HydroGraph Clean Power Inc. has announced a letter of intent (LOI) to form a Partnership with Ceylon Graphene Technologies (PT) Ltd. (CGT) via LOLC Advanced Technologies (LOLC AT), which owns a majority share of CGT through a joint venture with Sri Lanka Institute of Nanotechnology (SLINTEC). The partnership will center around a novel composite graphene blend that improves the charge acceptance of lead acid batteries by 47%. With such stellar game-changing results, HydroGraph and LOLC AT agreed to commercialize this product and pursue the lead acid battery market, projected to be worth more than $47 billion by 2030, driven in part by electric vehicle dependency on the product.

Over the coming months, HydroGraph and CGT have been working together for over six months on applications suited to the combination of their materials. The result is enhanced unique properties of the combined graphene products. HydroGraph and CGT will continue to develop other applications for the composite graphene blend in different markets.

This LOI is a further example of HydroGraph delivering on its ambitious commercialization goals in 2023, following a very disciplined business development approach to develop applications and build customer confidence in the purity graphene on the market.