BRISBANE, QUEENSLAND, AUSTRALIA – TheNewswire - May 11, 2021 - Graphene Manufacturing Group Ltd. (TSXV:GMG) (“GMG” or the “Company”) is pleased to share the initial performance data when tested in coin cells for the patent-pending surface perforation of graphene in aluminium-ion batteries developed by the Company and the University of Queensland (“UQ”). The experiments were performed at the Australian Institute for Bioengineering and Nanotechnology (“AIBN”) at UQ. Initial performance data is presented below. Currently, GMG Graphene is being used to produce coin cell prototypes for customer testing in Q4 2021.

Source: 1. Hongjie Dai, Nat. Commun., 2017, 8:14283 2. Hongjie Dai, Nature, 2015, 520, 325, and 3. University of Queensland testing data.

GMG announced recently the execution of a research agreement with UQ’s AIBN to develop graphene aluminium-ion batteries (please refer to the Company’s News Release dated April 22, 2021, for further details). Under the agreement, GMG will manufacture commercial battery prototypes for watches, phones, laptops, electric vehicles and grid storage with technology developed at UQ. GMG has also signed a license agreement with Uniquest, the University of Queensland commercialisation company, which provides GMG an exclusive license of the technology for battery cathodes.    

GMG CEO and Managing Director Craig Nicol said, “We are currently looking to bring coin cell commercial prototypes for customer testing in 6 months and a pouch pack commercial prototype – used in mobile phones, laptops etc. - for customer testing in 18 months. We are really excited about bringing this to market. We aim to have a viable graphene and coin cell battery production facility project after customer validation that we would likely build here in Australia,” said Craig Nicol.

Dr Ashok Nanjundan, GMG’s Chief Scientific Officer, said, “This is a real game-changing technology which can offer a real alternative with an interchangeable battery technology for the existing lithium-ion batteries in almost every application with GMG’s Graphene and UQ’s patent-pending aluminium ion battery technology. The current nominal voltage of our batteries is 1.7 volts, and work is being carried out to increase the voltage to directly replace existing batteries and which lead to higher energy densities.”

“The real differentiator about these batteries is their very high power density of up to 7000 watts/kg, which endows them with a very high charge rate. Furthermore, graphene aluminium-ion batteries provide major benefits in terms of longer battery life (over 2000 charge / discharge cycles testing so far with no deterioration in performance), battery safety (very low fire potential) and lower environmental impact (more recyclable),” said Dr Ashok Nanjundan.

GMG will make further disclosures regarding the performance and development of these graphene aluminium ion batteries as the research and development program progresses.

About GMG

GMG is an Australian based clean-tech disruptive company listed on the TSXV (TSXV:GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company’s proprietary process, GMG can produce high quality, low cost, scalable, ‘tuneable’ and no/low contaminant graphene – enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this low input cost source of graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.

 The Company is also in the early stages of pursuing additional opportunities for GMG Graphene, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance of lube oil, biodiesel and diesel fuels.

For further information, please contact:

- Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223

- Leo Karabelas at Focus Communications, leo@fcir.ca, +1 647 689 6041

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements relating to the manufacturing of prototypes by GMG and UQ, anticipated timelines for commercial prototypes and customer testing, the development and viability of GMG’s production facilities, the location of GMG’s production facilities, and the results arising from and application of GMG’s graphene aluminium-ion batteries. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, including, but not limited to, the risk factors set out under the heading "Risk Factors" in the Company's final long form non-offering prospectus dated March 31, 2021 available for review on the Company's profile at www.sedar.com, many of which are beyond the ability of the Company to control or predict. Such risk factors may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, assumptions regarding the Company’s ability to research, develop and test its products within anticipated timelines, and that results of testing and development data will be consistent with anticipated results and estimates. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.