Green Critical Minerals advances its Very High Density graphite technology with strong thermal performance validation, production scale-up, and strategic moves into global markets including a planned US listing.
- Independent tests confirm VHD graphite’s superior thermal expansion and heat sink performance
- Production scaled up with larger graphite blocks and enhanced manufacturing capacity
- Commercialisation accelerates with entry into South Korean market and outreach to North America
- US listing pursued after six-month due diligence to tap advanced technology markets
- Options underwriting raises $5.2 million, boosting cash reserves to approximately A$12 million
Thermal Technology Validation
Green Critical Minerals Ltd (ASX, GCM) has reported compelling progress in the September 2025 quarter, underpinned by independent validation of its Very High Density (VHD) graphite technology. Testing by the University of New South Wales confirmed that VHD graphite exhibits a coefficient of thermal expansion closely aligned with silicon, outperforming conventional metals by a factor of eight to twelve. This breakthrough suggests significant advantages in reducing thermal stress and enhancing the reliability and longevity of high-performance microchips.
Complementing this, Finite Element modelling conducted by the University of Sydney’s Center for Advanced Material Technology demonstrated that VHD heat sinks can handle power loads of 300 to 400 watts at typical microchip operating temperatures, substantially outperforming traditional materials like aluminium and copper. This positions GCM’s technology as a potential game-changer in thermal management for data centres and semiconductor applications.
Scaling Production and Market Reach
GCM has successfully scaled up production, manufacturing VHD graphite blocks up to 60×100×60mm, with larger sizes under development to meet global demand. Operational enhancements include the addition of two new furnaces and implementation of quality management systems targeting ISO 9001 certification by year-end. These steps reflect the company’s readiness to support broader commercial distribution.
On the commercial front, GCM has expanded its customer engagement, notably entering the South Korean market with positive initial feedback and ongoing partnership discussions. The company is also actively pursuing market entry in North America and other Asian regions, distributing product samples to prospective clients and semiconductor manufacturers. The appointment of Tony Allen as General Manager – Commercial signals a strategic focus on accelerating customer outreach and commercialisation efforts.
Strategic Financial and Corporate Moves
Financially, GCM executed a $5.2 million options underwriting agreement, successfully raising funds through the exercise of options and issuance of shortfall shares. This has bolstered the company’s cash position to approximately A$12 million, providing a solid foundation for ongoing operations and growth initiatives.
Significantly, GCM is pursuing a US listing following an extensive six-month due diligence process. The move aims to leverage the deep capital markets and technology sector opportunities in North America, enhancing access to a broad customer base and potential strategic partnerships. The establishment of a US-domiciled entity further supports this ambition, facilitating product registration and direct engagement with key industry players.
Exploration and Legal Updates
While the company’s core focus remains on VHD technology commercialisation, exploration activities continued with limited physical work on several mineral projects. Legal proceedings with NH3 Clean Energy remain unresolved, representing an ongoing risk factor. Meanwhile, GCM maintains its 80% interest in the McIntosh Graphite Project and continues preparatory work for environmental approvals and metallurgical studies.
Overall, GCM’s September quarter report paints a picture of a technology-driven company transitioning from development to commercialisation, supported by robust financial management and strategic market expansion.
Bottom Line?
GCM’s validated VHD graphite tech and strategic US listing bid set the stage for a pivotal growth phase in advanced thermal management.
Questions in the middle?
- How quickly will GCM’s VHD graphite technology gain traction among global semiconductor manufacturers?
- What are the potential impacts of the ongoing legal dispute with NH3 Clean Energy on GCM’s project timelines?
- How will the US listing influence GCM’s access to capital and partnerships in the competitive thermal management market?