GMG -- EV Battery Tech play starting a new leg up

GMG had a healthy retrace to ~ EMA 20 support level but is reversing nicely as shorts are starting to cover. The company issued a time news release this morning, showing a healthy interest in the propitiatory EV tech they are developing:
BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - June 1st, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to provide the latest update on its graphene aluminium-ion battery technology (“G+AI Battery”) being developed by the Company and the University of Queensland.

Since GMG’s market update on May 11, 2021 (“GMG Graphene Aluminium-Ion Battery Performance Data”), the Company has appointed Director Robbert de Weijer as G+AI Battery Project Director and has instructed the Company’s Head of Technology and Head of Graphene Projects to prioritise the G+AI Battery’s technical progression. In addition, the Company’s new Chief Operating Officer together with the operating team are prioritising the production of the particular graphene needed for G+AI Battery production.

These moves reflect GMG’s determination to positively respond to the many encouraging, and varied inquiries the Company has received regarding the technical and commercial application of G+AI Batteries.
GMG’s Chief Executive Officer and Managing Director, Craig Nicol, stated: “More than 80 incoming requests from across the globe have been received by the Company from organizations seeking to explore potential applications in electric consumer vehicles, high-performance cars, heavy duty vehicles, motor bikes, air transport, personal appliances such as laptop computers and phones, grid-connected storage, and others. Several parties noted, among other things, the potential high power density of graphene aluminium-ion batteries which enables faster-charging; that graphene aluminium-ion batteries are expected to be greener and be able to be produced without lithium and rare earths; that the performance of such batteries are expected to be safer, with much lower fire risk; and finally that graphene aluminium-ion batteries are expected not to require the complexity and weight of cooling systems required by lithium-ion battery technology. The Company is encouraged by this initial interest and will continue to provide regular updates regarding the performance and development of its graphene aluminium-ion batteries as the research and development and commercial programmes progress.”

GMG is in the process of signing non-disclosure agreements with certain parties to provide for a confidential exchange of information in connection with the evaluation of a potential business relationship between the parties. In particular, the Company intends to determine whether it should engage such parties to assist in, among other things, defining the battery specifications for GMG’s pouch pack for certain applications.


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