Brisbane, Queensland, Australia–(Newsfile Corp. – November 30, 2021) – Graphene Manufacturing Group Ltd. (TSXV: GMG) (FSE: 0GF) ("GMG" or the "Company") is pleased to provide an update regarding the patent status of the associated Graphene Aluminium-Ion Battery ("G+AI Battery") technology.
GMG's partner, UniQuest Pty Limited ("UniQuest"), has filed a global patent application for the G+AI Battery under the Patent Corporation Treaty ("PCT") following an initial filing on November 25, 2020. The patent application is an important step in securing the intellectual property ("IP") and global commercialisation rights for the G+AI Battery technology that GMG has rights to develop and deploy.
As reported on April 22nd 2021, GMG is developing G+AI Battery technology with the University of Queensland (or "UQ") and has entered into a licence agreement dated February 26, 2021 (the "Licence Agreement") with UniQuest Pty Limited ("UniQuest"), an entity which commercialises research work done by the University of Queensland. The Licence Agreement has a term of 20 years or longer, should patents remain in place in certain countries. Under the terms of the Licence Agreement, GMG will pay for certain patent costs as they arise and will pay Uniquest a minimum royalty on sales of G+AI Batteries.
GMG CEO, Craig Nicol, commented: "This PCT application is another important milestone for GMG. Apart from securing the IP and global commercialisation rights, it also further cements our long-term partnership with the University of Queensland and Uniquest to develop the G+AI battery, which continues to progress well."
As disclosed in GMG's prospectus dated March 31, 2021, GMG and the University of Queensland entered into a research agreement dated February 26, 2021 (the "Research Agreement"), pursuant to which both parties are working collaboratively with financial support from the Australian Government to progress research and development, and ultimately the commercialization of G+AI Batteries.
UniQuest is the commercialisation company of the University of Queensland (UQ). Working at the interface between industry and UQ's researchers, UniQuest commercialises UQ's intellectual property in partnership with UQ researchers to create societal and economic impact. Established in 1984, UniQuest's commercialisation activities have placed UQ at the forefront of academic research translation in Australia.http://uniquest.com.au/
GMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.
The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.
For further information, please contact:- Craig Nicol, Chief Executive Officer and Managing Director of the Company at firstname.lastname@example.org, +61 415 445 223- Leo Karabelas at Focus Communications, email@example.com , +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 payments under the Licence Agreement, discussions of future plans and management's expectations and intentions with respect to the Research Agreement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, risks related to the deployment of the Company's resources, including its personnel, and the intention of the Company to research, develop and produce certain products, the Company's success in obtaining all necessary approvals with regard to the patent application process, the creation of IP, and the Company's success in collaborating with UQ and UniQuest to develop its products and IP.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, assumptions regarding the Company's ability to research, develop and test its products within anticipated timelines, the Company will be successful in obtaining all necessary approvals under the patent application process, the development and licencing of IP as anticipated, and the Company will be successful in collaborating with UQ and UniQuest to develop its products and IP.
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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