TORONTO, April 30, 2024 (GLOBE NEWSWIRE) -- HydroGraph Clean Power Inc. (CSE: HG) (OTCQB: HGCPF) (the “Company” or “HydroGraph”), a commercial manufacturer of pristine graphene, announced today that its flagship graphene product, FGA-1, has been chosen by Volfpack Energy Ltd., a hardware company focused on using supercapacitor technology to increase the adoption of renewable energy across Asia. The global supercapacitor market is estimated at $4 billion in 2023 and is expected to reach $12 billion by 2032 with a CAGR of 12%.1
Its flagship product, fractal graphene, FGA-1, was chosen by Volfpack to be the base material of the supercapacitor design after Volfpack’s engineers determined that it outperformed materials traditionally used in supercapacitors, such as activated carbon, by 4x.
“HydroGraph’s fractal graphene has shown significantly higher results than leading alternatives, while the team at HydroGraph has been incredibly supportive,” said Maithri Dissanayake, Volfpack’s head of product. The company plans to use its technology to create a hybrid battery system that will reduce the cost of solar energy storage.
FGA-1 has already shown great performance in other energy storage applications, such as in lead acid battery electrode additives and lithium-air (Li-O2) battery cathode materials.
“This new application of fractal graphene as an electrode material for supercapacitors for the adoption of renewable energy fits our theme of sustainability,” said Ranjith Divigalpitiya, HydroGraph’s chief science officer. HydroGraph is the third company to be certified globally by the Graphene Council and sustainably produces the world’s purest graphene at 99.8% carbon.
HydroGraph’s graphene production process is believed to be the most environmentally friendly globally, requiring only oxygen, acetylene and a spark (i.e. minimal energy consumption). The result is graphene and hydrogen. No carbon needs to be mined and no hazardous byproducts or greenhouse gases are created. Its patented Hyperion system is modular, portable and able to produce over 10 tons of graphene per year.
“Our performance improvements within energy storage devices continue to be a key area of growth for the company,” said Kjirstin Breure, HydroGraph’s president and CEO. “The results we have seen within the past few months alone show a clear path to expediting the path to commercialization for our patented pristine graphene.”
ABOUT VOLFPACK ENERGY LTD.
Volfpack Energy is at the forefront of renewable energy storage, leveraging advanced supercapacitor, battery and software technologies. Our integrated solutions combat the intermittent challenges of solar and wind power, ensuring consistent energy storage and delivery. For more information, visit https://volfpackenergy.com.
ABOUT HYDROGRAPH CLEAN POWER INC.
HydroGraph Clean Power Inc. was founded in 2017 to fund and commercialize green, cost-effective processes to manufacture high-purity graphene, hydrogen and other strategic materials in bulk. Publicly listed on the Canadian Securities Exchange in December 2021, the Company acquired the exclusive license from Kansas State University to produce both graphene and hydrogen through their patented detonation process. More information about the Company and its products can be found on the HydroGraph website: www.hydrograph.com/
For company updates, please follow HydroGraph on LinkedIn and X.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
Forward-Looking Statements
This release contains certain “forward looking statements” and certain “forward-looking information” as defined under applicable Canadian securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “intend”, “estimate”, “upon” “anticipate”, “believe”, “continue”, “plans” or similar terminology.
Forward-looking statements and information include, but are not limited to: statements in respect of the Private Placement, the use of the net proceeds from the Private Placement, the timing and ability of the Company to close the Private Placement, if at all, the gross proceeds of the Private Placement, the timing and ability of the Company to obtain all necessary regulatory approvals, if at all, and the terms and jurisdictions of the Private Placement; the statements in regards to existing and future products of the Company; the Company’s future personnel appointments; the Company’s plans and strategies.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of HydroGraph to control or predict, that may cause HydroGraph’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: HydroGraph’s ability to implement its business strategies; risks associated with general economic conditions; adverse industry events; stakeholder engagement; marketing and transportation costs; loss of markets; volatility of commodity prices; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; industry and government regulation; changes in legislation, income tax and regulatory matters; competition; currency and interest rate fluctuations; and other risks. HydroGraph does not undertake any obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management’s best judgment based on information currently available.
No forward-looking statement can be guaranteed, and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements.
CONTACTS
HydroGraph Investor Relations Contact
Salisha Ilyas, Target IR
salisha@targetir.com
Kjirstin Breure, HydroGraph President and CEO
kjirstin.breure@hydrograph.com
408.267.2556
Media Contact
Kristin Schaeffer
kristin@amfmediagroup.com
1 https://www.precedenceresearch.com/supercapacitors-market
