Rio Tinto Chief Scientist, Nigel Steward, said, “We are excited to expand and deepen our partnership with GMG. On successful completion of the joint project, Rio Tinto would have the right to procure and use the batteries in their operations. GMG will retain ownership of the intellectual property of the GMG Graphene Aluminium Ion Battery Pouch Cell and Battery Pack. Success could see performance enhancements for Rio Tinto, including faster charging and longer-life batteries for heavy mobile equipment and grid energy storage, as well as supporting Rio Tinto’s decarbonisation ambitions. Rio Tinto will seek to involve Original Equipment Manufacturers (OEM), including Heavy Mobile Equipment OEMs, to work with GMG and Rio Tinto to align the battery pack development with end use requirements. The JDA aims to co-develop GMG’s Graphene Aluminium-Ion battery pouch cell into an initial battery pack/module proof of concept. This JDA is effective immediately and is expected to last 2 years with payments spread over the term of the agreement. The JDA builds on the existing collaboration for Rio Tinto to explore the use of GMG’s Energy Saving and Energy Storage solutions (see Company announcement on ). The JDA seeks to support the accelerated development of GMG’s Graphene Aluminium-Ion Batteries for use in heavy mobile equipment and grid energy storage applications in the mining and mineral industry. Rio Tinto has put the net zero transition at the heart of its business strategy: combining investments in commodities that enable the energy transition with actions to decarbonise their operations and value chains. Rio Tinto will contribute technical and operational performance criteria and A$6 million, in exchange for preferential access rights. (TSX-V:GMG) (“GMG” or the “Company”) is pleased to announce that GMG and Rio Tinto have signed a binding Joint Development Agreement (“JDA”) with the goal of accelerating the development and application of GMG’s Graphene Aluminium-Ion batteries in the mining and minerals industry. BRISBANE, QUEENSLAND, AUSTRALIA – Graphene Manufacturing Group Ltd.
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