Northwire Canada EditionTuesday, August 25, 2026
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M&A / Property Routine +

GMG Delivers Its First Ever Bulk Shipment of THERMAL-XR(R) to Nu Calgon in the USA

First bulk US shipment confirms commercial execution, but revenue scale and cash burn remain the defining near-term variables.

By The Northwire Desk — AI Analysis Jun 17, 2026 · 08:01 GMG · 2.29 Graphene Manufacturing Group Ltd.
Executive Summary
  • GMG has delivered its first bulk shipment of THERMAL-XR® graphene coating to Nu-Calgon Wholesaler, Inc., its exclusive North American distributor.
  • The shipment marks the commercial transition of the product in the US HVAC-R market, following EPA authorization (P-25-0018) secured in March 2026.
  • The product is marketed in North America as "Nu-Calgon CoolWorx® powered by GMG® Graphene".
  • Nu-Calgon will leverage its extensive US and Canadian distribution network to deploy the energy-saving solution, with plans for strategic collaboration across multiple industrial sectors.
  • GMG is transitioning from development to commercial scale-up, initially targeting HVAC-R before expanding to electronic heat sinks, industrial plants, and data centers.
  • The company continues parallel development of a graphene lubricant additive and graphene aluminium-ion batteries (G+AI Batteries) with government funding.
Material Impact
  • The shipment confirms that GMG has moved past regulatory hurdles and is executing on its US commercialization roadmap.
  • It provides a tangible proof-of-concept for the US market but does not yet disclose order volumes, pricing, or immediate revenue impact.
  • The news is incremental to the March 2026 EPA approval and the initial dispatch announcement. It validates the supply chain and distributor relationship but does not fundamentally re-rate the business or alter the capital requirements needed to scale.
  • Given the company's current revenue run rate (~AUD 331k for nine months), this milestone is operationally significant but financially immaterial in the near term.
GMG · Price
Company Overview
  • GMG is a graphene manufacturing and advanced materials company focused on commercializing energy-saving products.
  • Core products include THERMAL-XR® (a graphene-based coating for HVAC-R, data centers, and industrial heat exchangers) and G®LUBRICANT (a graphene additive for diesel engines).
  • The company is also developing next-generation Graphene Aluminium-Ion (G+AI) batteries, currently at Battery Technology Readiness Level 4.
  • Strategic objectives include scaling graphene production, generating revenue from energy-saving products, advancing battery technology, and establishing global supply chain partnerships.
  • The company has secured regulatory approvals in the US (EPA), Europe (REACH), and Australia, and has partnered with distributors like Nu-Calgon and Curran International.
Read the original news release →

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M&A / Property