Quantum Graphite Limited announced the successful completion and results of the test work program undertaken at INEMET at TU Freiburg. This program tested and conclusively measured the thermal performance of QSP's flake graphite-based storage media (Uley Media) under the same ultra-high temperature conditions of the long duration energy storage (LDES) battery developed by Sunlands Co. Uley Media is manufactured using Uley 2 flake products as one of the critical ingredients.

The results highlights of the test work are: Heat storage capability - Confirmation of the heat storage capacity and performance of Uley Media for Sunlands Co. LDES battery cells driving utility scale turbine generation facilities. High Performance - Uley Media performs at substantially similar levels to that of high-grade isostatic products thereby significantly reducing the unit cost of LDES battery cells.

Uniformity - Uley Media performance is consistent across the purity and size fractions of Uley 2 flake products used to manufacture the media. Scale of Manufacturing ­ The uniformity and performance of Uley Media enable QSP's manufacture of Uley Media to be undertaken at a far greater scale than anticipated. Purity ­ the level of volatilisation of impurities within the Uley Media during the experimental program strongly suggests a material increase in purity and the potential viability of thermal purification of Uley 2 flake for the Li-ion battery anode market.