First Graphene has recently made a couple of ASXreleases regarding significant progress on the graphenefront. The first one concerned the production of grapheneoxide, the second one detailed progress with thedevelopment of an electrocatalyst for the production ofhydrogen.
GO opens up new commercial opportunities
FGR has specialised in the production of graphene powder(nano-flakes) that can be added to many materials toimprove a range of performance parameters. The mostnotable one to date has been the addition to cement toreduce greenhouse gas emissions. Up until now it has notdone much in the graphene oxide (GO) space butcontinued R&D has shown that its manufacturing facility atHenderson is capable of producing this material, which isuseful for a whole range applications new to the Company.
Graphene oxide (GO) is similar to graphene but has a highoxygen content which makes it readily dispersible in water.The material is strong, flexible and porous with a highsurface area, which is suitable for filtration andsupercapacitor applications. It is hydrophilic rather thanhydrophobic.First Graphene's product will meet the needs of variousindustries, with strong demand already identified in waterpurification and desalination processes. The Company iscurrently in discussions with customers in these markets.Graphene oxide's characteristics make it suitable for use inpolar thermoplastic polymers, such as PVC, polyesters andnylon, as well as aqueous coatings. The graphene oxidemarket presents a significant opportunity for the Company,poised to reach USD$2.7 billion by 2030.
FGR had already reached the status of the leadinggraphene company in the world, achieving greatertechnical and commercial success than its competitors. TheGO development will further strengthen its position andmake it more able to meet the requirements of customersacross a wider range of applications. To be able to enterthis market using the existing production facility is asignificant achievement.
Electrocatalyst a game changer on hydrogen costs
The hydrogen bubble we saw a year or two ago hasdeflated, if not popped. For all the hype at the time it wasobvious that industry needed to make further technicalbreakthroughs before being commercially viable for the bigpicture.One of the areas that needed improvement was theperformance of electrocatalysts, necessary to reduceenergy requirements in making hydrogen when splittingwater by electrolysis. The electrocatalysts are essential forthe economic production of 'green hydrogen'.Current state-of-the-art electrocatalysts use high-cost raremetals such as iridium and ruthenium. However, test workhas shown that FGR's electrocatalyst solution performsremarkably well compared to a commercial rutheniumcatalyst, resulting in close to three-times the output ingen production while using the same quantity of ruthenium.FGR's research has been funded by a $183,000 grant fromInnovate I-JK. An additional $155,000 has been provided byThe Centre of Expertise in Advanced MaterialsSustainability in the I-JK. This will fund the next step todefine process parameters in pilot-scale production ofgraphene catalyst materials, which is a necessary steptowards full-scale production and partnerships with endusers.Electrolyser manufacturing capacity is expected to growglobally from 19 gigawatts per year to 155 gigawatts peryear by 2032. From this, a projected 35 gigawatts per yearis expected to be in the form of Proton ExchangeMembrane (PEM) electrolysers. As First Graphene'senhanced electrocatalysts are well suited for hydrogensynthesis in a PEM electrolyser, this could be the start of anew growth profile for the Company. It is all very positivewith a number of growth curves opening up.
The Bottom Line
The commercialisation Of any new technology takes time,and therefore patience. Graphene is no exception to thisobservation, but shareholders in FGR can be confident thatthey own a piece of the world's leading graphene company.FGR it progressing with the qualification trials to havePureGraph added to cement, to reduce carbon emissionsof that sector by 10-15% and unlock the door to a veryprofitable business. Simultaneously it continues to maketechnical progress on a number of fronts such as the twomentioned above.
FGR Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
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