Global mining company Rio Tinto has invested $6 million in Brisbane-based battery company Graphene Manufacturing Group (GMG) to accelerate the development and utilization of GMG’s graphene aluminum-ion batteries. This joint development agreement marks a breakthrough for GMG as it aims to offer an alternative to dominant lithium-ion batteries.
GMG’s batteries charge 70 times faster, last longer, and are more environmentally friendly. If successful, these batteries could be used in various applications, including electric vehicles, mobile phones, and drones. The partnership with Rio Tinto, which is committed to achieving net-zero emissions by 2050, focuses on developing the batteries for use in heavy mobile equipment and grid-energy storage in mining operations.
GMG will retain ownership of the intellectual property, and Rio Tinto will have the right to procure and use the batteries. The collaboration with Rio Tinto will enable GMG to prove the technology’s viability in different sectors.
GMG’s advantage lies in its cost-effective process of making graphene powder directly from gas. The graphene aluminum-ion batteries have increased density, are safer, and do not require materials like lithium, copper, cobalt, or rare earth elements.
The batteries are also rechargeable and fully recyclable. GMG expects to have a battery cell ready within a year and a prototype battery pack for trials with Rio Tinto within two years. Although the primary deployment of the initial prototype is for mining equipment, the agreement with Rio Tinto will serve to demonstrate the viability of the graphene aluminum-ion battery technology for various other applications.
Source: Financial Review (afr.com)
Image Source: GMG