Graphene Manufacturing Group Ltd (TSX-V:GMG, OTC:GMGMF) (GMG) announced that it has signed a non-binding agreement with Rio Tinto Group to collaborate on energy saving and storage solutions.
As part of the agreement, the parties will explore the use of energy-efficient products in Rio Tinto’s operations, explore the possibility of working together to support GMG’s development of graphene aluminium-ion (G+Al) batteries and collaborate on mining and other industrial applications.
GMG’s partnership with Rio Tinto is an important step towards GMG’s goal of becoming a leading global supplier of energy-efficient products as well as G+AI batteries, as the company continues to reduce the risks associated with commercial scale of its technology, said GMG’s chief executive. and CEO Craig Nicol said in a statement.
“We are delighted to collaborate with Rio Tinto, one of the largest mining companies in the world which is committed to leveraging cutting-edge technologies for efficient and low-carbon operations. The collaboration with Rio Tinto adds a another key element to GMG’s major partnerships to develop our G+ Al Batteries following recent agreements with Wood for scaling up graphene production and Bosch for automated battery production,” he said. he declares.
Additionally, Rio Tinto’s aluminum sourcing and industrial battery hardware application development will complement GMG’s battery development plans.
Low carbon future
As part of the agreement, GMG and Rio Tinto will discuss testing GMG’s energy-saving products in existing and new industrial applications to achieve energy savings and reductions. carbon emissions to support Rio Tinto’s decarbonization goals.
Rio Tinto will also consider supplying GMG with aluminum materials, one of the key components of G+Al battery technology, with the aim of optimizing and accelerating battery development.
“Our companies share a vision of a low-carbon future and we see great potential in the partnership,” said Rio Tinto chief scientist Nigel Steward.
GMG and Rio Tinto will also investigate the use of G+Al batteries in various Rio Tinto mining and industrial applications and, if successful, could support Rio Tinto’s transition to low-carbon operations.
“We aim to develop a truly green battery from our low-carbon aluminum that could transform the way we supply and store power in everything from a leaf blower to a mining haul truck,” said Stewart.
Rio Tinto, a leading mining and metals company operating in 35 countries, has committed to net zero by 2050 and is targeting a 15% reduction in scope 1 and 2 emissions by 2025, through compared to 2018, and a 50% reduction by 2030 .
GMG is a clean technology company that offers energy saving and energy storage solutions, made possible by graphene, including those manufactured in-house through a proprietary production process. GMG has developed a proprietary production process to break down natural gas into its elements, carbon, hydrogen and certain residual hydrocarbon gases. This process produces high-quality, low-cost, scalable, “tunable” and low-to-non-contaminant graphene suitable for use in cleantech and other applications.
In the energy savings segment, GMG focused on graphene-enhanced heating, ventilation, and air conditioning (HVAC-R) coatings (or energy-saving paint), lubricants and fluids. In the energy storage segment, GMG and the University of Queensland are working with financial support from the Australian government to advance the R&D and commercialization of G+AI batteries.
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