Graphene Manufacturing Group Ltd. announced that the Company has signed a Queensland Critical Minerals and Battery Technology Fund Agreement with the State Government of Queensland for a grant of AUD 2 million towards the funding of GMG's proposed Automated Battery Pilot Plant for the manufacture of GMG's Graphene Aluminium Ion Battery. The State Government of Queensland established the Queensland Critical Minerals and Battery Technology Fund to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth. 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 AUD 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.