HydroGraph Clean Power, manufacturer of graphene and other nanomaterials, has announced a letter of intent (LOI) to form a partnership with Ceylon Graphene Technologies (CGT) via LOLC Advanced Technologies (LOLC AT), which owns a majority share of CGT through a joint venture with Sri Lanka Institute of Nanotechnology (SLINTEC).
The partnership will center around a novel composite graphene blend that is said to improve the charge acceptance of lead acid batteries by 47%. HydroGraph and LOLC AT agreed to commercialize this product and pursue the lead acid battery market, projected to be worth more than $47 billion by 2030, driven in part by electric vehicle dependency on the product.
Over the coming months, HydroGraph and LOLC AT will formalize the full partnership structure. In parallel, CGT will run all required product tests and analysis including building and testing lead acid batteries with the composite graphene blend of HydroGraph’s fractal graphene and CGT’s reduced graphene oxide. HydroGraph will lead and coordinate sales and marketing of the combined graphene product to a lead acid battery global market and further commercial applications.
HydroGraph and CGT have been working together for over six months on applications suited to the combination of their materials. The reported result is enhanced unique properties of the combined graphene products. HydroGraph and CGT will continue to develop other applications for the composite graphene blend in different markets.
“When we were first introduced to HydroGraph's graphene, we immediately recognized that combining it with CGT RGO would result in a unique and enhanced graphene product. Our belief was validated through extensive R&D and application work conducted at CGT’s advanced laboratories," stated Manju Gunewardene, CEO of CGT. “CGT is thrilled to be at the forefront of this groundbreaking partnership, and the company is confident that the joint venture will result in a game-changing product that will transform the graphene market.”