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​Graphene Manufacturing Group updates on strengthening working capital and cutting costs 

Graphene Manufacturing Group (GMG) has provided an update detailing its strengthened working capital and significant cost reductions.

The Company received AUD$2.85 million (around USD$1,840,000) under Australia’s R&D Tax Incentive program, raising its cash balance to AUD$5.56 million (about USD$3,600,000) as of November 1, with no outstanding debt or loan facilities. Australia’s R&D Tax Incentive continues to be a major support mechanism for GMG, covering 43.5% of eligible R&D expenses each year. This funding has proven vital in advancing GMG’s research and development, particularly for projects in energy savings and energy storage.

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Graphene Manufacturing Group (GMG) has provided an update detailing its strengthened working capital and significant cost reductions.
The Company received AUD$2.85 million (around USD$1,840,000) under Australia’s R&D Tax Incentive program, raising its cash balance to AUD$5.56 million (about USD$3,600,000) as of November 1, with no outstanding debt or loan facilities. Australia’s R&D Tax Incentive continues to be a major support mechanism for GMG, covering 43.5% of eligible R&D expenses each year. This funding has proven vital in advancing GMG’s research and development, particularly for projects in energy savings and energy storage. 

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