Ceylon Graphene Technologies, a joint venture of LOLC Group and Sri Lanka Institute of Nanotechnology (SLINTEC), has developed this latest technology two years ago with the aim of placing Sri Lanka in the global market for graphene and associated products.

LOLC Advance Technologies Ltd., (LOLC AT), and HydroGraph Clean Power Incorporation, a commercial manufacturer of high-quality graphene, have recently entered into a Letter of Intent (LOI) to commercialize a jointly developed graphene blend that has shown significant improvements in battery performance.

Through a collaborative effort with the Sri Lanka Institute of Nanotechnology (SLINTEC), LOLC AT, holds a controlling stake in Ceylon Graphene Technologies (CGT), through which the group engages in graphene related research, innovations and undertakings over the years.

Under the terms of the LOI, LOLC AT and HydroGraph will work together to scale up production of the graphene blend and bring it to the market.

The partnership will centre on a novel composite graphene blend that improves the charge acceptance of lead acid batteries by 47%.

Sri Lanka is exporting graphite without any value addition at a price of US$3 per kg whereas the value added graphene fetches a price of over $3000 per kg, industry sources said.