New Energies, new possibilities

Paris -- In a challenging market environment for green hydrogen and with the aim of limiting the financing needs of its subsidiary Elogen, GTT announces that it is undertaking a strategic review of the latter's activities.

This strategic review will lead the Group to explore all possible options regarding its subsidiary. Its initial conclusions are expected to be presented in the coming weeks, and no later than at the release of the 2024 annual results. Until then, the Group will refrain from commenting on the options under consideration.

Furthermore, GTT confirms its 2024 revenue and EBITDA targets, which are expected to be at the top of the guidance ranges, as indicated in October 2024.

About Elogen

Elogen is the French leader in proton exchange membrane (PEM) electrolysis, specialised in the design and assembly of electrolysers for producing green hydrogen. We leverage our innovative spirit and cutting-edged technological know-how to serve the industry and energy markets in France and around the world. https://elogenh2.com/en/

About GTT

GTT is a technological expert in containment systems with cryogenic membranes used to transport and store liquefied gases. For 60 years, GTT has been designing and providing cutting-edge technologies for a better energy performance, which combine operational efficiency and safety, to equip LNG carriers, floating terminals, land storage, and multi-gas carriers. GTT also develops systems dedicated to the use of LNG as fuel, as well as a full range of services, including digital services in the field of Smart Shipping. The Group is also active in hydrogen through its subsidiary Elogen, which designs and assembles electrolysers notably for the production of green hydrogen. https://gtt.fr/

Highlights

• Patent filed for a manufacturing process used to produce graphene based electrocatalysts for hydro
• Improved cost effectiveness in metal oxide deposited graphene
• Widespread opportunities for application across global electrocatalyst material market valued at more than USD$1billion

First Graphene Limited (ASX:FGR; “First Graphene” or “the Company”) has filed a patent for its unique process to manufacture graphene enhanced materials for electrocatalysts used in the production of hydrogen.

The modified electrochemical process uses existing capital equipment to create new grades of metal oxide deposited graphene, leveraging cost-effective base metals such as cobalt, iron, nickel, zinc, aluminium, vanadium and copper which were previously unattainable.

The patent ensures First Graphene is globally recognised as the inventor of this modified process, which opens up new channels to cost effective graphene based electrocatalysts used for the economic production of hydrogen by water electrolysis as an alternative global energy source.

The new technology can also be extended to applications that require improved thermal and electrical conductivity of these graphene enhanced materials which is demonstrated by superior performance for water electrolysis1.

There are additional broader market opportunities for materials produced by the process including combustion and industrial catalysts, photocatalysts, lithium battery cathodes, and fuel cell catalysts.

This new patent reinforces First Graphene’s position within the global electrocatalyst materials market which is forecast to reach USD $1.2 billion by 20302.

First Graphene Managing Director and CEO Michael Bell said:

“We continue to make exciting progress in the emerging hydrogen sector, this new patent filed by our research and development team is another significant step forward for the Company.

The electrocatalyst market is ever growing and I look forward to the commercialisation opportunities presented by this new process.”

1FGR ASX Announcement from 21st March 2024
2Skyquest Marketing (2023) Global Hydrogen Production Catalysts Market Insights

About First Graphene Ltd (ASX: FGR)

First Graphene Limited is focused on the development of advanced materials to help industry improve. The Company is a leading supplier of graphitic materials and product formulations with a specific commercial focus on large, high-growth global markets including cement and concrete; composites and plastics; coatings, adhesives, sealants and elastomers (CASE); and energy storage applications.

One of the key outcomes these advanced materials offer is the reduction of carbon dioxide emissions, whether directly through a reduction in output of these harmful greenhouse gases or lower energy usage requirements in manufacturing, or indirectly due to enhanced performance characteristics and extending the usable life of products.

First Graphene has a robust manufacturing platform based on captive and abundant supply of high-purity raw materials, and readily scalable technologies to meet growing market demand. As well as being the world’s leading supplier of its own high performance PureGRAPH® graphene product range, the Company works with multiple industry partners around the world as a supplier of graphitic materials and partner to research, develop, test and facilitate the commercial marketing of a wide range of sector-specific chemical solutions.

First Graphene Ltd is publicly listed in Australia (ASX:FGR) and has a primary manufacturing base in Henderson, near Perth, WA. The Company is incorporated in the UK as First Graphene (UK) Ltd where it has a strong R&D capability.