Graphene Manufacturing Group Secures AU$2 Million Funding Grant from Queensland Government for Battery Pilot Plant
BRISBANE, AUS, Mar 25, 2024 - (ACN Newswire) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") announces that the Company has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the State Government of Queensland for a grant of AU$ 2 million towards the funding of GMG's proposed Automated Battery Pilot Plant for the manufacture of GMG's Graphene Aluminium Ion Battery.
- BRISBANE, AUS, Mar 25, 2024 - (ACN Newswire) - Graphene Manufacturing Group Ltd. (TSXV: GMG) (OTCQX: GMGMF) ("GMG" or the "Company") announces that the Company has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the State Government of Queensland for a grant of AU$ 2 million towards the funding of GMG's proposed Automated Battery Pilot Plant for the manufacture of GMG's Graphene Aluminium Ion Battery.
- The grant is for the payment of 50% of the capital cost of GMG's proposed Automated Battery Pilot Plant, up to a maximum of AU$ 2 million, for the manufacture of GMG's Graphene Aluminium Ion Battery.
- The Pilot Plant would be constructed at GMG Richland's existing manufacturing facility, and the grant is conditional on various preconditions including GMG taking a final investment decision in the Battery Pilot Plant project.
- GMG's CEO Craig Nicol stated, "We want to thank the Queensland Government and acknowledge its commitment to supporting the Critical Mineral and Battery Manufacturing Industry in the State.