Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) Announces Exciting Developments in THERMAL-XR Technology

3 min read | October 17, 2024 06:48 AM EDT | By Team Kalkine Media

Highlights

  • The product, now branded as THERMAL-XR ENHANCE, features enhanced heat transfer and corrosion protection capabilities.
  • GMG is set to submit a Pre-Manufacture Notice to the US EPA, paving the way for broader application and use.
  • THERMAL-XR ENHANCE has been shortlisted for the Australian Institute of Refrigeration, Air Conditioning, and Heating Product of the Year Award.

Graphene Manufacturing Group Ltd has provided a significant update on the commercialization of its THERMAL-XR technology, showcasing ongoing customer engagements and industry recognition.

In a recent event in Brisbane, GMG re-launched its innovative product, now known as THERMAL-XR ENHANCE. This rebranding reflects the technology's expanded capabilities, particularly in enhancing heat transfer in new HVAC equipment, a feature validated through third-party testing. The shift from THERMAL-XR RESTORE to ENHANCE signifies the company’s commitment to continuous improvement and market responsiveness.

The company has been actively engaged in on-site testing with leading global air conditioning manufacturers in both China and the US. These collaborations are aimed at integrating THERMAL-XR ENHANCE into production lines. Initial results from these tests have been promising, although GMG anticipates conducting further assessments before the official market introduction. This diligence ensures that the product meets the rigorous standards expected in the competitive HVAC market.

Moreover, THERMAL-XR ENHANCE has captured attention across other industries where effective heat reduction is essential. Ongoing testing is taking place with companies involved in liquefied natural gas (LNG), electronics, and motor manufacturing, indicating the versatility and broad applicability of this graphene-based technology. The product's adaptability positions it well for various industrial and automotive applications.

In response to customer demand for practical field applications, GMG has also announced that THERMAL-XR will now be available in smaller five-litre pails. This adjustment enhances the product’s usability, making it easier for customers to handle and apply in various settings.

As part of its strategic initiatives, GMG is working with Nu Calgon to prepare a Pre-Manufacture Notice (PMN) for submission to the US Environmental Protection Agency, expected by the end of October. This PMN is particularly noteworthy as it will not be restricted by volume or sector, potentially facilitating a broader range of applications and uses for THERMAL-XR technology.

Adding to its accolades, THERMAL-XR has been shortlisted for the prestigious Australian Institute of Refrigeration, Air Conditioning, and Heating (AIRAH) Product of the Year Award, with winners to be announced in November. This recognition underscores the product's innovative features and the potential impact it could have on the industry.

CEO Craig Nicol expressed optimism about the company's progress, stating, "We believe GMG continues to make good progress in testing its products in large global OEMs for various types of products in various applications. Our technical understanding of the coating is improving, creating an exciting cycle of innovation and learning with our customers."

As part of the company's evolution into commercial operations, GMG also announced that it will be outsourcing major project activities. Chief Projects Officer Bobby Bran will step down after six years of dedicated service, marking a new chapter for the company.

In summary, Graphene Manufacturing Group Ltd is poised for significant advancements with its THERMAL-XR ENHANCE technology. With promising testing results, a strategic PMN submission, and industry recognition, the company is well-positioned for growth in various markets.


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