- Graphene Manufacturing Group Ltd. (GMG) and Robert Bosch Australia Pty Ltd. have signed a non-binding letter of intent
- The LOI sets out terms for Bosch to design and deliver a Graphene Aluminium Ion (G+AI) battery manufacturing plant
- The intent is for Bosch to become GMG’s engineering, design and construction contractor for its near and long-term battery cell manufacturing facility needs
- The G+AI battery pilot plant equipment has been received and GMG will commence construction and commissioning soon
- GMG believes that it remains on track to develop a commercial prototype coin cell battery before the end of 2021 and continues to progress preparations for a commercial scale battery manufacturing facility to follow
- Graphene Manufacturing Group Ltd. (GMG) is up 25.76 per cent and is trading at $2.88 per share at 3:53 p.m. ET
Graphene Manufacturing Group Ltd. (GMG) and Robert Bosch Australia Pty Ltd. have signed a non-binding letter of intent.
The LOI sets out terms for Bosch to design and deliver a Graphene Aluminium Ion (G+AI) battery manufacturing plant.
GMG is a clean-tech company that produces graphene and hydrogen by cracking methane instead of mining graphite.
Bosch will support GMG in learning and developing the automation of the battery assembly process and use the results from the G+AI battery pilot plant to support the scaling of these into fully automated plants.
Bosch is a supplier of advanced manufacturing solutions and integrations to Australian businesses. It is one of Australia’s leading factory automation companies.
The companies intent is for Bosch to become GMG’s engineering, design and construction contractor for its near and long-term battery cell manufacturing facility needs.
GMG’s commitment to an initial commercial G+AI battery plant is expected to follow a successful commercial prototype development and a final investment decision.
The location has not been announced but is expected to be in Australia where GMG’s headquarters and existing operations are located.
The G+AI battery pilot plant equipment has been received and GMG will commence construction and commissioning soon.
GMG believes that it remains on track to develop a commercial prototype coin cell battery before the end of 2021 and continues to progress preparations for a commercial-scale battery manufacturing facility to follow.
Graphene Manufacturing Group Ltd. (GMG) is up 25.76 per cent and is trading at $2.88 per share at 3:53 p.m. ET.
