GMG Announces Independently Verified Heat Transfer And Energy Savings Results From THERMAL-XR(R)

BRISBANE, AUS, June 1, 2023 - (ACN Newswire) - Graphene Manufacturing Group Ltd. (TSXV: GMG) ("GMG" or the "Company") is pleased to release further results of Energy Savings Tests on a 4.3kw refrigeration system and Heat Transfer demonstrations on Aluminium and Copper. The results provide additional confidence in the potential benefits of THERMAL-XR(R) (TXR) in a range of applications.

ENERGY SAVINGS WHEN THERMAL-XR(R) APPLIED TO A NEW CONDENSER COIL

In their ISO-approved facilities, GMG's testing partner Supercool Asia Pacific Pty Ltd undertook two comparison tests to assess the impact of TXR in enhancing the operating efficiency of a cooling system. The equipment used in the tests was a new customised 4.3kW Refrigeration Unit with an electronic expansion valve with variability disabled (Figure 1 outlines the test room layout). The pre-TXR-treated condenser coil had an existing industry standard coating (as seen in Figure 2), on which tests were run. This condenser coil was then coated with TXR (as seen in Figure 2) and the same tests were run again.

The first comparison test conducted was a Pull Down Test which assessed the time and energy required to reach a set temperature of 20C in the heat controlled room with an initial set temperature of 300C, controlled constant humidity level, and an outdoor temperature of 350C. This simulates a typical cold storage room with traffic subject to heat losses and required to cool down on multiple occasions to the set temperature. The quicker time to reach the set point cooling temperature, under the same conditions, highlights a reduction in energy consumption for the THERMAL-XR(R) coated condenser coil.

The second comparison test was an uninterrupted 48-hour Temperature Cycle test. This tests the impact of TXR on maintaining a constant set point temperature (for example where there is no periodic access to a cool room). The test measured the energy required over a 48-hour period to keep a cooling set temperature of 20C in a heat-controlled room with an outside temperature of 350C and controlled constant humidity level. The lower amount of energy required by the THERMAL-XR(R) coated unit, under the same conditions, highlights the energy savings.

Full test results will be available on GMG's website.

Craig Nicol, GMG's CEO summarised as follows "The Energy Savings results of THERMAL-XR(R) in an independent, third party, ISO-accredited testing laboratory with two testing methodologies is very exciting. The graphene-enhanced heat transfer properties of THERMAL-XR(R) have demonstrated that the performance of a new coil can be enhanced. This has significant potential for our targeted market of new air conditioners or Original Equipment Manufacturers (OEMs), as well as our existing target market of installed air conditioners. It also helps put into context those GMG projects where results on old equipment have achieved even higher energy savings."

HEAT TRANSFER VERIFICATION

GMG has also been working with potential industrial customers to demonstrate the potential for improved heat management through the application of TXR. As part of this demonstration programme, GMG has commissioned the University of Queensland Materials Performance Consultancy to verify a number of heat transfer demonstrations.

GMG is pleased to report that the University of Queensland Materials Performance Consultancy ("UQMP") verified that GMG's THERMAL-XR(R), demonstrations and results, when applied to Copper and Aluminium, changed the surface temperature when operating between 700C and 900C.

As seen in Figure 3 GMG's THERMAL-XR(R), when applied to a Copper plate, reduces the surface temperature by ~16% when operating between 700C and 900C compared with an uncoated plate. The chart below shows the temperature differences due to GMG's THERMAL-XR(R) when applied on a Copper plate with the same heat load.

As seen in Figure 4, when the THERMAL-XR(R) coating was applied to the top side copper plate, greater heat transfer was observed away from the common heat source (compared to the panel with no coating). Furthermore, the non-coated underside of the coated panel - being the side directly exposed to the heat source - remained approximately 16% cooler than the heat-exposed side of the uncoated panel, within the temperature range of 70degrees C to 90degrees C.

Aluminium top side Coating: Surface Temperature Reduction ~15%

GMG previously reported the UQ had verified a ~ 15% reduction when TXR was applied to the top side of aluminium, compared to un-TXR coated material (please refer to press release of 20th December 2022).

