GCM Corporation’s latest quarterly report confirms its VHD thermal management technology outperforms copper and aluminium, while commercial and US listing plans gain momentum.
- Independent testing confirms VHD’s superior thermal conductivity and diffusivity
- MoU signed with South Korea’s Komex Carbon to co-develop products
- Prototype heat sink manufacturing with sub-1mm fin thickness achieved
- ISO 9001 certification attained, US stock exchange listing process underway
- Strong cash position of A$10.48 million supports ongoing development
Validating VHD’s Thermal Edge
GCM Corporation has delivered a compelling update for the December 2025 quarter, reinforcing the promise of its proprietary VHD (Vertically Aligned Hexagonal Diamond) technology. Independent like-for-like testing by the University of New South Wales (UNSW) confirmed that VHD outperforms traditional thermal management materials, delivering 1.3 times the thermal conductivity of copper and three times that of aluminium. This positions VHD as a standout material for applications demanding superior heat dissipation.
Beyond conductivity, VHD’s thermal diffusivity, a measure of how quickly heat spreads, was also significantly higher, nearly five times that of aluminium and almost three times copper. These results validate earlier internal and inventor-reported data, underscoring VHD’s capability to manage dynamic heat loads effectively.
From Lab to Prototype
GCM has accelerated its product development efforts, appointing Dr Mark Baldry as Principal Thermal Engineer to spearhead the design and manufacturing of VHD-based heat sinks. Notably, the company has successfully produced prototype heat sinks with fin thicknesses below 1mm, a critical milestone demonstrating manufacturing feasibility at scale.
These prototypes are already being tested by customers across Australia, Europe, the US, and China, with positive feedback fueling further sample requests and prototype development. The company’s strategic MoU with South Korean graphite supplier Komex Carbon Corporation aims to leverage local expertise and relationships to penetrate the Korean market, signaling GCM’s intent to establish a global footprint.
Corporate Progress and Market Expansion
Reflecting its evolving focus, GCM officially changed its name to GCM Corporation Limited in December 2025, marking a shift towards becoming a producer of commercial thermal management products. The company also achieved ISO 9001 certification, a quality management milestone that enhances its credibility with customers and partners.
On the financial front, GCM maintains a robust cash position of A$10.48 million, supporting ongoing R&D and commercial activities. Importantly, the company has initiated the process for a US stock exchange listing, engaging advisors and holding discussions with both the NYSE and NASDAQ, aiming to broaden its investor base and access capital markets in 2026.
Mining Projects and Legal Matters
While the company’s core focus is shifting towards thermal management, it continues to advance its McIntosh Graphite Project with ongoing metallurgical testing and environmental reviews. Other mineral projects saw no on-ground activity during the quarter. Meanwhile, unresolved legal proceedings with NH3 Clean Energy concerning joint venture agreements remain a potential risk factor, though GCM continues to pursue resolution through the courts.
Bottom Line?
GCM’s validated VHD technology and strategic moves set the stage for a pivotal year ahead, with commercialisation and US market entry in sharp focus.
Questions in the middle?
- When will GCM convert current commercial discussions into firm sales agreements?
- How will the ongoing legal dispute with NH3 Clean Energy impact project timelines and partnerships?
- What scale of production and revenue can be expected from VHD-based products in the next 12 months?