First Graphite (ASX: FGR) is pleased to advise it has satisfactorily completed the technical due diligence on the BEST Supercapacitor project. Highlights • Independent scientific due diligence was conducted on the technology by a renowned defence science and technology expert, making the following observation; • the science behind the supercapacitor is well developed. • Swinburne University of Technology (SUT) is on the leading edge of the strong international drive by research and industry to develop supercapacitor technology. • the performance of SUT’s capacitor is impressive, being a factor of around 3 higher in energy density than the nearest other superconductor SUT reported. This provides evidence that the SUT invention is significant. Swinburne University of Technology Supercapacitor FGR engaged a renowned physicist with over forty years’ experience in defence science and technology to complete a scientific due diligence of the SUT supercapacitor technology. The due diligence report concluded that the science behind the supercapacitor is well developed and technically sound. Furthermore, SUT is on the leading edge of the strong international drive by research and industry to develop supercapacitor technology. Based on international benchmarking provided by SUT, the performance of their capacitor is impressive, being a factor of around 3 higher in energy density than the nearest other superconductor they reported. This provided evidence that the SUT invention is significant. FGR had sought opinion on the suitability of the facilities and technology program and the due diligence report confirmed the suitability of the SUT facilities, along with the soundness of the technology goals. The SUT research program offers the potential for future second-generation development, including interesting concepts such as three-dimensional supercapacitor structures, as well as the direct use of high-quality graphene. FGR will now proceed to conclude the requisite legal documentation under an extension of time granted by parties, pursuant to the Binding Heads of Agreement.
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