Underside Coating | Aluminium and Copper: Surface Temperature Increase

In addition to these two 'top side' coating tests, GMG is also pleased to release the results of testing of GMG's THERMAL-XR(R) applied on the underside of both Aluminium and Copper (see Table 4), where the result was to see the underside of the plates increase in temperature, again following the same testing methodology.

Summary of All Results to Date for TXR coating of Aluminium and Copper, either top side or underside

These results, shown in Figure 5, are very encouraging in outlining the application of TXR for various heat management applications creating the potential for operating efficiency and / or energy savings.

Figure 5: Temperature Increases and Decreases with TXR on Copper and Aluminium
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Relevance to Heat Exchangers in Air Conditioners and Industrial Applications

Copper and Aluminium are key metals used in HVAC-R equipment. This demonstration highlights that the external (top side) coating of the metal with THERMAL-XR(R) can improve heat transfer, potentially leading to Energy Savings because of reduced compressor and fan utilisation.

Relevance to Other Potential Applications

The coating of metal with THERMAL-XR(R) exposed to a heat source (Under side coating) can potentially act as a heat sink to keep heat within a requirement.

"GMG's THERMAL-XR(R)'s ability to increase and reduce heat transfer is clear in this simple demonstration with operating temperatures between 70degrees C to 90degrees C. The graphene-enhanced heat transfer properties of THERMAL-XR(R) seemingly outweigh the traditional insulating effect of coatings when cooling. GMG believes the ability to increase or reduce temperature with a simple application of the technically advanced THERMAL-XR(R) can significantly contribute to improved performance and efficiency while reducing energy demand in a wide range of applications," stated by Managing Director and CEO, Craig Nicol.

THERMAL-XR(R) powered by the GMG Graphene coating system is a unique method of improving the conductivity of heat exchange surfaces, resulting in an efficiency improvement and a potential power reduction when applied to air conditioning condenser coils or other industrial processes needing heat transfer.

The performance of existing air conditioners can also be increased with THERMAL-XR(R) process fluids (PREP and ACTIVATE) which clean and remove corrosion on the coil before applying the THERMAL-XR(R) RESTORE.

GMG is undertaking further assessments on other metals used in heat transfer applications and at various temperature settings and will publish market updates from time to time on these.

GMG is working with a number of companies globally including four recently signed distributors in Asia (announced 24th May 2023) and direct sales for the HVAC-R maintenance market. Furthermore, GMG is engaging with various companies for direct selling of THERMAL-XR(R) for industrial applications with high energy requirements, and high emissions - including oil and gas production, power generation, liquified natural gas production, mining, and mineral processing.

In addition, a number of customers are interested in the protective features of TXR graphene-enhanced coating, especially in harsh environmental conditions.

GMG's 4 critical business objectives are:

1. Produce Graphene and improve/scale the production process
2. Build Revenue from Energy Savings Products
3. Develop Next-Generation Battery
4. Develop Supply Chain, Partners & Project Execution Capability

About The University of Queensland Materials Performance (UQMP)

UQ Materials Performance was founded in 1998 and has since grown to become one of Australia's leading materials engineering consultancies. Our mission statement:

UQ Materials Performance serves the needs of society by applying research methodologies to answer technical questions. UQMP strengthens UQ research by building relationships of trust with industry partners, systematising knowledge gained in short-term projects, generating seed funding, and by direct involvement in structured research. UQMP inspires student learning by generating professional case studies which show their discipline in action.

UQMP has a dedicated team of engineers and industrial chemists with a wide range of experience and specialty skills. Our diverse and cross-disciplinary problem-solving approach also brings fresh perspectives to projects. Our team works closely together with our clients to clearly understand, define and tackle problems in a systematic yet direct manner. Our access to the world-class facilities of The University of Queensland puts us at the forefront of analytical science and engineering.

UQ Materials Performance operates out of The University of Queensland Advanced Engineering Building. We share the building with the Centre for Advanced Materials Processing and Manufacturing (AMPAM) and the School of Civil Engineering, allowing close collaboration on consulting and research projects.

About GMG

GMG is a disruptive Australian-based clean-tech 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 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 lubricant oil and performance-enhanced HVAC-R coating system.

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