GCM signs 24-month thermal agreement with Jinshiyu
Key points
- GCM agreed to a binding 24-month development pact with Shenzhen Jinshiyu Technology to create an integrated thermal management product.
- GCM shares rose 13.3% to $0.051 following the release of the market update.
- The partnership supports GCM's commercial strategy of embedding its heat plate technology into partner-manufactured cooling systems.
GCM (ASX:GCM) signed a binding 24-month agreement with Shenzhen Jinshiyu Technology to develop an integrated cooling product.
The move follows GCM's joint programme with Shenzhen Wanwei Heat Conduction Technology, which recently advanced to evaluation manufacturing.
Under the pact, Jinshiyu will lead commercial sales while sourcing proprietary heat plates directly from GCM.
The company stated that the framework establishes no guaranteed purchase volumes or committed production revenue.
Following the announcement, the GCM share price was up at $0.051.
GCM stated that its broader commercial strategy relies on embedding components into systems designed by industry partners.
The business continues working with prospective industrial customers to qualify prototypes for target electronics markets.
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