GMG Signs Exclusive Global MOU with Alstom to Advance Graphene-Enhanced Rail HVAC Technologies

Exclusive Collaboration Focuses on Global Rail Transportation Market

GMG and Alstom have agreed on a global exclusive MOU to test and develop graphene-enhanced products tailored for rail industry applications, with an initial emphasis on HVAC systems. These systems are critical for modern rail infrastructure, demanding superior performance, durability, and efficiency.

The exclusivity clause grants GMG sole rights to collaborate with Alstom on graphene product development and commercialization for rail applications during the MOU term. This global exclusivity distinguishes the partnership from other graphene technology collaborations in transportation and serves as a significant endorsement of GMG’s technology platform.

Alstom’s Extensive Global Presence and Industry Leadership

Alstom is recognized as a "pure rail leader" committed to sustainable transportation solutions. The company designs and delivers a broad portfolio including high-speed and regional trains, metros, monorails, trams, turnkey systems, comprehensive services, infrastructure, signaling, and digital rail technologies. Operating in 61 countries with 87,800 employees, Alstom brings vast global expertise and localized market knowledge to the partnership.

For the fiscal year ending 31 March 2026, Alstom reported revenues of 0.2 billion. This scale offers GMG access to a major transportation infrastructure operator with established relationships across global markets, serving cities, governments, and rail operators worldwide. The partnership underscores Alstom’s technical sophistication and global reach as a strong validation of GMG’s graphene technology in demanding industrial environments.

GMG’s Proprietary Graphene Production and Product Portfolio

GMG, an Australian clean-technology firm, develops, manufactures, and markets energy-saving and energy storage solutions enabled by its proprietary graphene production process. GMG decomposes natural gas (methane) into carbon (graphene), hydrogen, and residual hydrocarbons, producing high-quality, cost-effective, scalable, and tunable graphene with minimal contaminants.

GMG’s four main business objectives include graphene production and scaling cell manufacturing, generating revenue from energy-saving products, advancing next-generation battery technologies, and expanding supply chain, partnerships, and project execution capabilities. The company initially targets graphene-enhanced HVAC-R coating technology, expanding applications to electronic heat sinks, industrial plants, and data centers. Additionally, GMG has developed a graphene lubricant additive aimed at reducing liquid fuel consumption, initially for diesel engines. In energy storage, GMG collaborates with the University of Queensland, supported by the Australian Government, to advance graphene aluminium-ion battery (G+AI Battery) research and commercialization, alongside developing a graphene additive slurry to enhance lithium-ion battery performance.

Executive Insights on Strategic Importance

Craig Nicol, GMG’s CEO and Managing Director, commented: "We are excited to partner with Alstom, one of the world’s foremost rail and transportation companies. This global exclusive MOU allows GMG to introduce our graphene technology into one of the largest and most technically challenging sectors globally. Rail systems require exceptional performance, durability, and efficiency, and we believe graphene can deliver significant enhancements across various applications. We look forward to collaborating closely with Alstom to develop and commercialize graphene products that will help shape the future of rail."

Jack Perkowski, Non-Executive Chairman and Director of GMG, stated: "Securing a global exclusive MOU with Alstom is a landmark achievement for GMG. Alstom operates at the highest level of global transportation infrastructure, serving cities, governments, and rail operators worldwide. The fact that a company of Alstom’s scale and technical sophistication has chosen GMG exclusively to evaluate, develop, and commercialize graphene-based rail products is a powerful endorsement of our technology and team. This partnership could unlock new revenue streams and reinforces our strategy to target large, established industries where graphene’s unique properties can create tangible real-world benefits."

Graphene’s Role in Enhancing Rail HVAC Systems

While specific technical details on graphene’s impact on rail HVAC systems were not disclosed, the announcement emphasizes the rigorous demands for performance, durability, and efficiency in rail applications. Graphene’s unique properties position it as a promising solution across multiple rail system components.

Focusing initially on HVAC systems offers a strategic entry into the broader rail transportation market. HVAC is essential for thermal regulation, operational durability, and energy efficiency in trains. GMG’s prior success marketing graphene-enhanced HVAC-R coatings for electronic heat sinks, industrial plants, and data centers provides a strong foundation for adapting these technologies to rail-specific needs.

Strategic Market Positioning and Growth Potential

This partnership aligns with GMG’s strategy to penetrate large, established industries where graphene can deliver measurable impacts. The rail sector is characterized as one of the largest and most technically demanding markets worldwide. Through this exclusive collaboration with a major global rail operator, GMG aims to differentiate its graphene platform and establish a foothold in a capital-intensive sector with substantial infrastructure investment.

The potential to generate new revenue streams is highlighted, although the announcement does not specify financial targets, commercial timelines, or MOU terms. The exclusivity and scale of the partnership serve as a strong validation of GMG’s technology and provide strategic advantages in accessing Alstom’s global customer base.

Forward-Looking Statements and Risk Factors

The announcement includes forward-looking statements reflecting management’s expectations about future developments, including the global exclusive MOU with Alstom, graphene’s potential to improve applications, new revenue opportunities, commercial scale-up plans, and ongoing battery technology research and commercialization efforts.

These statements are based on assumptions such as successful co-development of graphene products suitable for rail applications and adoption by Alstom and its customers. Risks include potential delays or failure in the co-development process, underperformance of graphene products, and other factors detailed in GMG’s annual information form dated 4 November 2025, available on sedarplus.ca.

Development Timeline and Future Outlook

The MOU represents a preliminary agreement focused on collaborative evaluation and development rather than a finalized commercial arrangement. Specific timelines for product development, testing, or commercialization were not disclosed.

Investors will likely monitor forthcoming updates on testing scope, technical milestones, and progress toward commercializing graphene-enhanced rail products. GMG emphasizes its commitment to working closely with Alstom to advance these developments, indicating an ongoing partnership rather than immediate product launch.

Impact on GMG’s Business Strategy and Competitive Edge

The exclusive MOU with a leading global transportation infrastructure company is a major market validation for GMG’s graphene technology platform. Partnering with Alstom, a top-tier global operator, enhances GMG’s credibility and demonstrates its technology’s capability in challenging industrial environments.

This collaboration supports GMG’s goals of expanding revenue from energy-saving products and strengthening supply chain and partnership networks. Working with an established global player in a capital-intensive, regulated industry may accelerate market entry and reduce commercialization risks compared to independent efforts. However, ultimate success depends on product development, performance validation, and adoption by Alstom and its customers.