VANCOUVER, BRITISH COLUMBIA – January 20, 2023 – Green Battery Minerals Inc. (the “Company”) (TSX-V: GEM, FSE: BK2P, WKN: A2QENP OTC: GBMIF) is very pleased to announce that the Company has executed a non-binding arm’s length Memorandum of Understanding dated January 18, 2023 (“MOU”) with a United Kingdom-based manufacturing company (“GRAPHENE STAR TRADING LTD.”) (“Graphene Star”). The purpose of this MOU is to work towards a definitive agreement, subject to the prior written approval of the Exchange. Graphene Star produces high-quality graphene products and has successfully taken graphite from Green Battery Minerals’ 100% owned Berkwood graphite project and created graphene with it. This graphene was then used to create lithium-ion batteries (“LIBs”) successfully. Graphene Star has completed initial test work on these batteries. The Company is very pleased to state that Graphene Star’s unique patented process has created “ESG friendly” LIBS.
Terms of the MOU for reaching a successfully negotiated definitive binding agreement, subject to the prior written approval of the Exchange, state the following:
- Green Battery, through a number of payments, may have the option to buy up to 19% of Graphene Star.
- Upon a definitive agreement being reached, any funds invested in Graphene Star may be used to pay for more testing of the anode material.
- Upon a definitive agreement being reached, Green Battery may appoint a Director to the Graphene Stars board at a certain point.
- Buy-in payments are subject to milestones being achieved in the battery-making and testing process.
- If the terms of the MOU are fully executed in a binding agreement, GEM will have the option to acquire up to 19% interest in Graphene Star by making gradual earn in payments of up to £2,000,000.
- Upon a definitive agreement being reached, Green Battery will provide 100 kg of 92% pure graphite for further testing, which Green Battery currently has in stock.
- Upon a definitive agreement being reached, Graphene Star will own 100% of all intellectual property, but GEM will have certain rights.
- Upon a definitive agreement being reached, Green Battery plans on financing the terms of this agreement on an as-needed basis through financings and/or the exercise of warrants.
Progress to date
Graphene Star, Green Battery and a UK university are at the forefront of EV battery technology. We have taken graphite from Green Battery’s project, purified it, created graphene from it, developed a graphene anode, and undertaken initial tests at a proof of concept level to show the possible uses of our graphite in LIB use. (see the picture below of the first batteries created).
Figure #1 Graphene Lithium Ion coil cell batteries made out of Green Battery graphite
Yingling, President and CEO of Green Battery, states, “I am very pleased to announce that we have successfully created graphene-containing Lithium-ion Batteries using graphite from our Berkwood Graphite Quebec property. Graphene-containing LIBs have shown to be far superior to traditional LIB. I am even more excited that we have discovered a proprietary technique with Graphene Star whereby we can build these batteries in an entirely environmentally friendly way without using any chemicals, emissions, pollution or cause waste. A graphene battery is superior on so many points and is better for the environment. The battery itself also costs significantly less to create, which can offer huge savings.
We look forward to the potential joint venture with Graphene Star and developing a next-generation graphene-containing lithium-ion battery.”
The results from making these first test batteries confirm that Green Battery’s graphite has good conductivity and the potential to work in the next generation of LIBs. Having received these good test results warrants more testing and refining the purification process to bring this battery technology to a commercial scale.
Graphene Star/Green Battery Advantages
- 100% of the graphite comes from a growing North American reliable and stable source.
- The proprietary technology used to convert the graphite to graphene for anode use is environmentally friendly, with a very low LCA (life cycle assessment) value compared with comparable sources.
- No chemicals are used in graphene production using Graphene Star’s technology.
- Graphene Star’s technology generates zero waste and high production efficiency.
- As well as environmental benefits, there is substantial cost savings as the process removes numerous steps and chemicals from the graphite purification process.
The technology that Graphene Star has been working on for LIBs has the potential to offer significant advantages over current LIBs, including:
- Higher electrical conductivity/density. Graphene has significantly higher electrical conductivity than graphite, giving it more stability and allowing for faster-charging cells that can also deliver very high currents. Graphene offers higher heat conductivity, so batteries run cooler, prolonging their lifespan even in cramped cases like smartphones. (A)
- Longer battery life. A significant increase in the amount of time the battery will hold a charge. Keeping a charge longer improves the battery’s lifespan. Graphene LIBs could have a service life of four times that of traditional hydrogenated batteries and twice that of lithium batteries. (D)
- Faster charging speed. A significant decrease in the time it takes to charge the battery. (D)
- More charge cycles. The number of times a battery can charge in its lifetime increases.
