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17 Oct 2014 07:00
For Immediate Release | 17 October 2014 |
Graphene NanoChem PLC
("Graphene NanoChem" or the "Group")
Collaboration To Develop Graphene-Enhanced Lithium-ion Battery For Electric Buses
Graphene NanoChem (AIM: GRPH), the performance chemicals and advanced materials company, is pleased to announce that Platinum Nanochem Sdn Bhd; its wholly-owned subsidiary, has entered into a product development and collaboration agreement ("Agreement") with Sync R&D Sdn Bhd ("Sync R&D") on a joint initiative to develop a 'next generation', graphene-enhanced lithium-ion battery ("Li-on Battery") solution for electric buses under the Electric Bus 1 Malaysia program ("EB1M Program").
Under the agreement, Graphene NanoChem and Sync R&D will partner to contribute resources to develop and integrate a graphene-enhanced Li-on Battery into a prototype electric shuttle bus in Malaysia designed and developed by Sync R&D, with Graphene NanoChem taking the lead role in the applications development activities to design and produce the graphene-enhanced lithium-ion battery ("Li-on Battery Project").
Under the Malaysian Economic Transformation Program, the Government has announced its aim to accelerate the Electric Vehicles policy and regulations for public and private transportation, targeting 2,000 electric buses and 100,000 electric cars on the road by 2020. The 2015 Malaysian Budget, announced in October 2014, set the target to introduce 50 electric buses initially, with the first anticipated in early 2015. A critical component to this initiative is the development of the infrastructure to enable electric vehicle component manufacturing in Malaysia, including for Li-on Battery technology and manufacturing.
The Li-on Battery is anticipated to be a critical component for electric vehicles as a fully charged battery will enable the bus to travel between 180 and 200km before requiring to be recharged.
A graphene-enhanced anode, a component in the Li-on Battery, has been proven to provide 10 times more power storage and significantly reduces the time required to recharge the battery. Graphene NanoChem will work to develop further the Li-on Battery technology, with the primary aims of increased durability and enhancing further the storage capability, giving increased distances travelled before requiring recharge.
The Li-on Battery Project marks the first stage of development of a graphene-enhanced Li-on Battery with high capacity, high durability and increased charging speed for integration into the prototype electric bus with the aim of commercial rollout deployment under the EB1M Program upon completion of successful prototyping, integration and testing. The first prototype of the graphene-enhanced Li-on Battery is expected to be completed in 2016.
The global Li-on Battery market is expected to grow to US$ 65 billion by 2020 and US$ 130 billion by 2025, driven by worldwide demand for better energy storage system and its growing usage in electric vehicles, consumer electronics such as smartphones, tablets, notebooks as well as renewable energy applications.
Jespal Deol, Chief Executive Officer of Graphene NanoChem, commented: "We are delighted to announce this partnership, which will enable Sync R&D to continue its tradition of innovation in engineering solutions and will expand Graphene NanoChem's graphene applications in the energy sector.
Growing demand for the Li-on Battery and increased pressure in the industry to improve the technology provides an opportunity for Graphene NanoChem to eventually bring to market improved solutions to industry players who stand to benefit from a graphene-enhanced Li-on Battery."
For further information:
Graphene NanoChem | Tel: +603 2282 3080 |
Jespal Deol, Chief Executive Officer | |
Panmure Gordon (NOMAD and Broker) | |
Fred Walsh / Adam James / Tom Salvesen | Tel: +44 (0) 20 7886 2500 |
Tom Nicholson | Tel: +65 68248204 |
Buchanan | Tel: +44 (0) 20 7466 5000 |
Mark Edwards / Fiona Henson / Jason Day |
About Graphene NanoChem
Graphene Nanochem plc is a technology commercialisation company that operates two commercial platforms, the Advanced Chemicals platform that manufactures renewable chemical products for high growth sectors and the Advanced Materials platform that focuses on graphene nanomaterials applications for selected industries targeting high performance use.
Headquartered in Malaysia, Graphene Nanochem was admitted to the AIM of the London Stock Exchange on 26 March 2013, following the reverse acquisition of Biofutures International plc, and trades under the symbol GRPH.L.
To find out more, please visit www.graphenenanochem.com.
About Sync R&D
Sync R&D is an engineering solutions company providing complete engineering solutions for product development specialising in trouble shooting and solving complex engineering problems, improvising engineering systems and machinery and engineered systems development.
Established since 2006, Sync R&D has an established track record in designing, developing and building avant-garde engineering solutions for high profile domestic and international clients including the oil and gas sector. Sync R&D is registered with the Ministry of Finance, Malaysia (MOF) and PETRONAS, Malaysia's national petroleum company.
To find out more, please visit http://sync-rnd.com/.
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