
for approval with a full PMN, that discussions and product testing
with various air conditioner manufacturers in the USA and China
will continue, that THERMAL-XR(R) can provide high corrosion
protection while potentially providing energy savings for HVAC
equipment, and that GMG will continue testing THERMAL-XR(R) with a
global truck manufacturer for radiator and other equipment
application trials.
Additionally, forward-looking information involves a variety of
known and unknown risks, uncertainties and other factors which may
cause the actual plans, intentions, activities, results,
performance or achievements of GMG to be materially different from
any future plans, intentions, activities, results, performance or
achievements expressed or implied by such forward-looking
statements. Such risks include, without limitation: that GMG and Nu
Calgon will not continue with end-user customer engagement in the
USA, that GMG will not re-submit an application to the EPA for
approval with a full PMN, or that the Company's submission to the
EPA will not be approved, that discussion with air conditioner
manufacturers in China and the USA will not continue, that
THERMAL-XR(R) will not provide the benefits expected by management
to HVAC equipment, that the testing of THERMAL-XR(R) with a global
truck manufacturer for radiator and other equipment application
trials will not continue, risks relating to the extent and duration
of the conflict in Eastern Europe and its impact on global markets,
the volatility of global capital markets, political instability,
the failure of the Company to obtain regulatory approvals, attract
and retain skilled personnel, unexpected development and production
challenges, unanticipated costs and the risk factors set out under
the heading "Risk Factors" in the Company's annual information form
dated October 12, 2023 available for review on the Company's
profile at www.sedarplus.ca.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements or
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. Readers are cautioned that reliance on
such information may not be appropriate for other purposes. The
Company does not undertake to update any forward-looking statement,
forward-looking information or financial out-look that are
incorporated by reference herein, except in accordance with
applicable securities laws. We seek safe harbor.
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