- Lighter and Smaller. Graphene can make batteries that are lighter and slimmer, durable and suitable for high-capacity energy storage. The characteristics of graphene significantly reduce the weight of the battery by up to 50% of a traditional battery. This decreases the weight of an electric vehicle, thus improving its efficiency. (A)
- More Power. The power storage capacity is three times that of the best products on the market. (C)
- Travel Longer. An electric car powered by graphene batteries can travel up to 1,000 kilometres, and its charging time is less than 8 minutes. (C)
- Lower cost. Lower cost. Graphene Star estimates that manufacturing costs could be 77% lower than lithium batteries. (C)
- Fits into the current LIB Process. This technology is expected to be readily integrated into existing LIB development and production line processes.
All these benefits are what electric vehicle car manufacturers look for in a stable, ESG-friendly, North American-sourced LIB with huge cost savings.
Graphene Star received graphite from the Company’s Berkwood Graphite project, located in Northern Quebec, Canada, to convert it to a graphene anode material to build a graphene anode LIB. Green Battery and Graphene Star are delighted to announce that not only was the graphite from the Berkwood project easily purified, but it was easily converted into a graphene anode and subsequently successfully used to build an initial coin cell LIB. Keeping with Green Battery’s strict ESG platform, we are pleased that these initial battery cell trials successfully utilized Graphene Star’s proprietary techniques. We created these batteries using an entirely environmentally friendly process without emissions. The proprietary technology does not use any chemicals in graphene or highly conductive graphite production, making this new process green, clean, and way more cost-effective than traditional means.
Graphene Star has patented a unique way of turning graphite into graphene. They also have several products on the market that use graphene, including a highly conductive paint, infrared heating, and graphene additive for compounds (https://graphene-star.com/graphene-1). GEM owning shares in Graphene Star, will also benefit from these products.
Benchmark Minerals Intelligence, one of the world’s leading battery element resource sources, states “the world will need an estimated 97 natural flake graphite mines to meet the required demand by 2035.”
Why Graphene Star
- Graphene Star’s process of converting graphite to graphene increases electrical conductivity.
- Graphene Star did simple tests to show our graphite was purifiable and had good conductivity.
- Graphene Star’s technology will also reduce the cost of purifying the graphite and provide a better ESG footprint.
- The new Graphene Star graphite processing technology is based on the hydrodynamic effect of acoustic and cavitation waves in a mixture of water and graphite on graphite particles with variable frequency. At the same time, there is no grinding of graphite particles since there are no forces of impact and grinding on graphite for processing.
Graphene Star is working closely with one of the UK’s top research universities to create these initial graphene batteries. The new graphene batteries were created using Graphene Star’s technology and Green Battery’s graphite.
About the Berkwood Graphite Project
The Berkwood Graphite Project is located within the jurisdiction of Quebec, in the Manicouagan Regional County Municipality, three hours’ driving time from the city of Baie-Comeau. Easy access is provided via a major secondary road, and numerous tertiary and forest roads traverse the property.
The Zone 1 deposit lies 8 km southwest of the Mason/Nouveau Monde Graphite Inc. (TSX-NOU) graphite deposit, which is the subject of a current feasibility study. The Company believes its Zone 1 deposit and that of Mason/Nouveau Monde share many similar geological characteristics, with the Zone 1 deposit being one of the highest-grade graphite deposits in the world.
About the Company: Green Battery Minerals is managed by a team with over 150 years of the collective experience and a proven track record of finding numerous mines and building and operating them. The Green Battery Minerals management team’s most recent success is discovering the Berkwood graphite deposit in Northern Québec. Green Battery Minerals owns 100% of this asset, and the Company’s shareholders will benefit from this asset as the demand for graphite for electric vehicles increases significantly.
On Behalf of the Board of Directors
Green Battery Minerals inc.
President, CEO & Director
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Disclaimer for Forward-Looking Information:
Certain statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include that the Company will carry out the drill program described in this news release, conduct the Offering and expend funds on Berkwood Graphite Project exploration. It is important to note that the Company’s actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that further permits may not be granted timely or at all; the mineral claims may prove to be unworthy of further expenditure; there may not be an economic mineral resource; methods we thought would be effective may not prove to be in practice or on our claims; economic, competitive, governmental, environmental and technological factors may affect the Company’s operations, markets, products and prices; our specific plans and timing drilling, fieldwork and other plans may change; we may not have access to or be able to develop any minerals because of cost factors, type of terrain, or availability of equipment and technology; and we may also not raise sufficient funds to carry out our plans. Additional risk factors are discussed in the section entitled “Risk Factors” in the Company’s Management Discussion and Analysis for its recently completed fiscal period, which is available under Company’s SEDAR profile at www.sedar.com. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. Except as required by law, we will not update these forward-looking statement risk factors.
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