GMG Provides Commercialisation Update on Energy Savings Coating THERMAL-XR(R)
Graphene Manufacturing Group (TSXV: GMGMF) has provided an update on the commercialization of its THERMAL-XR® coating. The company has re-launched THERMAL-XR® ENHANCE, focusing on its heat transfer and corrosion protection capabilities for both new and existing HVAC equipment. GMG is conducting on-site testing with global Air Conditioning Manufacturers in China and the USA for potential factory implementation.
The company is also exploring new applications in industries such as LNG facilities, electronic products, and automotive markets. GMG is preparing to submit a Pre-Manufacture Notice (PMN) to the US EPA for approval to import and sell in the USA without volume or sector limitations. THERMAL-XR® has been named a finalist for the AIRAH Product of the Year award, to be announced on November 21, 2024.
Graphene Manufacturing Group (TSXV: GMGMF) ha fornito un aggiornamento sulla commercializzazione del suo rivestimento THERMAL-XR®. L'azienda ha rilanciato THERMAL-XR® ENHANCE, concentrandosi sulle sue capacità di trasferimento di calore e protezione dalla corrosione per attrezzature HVAC sia nuove che esistenti. GMG sta conducendo test sul campo con produttori di climatizzazione globali in Cina e negli Stati Uniti per un potenziale implementazione in fabbrica.
L'azienda sta anche esplorando nuove applicazioni in settori come impianti di GNL, prodotti elettronici e mercati automobilistici. GMG si sta preparando a presentare un Pre-Manufacture Notice (PMN) all'EPA degli Stati Uniti per ottenere l'approvazione per importare e vendere negli Stati Uniti senza limitazioni di volume o settore. THERMAL-XR® è stato nominato finalista per il premio AIRAH Prodotto dell'Anno, che sarà annunciato il 21 novembre 2024.
Graphene Manufacturing Group (TSXV: GMGMF) ha proporcionado una actualización sobre la comercialización de su recubrimiento THERMAL-XR®. La compañía ha relanzado THERMAL-XR® ENHANCE, centrándose en sus capacidades de transferencia de calor y protección contra la corrosión para equipos HVAC tanto nuevos como existentes. GMG está realizando pruebas en el lugar con fabricantes mundiales de aire acondicionado en China y EE. UU. para una posible implementación en fábrica.
La compañía también está explorando nuevas aplicaciones en industrias como instalaciones de GNL, productos electrónicos y mercados automotrices. GMG se está preparando para presentar un Pre-Manufacture Notice (PMN) a la EPA de EE. UU. para obtener aprobación para importar y vender en EE. UU. sin limitaciones de volumen o sector. THERMAL-XR® ha sido nombrado finalista para el premio AIRAH Producto del Año, que se anunciará el 21 de noviembre de 2024.
그래핀 제조 그룹 (TSXV: GMGMF)은 자사의 THERMAL-XR® 코팅 상용화에 대한 업데이트를 제공했습니다. 이 회사는 THERMAL-XR® ENHANCE를 재출시하며, 새로운 및 기존 HVAC 장비의 열 전달 및 부식 방지 기능에 중점을 두고 있습니다. GMG는 중국 및 미국에서 글로벌 에어컨 제조업체와 현장 시험을 진행하여 잠재적인 공장 구현을 위해 노력 중입니다.
이 회사는 또한 LNG 시설, 전자 제품 및 자동차 시장과 같은 산업에서의 새로운 응용 프로그램을 탐색하고 있습니다. GMG는 미국에서 수량이나 부문에 제약 없이 수입 및 판매를 승인받기 위해 미국 EPA에 사전 제조 통지 (PMN)를 제출할 준비를 하고 있습니다. THERMAL-XR®은 2024년 11월 21일 발표될 AIRAH 올해의 제품 상의 최종 후보로 선정되었습니다.
Graphene Manufacturing Group (TSXV: GMGMF) a fourni une mise à jour sur la commercialisation de son revêtement THERMAL-XR®. L'entreprise a relancé THERMAL-XR® ENHANCE, en mettant l'accent sur ses capacités de transfert de chaleur et de protection contre la corrosion pour les équipements HVAC neufs et existants. GMG effectue des tests sur site avec des fabricants mondiaux de climatiseurs en Chine et aux États-Unis pour une éventuelle mise en œuvre en usine.
