First Graphene (ASX:FGR) has applied for a patent for its process to manufacture graphene enhanced materials for electrocatalysts used in hydrogen production.
This new process uses existing capital equipment to create new grades of graphene that is mixed with cost-effective base metals such as aluminium, cobalt, copper, iron, nickel, and zinc. These metals were previously unattainable.
First Graphene, which has a market capitalisation of $21.43 million, says the patent ensures the company is recognised as the inventor of this process.
The patent also reinforces the company’s position within the global electrocatalyst materials market which is forecast to reach US$1.2 billion ($1.93 billion) by 2030.
As a result, First Graphene will be able to make more cost-effective graphene materials used for the economic production of hydrogen by water electrolysis as an alternative global energy source.
CEO Michael Bell says the company continues to make progress in the emerging hydrogen sector as the new patent filed represents a step forward.
“The electrocatalyst market is ever growing and I look forward to the commercialisation opportunities presented by this new process,” Bell says.
The technology can also be used in other areas that require improved thermal and electrical conductivity of these graphene enhanced materials which is shown by superior performance for water electrolysis.
First Graphene notes 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.
First Graphene is focused on developing advanced materials, as well as supplying graphitic materials and product formulations with specific commercial focus on large, high-growth global markets.
Write to Aaliyah Rogan at Mining.com.au
Images: First Graphene
