GMG updates on commercialization progress

Graphene Manufacturing Group (GMG) has provided a business update on the commercialization progress of THERMAL-XR powered by GMG Graphene.

GMG has announced it has received forward orders of over AU$400k (around USD$255,000) for THERMAL-XR from various distributors and customers worldwide. Most of the value of these orders is conditional on the in-country approval for the THERMAL-XR to be imported from Australia and sold into that country for the product's initial launch.


The Company also continues to progress negotiations with a wide range of distributor and direct industrial end-use customers for a range of applications and hopes to make further announcements soon.

Preparations for the early 2024 product launch in the USA by Nu-Calgon are advanced with marketing, sales and customer engagement activities well progressed supported by continuing demonstrations of successful energy savings results. 

THERMAL-XR is said to be progressing through the USA Environmental Protection Agency's (EPA) approval process to import and sell in the USA. The Company believes the potential approval will be received in Q4'23.

GMG's Managing Director and CEO, Craig Nicol, commented: "The progress GMG is making is exciting. End customers and distributors are now starting to generate notable revenue for the Company, and our THERMAL-XR® product is now starting to be recognized as being an energy-savings solution for Heating, Ventilation, Air-Conditioning, Cooling and Refrigeration (HVAC-R) equipment as well as a range of industrial applications. We continue to build capabilities to support these expected increased sales by upgrading our production facilities including our quality management systems."

Posted: Oct 31,2023 by Roni Peleg