L'entreprise explore également de nouvelles applications dans des secteurs tels que les installations de GNL, les produits électroniques et le marché automobile. GMG se prépare à soumettre un Pre-Manufacture Notice (PMN) à l'EPA des États-Unis pour obtenir l'approbation d'importer et de vendre aux États-Unis sans restrictions de volume ou de secteur. THERMAL-XR® a été nommé finaliste du prix AIRAH Produit de l'année, qui sera annoncé le 21 novembre 2024.
Die Graphene Manufacturing Group (TSXV: GMGMF) hat ein Update zur Kommerzialisierung ihrer THERMAL-XR® Beschichtung gegeben. Das Unternehmen hat THERMAL-XR® ENHANCE erneut auf den Markt gebracht und konzentriert sich auf dessen Wärmeübertragungs- und Korrosionsschutzfähigkeiten für sowohl neue als auch bestehende HVAC-Ausrüstung. GMG führt Vor-Ort-Tests mit globalen Klimaanlagenherstellern in China und den USA durch, um eine mögliche Implementierung in der Fabrik zu erforschen.
Das Unternehmen untersucht auch neue Anwendungen in Industrien wie LNG-Anlagen, Elektronikprodukte und den Automobilmarkt. GMG bereitet sich darauf vor, eine Pre-Manufacture Notice (PMN) bei der US EPA einzureichen, um die Genehmigung zu erhalten, in den USA ohne Mengen- oder Sektorbeschränkungen zu importieren und zu verkaufen. THERMAL-XR® wurde als Finalist für den AIRAH Produkt des Jahres Preis nominiert, der am 21. November 2024 bekannt gegeben wird.
- Re-launch of THERMAL-XR® ENHANCE with potential for both HVAC aftermarket and OEM applications
- Ongoing on-site testing with global Air Conditioning Manufacturers in China and USA
- Expansion into new industries beyond HVAC, including LNG facilities and electronic products
- Finalist for AIRAH Product of the Year award, indicating industry recognition
- Preparation of PMN application for EPA approval, potentially allowing unrestricted sales in the USA
- Departure of Chief Projects Officer Bobby Bran after 6 years of service
- Decision to outsource major project activity, indicating a shift in operational strategy
Brisbane, Queensland, Australia--(Newsfile Corp. - October 16, 2024) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to provide a business update on the commercialisation progress of THERMAL-XR® Powered by GMG Graphene.
CUSTOMER ENGAGEMENT UPDATE
GMG continues to carry out both Supply and Service Coating for various Air Conditioning Manufacturers, Distributors, Contractors and end equipment owners - including the large HVACR condensing units showing the black coating of THERMAL-XR on the condenser coils seen in Figure 1.
Figure 1: GMG Team Members in front of large HVACR condensing units coated with THERMAL-XR
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At an event on 4th October 2024 in Brisbane, Australia that included the broad participation of HVAC industry representatives, GMG successfully RE-launched THERMAL-XR® ENHANCE. The focus of the event was on Thermal-XR's unique heat transfer and corrosion protection capabilities. When first developed, the product was named THERMAL-XR® RESTORE because the Company believed its principal benefit was to restore the heat transfer capabilities of existing installed air conditioners. However, GMG has since proved with third party verification that the product can also enhance the heat transfer of new equipment; hence the re-branding to THERMAL-XR® ENHANCE.
As a result, GMG now believes that THERMAL-XR® ENHANCE has exciting opportunities with HVAC Original Equipment Manufacturers ("OEMs") in addition to its potential in the HVAC aftermarket. Over the past several months, GMG has completed on-site testing of THERMAL-XR® with global Air Conditioning Manufacturers in China and the USA for potential introduction into their factories. While further customer testing will be required, GMG believes early results are promising.
Apart from applications in the HVAC industry, the unique heat transfer capabilities of THERMAL-XR® ENHANCE has also led to potential new applications in a wide range of industries where reducing heat is important. For example, customer managed Third Party Laboratory Testing with THERMAL-XR® is now being done with companies that operate LNG facilities; companies that manufacture electronic products; and companies that produce motors for the industrial and automotive markets. Further testing will be required to confirm the benefits of using THERMAL-XR® ENHANCE in such applications.
Figure 2: RE-LAUNCH of THERMAL-XR® ENHANCE
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As shown in Figure 2, THERMAL-XR® ENHANCE will now be available in 5 litre pails, instead of the original 10 litre containers. Customers have expressed their preference for lighter weight pails because they believe they are easier to lift onto roof tops for spraying in-situ air conditioners. Generally, 5 Litres of THERMAL-XR can be used to spray up to 5 small to medium size air conditioners, covering approximately 50 square metres of solid plate.
