GMG moves toward new 10-tonne graphene plant
Graphene Manufacturing Group (GMG) has announced that it will invest AU$900,000 (around US$578,400) ahead of commissioning a planned 10 tonne per annum graphene plant, supported by a recent capital raise. According to a statement from GMG, the board’s approval for the investment will support early works for the expected plant, to be built at the company’s existing gas-to-graphene production site at Richlands, Brisbane.
The early works expenditure was “largely included” in the proposed use of proceeds for the aforementioned financing. At the time it also said net proceeds would cover R&D on its Graphene Aluminium-Ion Battery, sales efforts, working capital, and preparations to list on “a major United States exchange”.