As previously announced, GMG and Nu Calgon have signed an agreement and are working with a consultant to prepare and submit a Pre-Manufacture Notice ("PMN") in conjunction with its USA Environmental Protection Agency's ("EPA") application to import and sell in the USA. The PMN application is expected to be submitted before the end of October, and the approval is expected to take less than 12 months. The PMN will be substantially different from the Low Volume Exemption ("LVE") PMN that was previously submitted by GMG. Unlike the LVE PMN application that was limited to 10 tons per annum and one application technique in the HVAC sector, the PMN EPA approval that GMG is now seeking will not be limited by volume, application and any one particular sector.
INDUSTRY RECOGNITION
THERMAL-XR® is a finalist in the AIRAH Product of the Year - to be announced on 21st November 2024. AIRAH, the Australian Institute of Refrigeration, Air Conditioning and Heating, is the peak body representing the HVAC&R industry in Australia. Officially incorporated by guarantee on March 29, 1920, AIRAH celebrated its Centenary anniversary in 2020.
The AIRAH Awards provide our industry with the opportunity to reflect, applaud, and raise a toast to our peers and their achievements - from promising future leaders to established sector veterans; from the finest new projects to the best retrofits; as well as the greatest in refrigeration, renewable energy, and research. Independent industry specialists determine a shortlist of finalists, from which a winner is selected by an expert judging panel. This rigorous and impartial process makes the AIRAH Awards the most highly prized accolades in Australia's HVAC&R building services industry.
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GMG's Managing Director and CEO, Craig Nicol, commented: "We believe GMG continues to make good progress in testing its products in large global OEM's for various types of products in various applications whilst our technical understanding of the coating improves - creating an exciting cycle of innovation and learning with our customers and how we make the graphene and coating, how it is applied and also how it is marketed and sold."
GMG's Chairman and Director, Jack Perkowski, commented: "THERMAL-XR® testing in so many of these applications is very exciting to see and I am encouraged by its potential for progress in these markets."
TEAM UPDATE
GMG would like to thank Bobby Bran, Chief Projects Officer ("CPO"), for his near 6-year service at the Company. In the Company's continued efforts to transform into a commercial operation, the Company has decided to outsource major project activity going forward and as such will no longer need a CPO.
On behalf of GMG and its Board of Directors, Craig Nicol and Jack Perkowski would like to thank Bobby for his dedication and service during his near 6-year tenure at the Company.
About THERMAL-XR® powered by GMG Graphene:
THERMAL-XR® 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® 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 processes
- Build Revenue from Energy Savings Products
- Develop 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, the potential for THERMAL-XR® to enable energy producers to produce additional energy more efficiently, the potential for THERMAL-XR® ENHANCE to enhance the heat transfer of new equipment and its opportunities with HVAC industry and other industries where reducing heat is important, the timing of submission of the Company's PMN application, the receipt, timing and nature of approval by the EPA of the PMN application, the Company's goal of achieving optimal production line performance for THERMAL-XR® and the entering of full production.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation, assumptions regarding the development of extensions and enhancements to the THERMAL-XR® portfolio into a wider range of applications, that energy producers will be able to derive the expected benefits from the Company's products, that the Company's PMN application will be submitted on the timetable anticipated, that the EPA will approve the PMN application and on the timing anticipated, that the content of the EPA's approval will be as anticipated, and that the Company will be able to achieve optimal production line performance for THERMAL-XR® and enter full production. 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 there will be no developments of extensions or enhancements to the THERMAL-XR® portfolio into a wider range of applications, that energy producers will not derive the expected benefits from the Company's products, that the Company's PMN application will not be submitted on the timetable anticipated or at all, that the EPA will not approve the PMN application on the timing anticipated or at all, that the content of the EPA's approval will not be as anticipated, that the Company will be unable to achieve optimal production line performance for THERMAL-XR® or enter full production, 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 3, 2024 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/226793
FAQ
What is the new name of GMG's THERMAL-XR® product and why was it changed?
When is GMG expected to submit the Pre-Manufacture Notice (PMN) to the US EPA for THERMAL-XR®?
What new industries is GMG exploring for THERMAL-XR® applications beyond HVAC?
When will the winner of the AIRAH Product of the Year award, for which THERMAL-XR® is a finalist, be announced?
