Business
HydroGraph ties up with LOLC Advance Tech to tap $47 B market
LOLC Advance Technologies Private Limited (LOLC AT), a wholly owned subsidiary of LOLC Holdings PLC 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 engage 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 around a novel composite graphene blend that improves the charge acceptance of lead acid batteries by 47%. With such stellar game-changing results, HydroGraph and LOLC AT agreed to commercialize this product and pursue the lead acid battery market, projected to be worth more than $47 billion by 2030, driven in part by electric vehicle dependency on the product. The partnership will leverage their expertise in graphene production to accelerate commercialization and drive adoption of the technology. The blend incorporates a unique combination of graphene and other carbon-based materials, resulting in an electrode with enhanced electrical conductivity, stability and durability.
“We are excited to partner with HydroGraph to bring this game-changing technology to the market,” said Danesh Abeyrathne, Chief Executive Officer of LOLC Advanced Technologies. “This partnership demonstrates our commitment to investing in cutting-edge technologies that have the potential to transform industries and drive economic growth.
“LOLC as one of the most diversified multinational conglomerates in Sri Lanka, has been investing in advance technologies for the past many years. This partnership with HydroGrpaph represents a significant milestone in the development of graphene-based materials for commerAcial applications in endorsing our potentiality across the international arena. I believe our combined expertise and resources will now enable us to scale up production and bring this technology to the market, unlocking its capability to revolutionize the battery industry.”
For more than six months, HydroGraph and CGT have collaborated on exploring the potential applications of combining their materials. As a result, the combined graphene products now possess enhanced and distinctive properties. Moving forward, HydroGraph and CGT aim to further advance the development of other applications for this composite graphene blend across various markets. This LOI is a significant step in HydroGraph achieving its ambitious commercialization goals for 2023, driven by a meticulous business development strategy that prioritizes the development of applications and establishing customer trust in the highest quality graphene available in the market.
Mr. Manju Gunewardene, Chief Executive Officer, CGT stated, “When we were first introduced to HydroGraph’s graphene, we immediately recognized that combining it with CGT Reduced Graphene Oxide (RGO) would result in a unique and enhanced graphene product. Our belief was validated through extensive R&D and application work conducted at CGT’s advanced laboratories, CGT is thrilled to be at the forefront of this groundbreaking partnership, and the company is confident that the joint venture will result in a game-changing product that will transform the graphene market.”
Commenting on the partnership, Mr. Stuart Jara, Director/ Chief Executive Officer of HydroGraph stated, “The work HydroGraph and CGT have done together and the LOI show the power of our strategy, and the importance of leveraging different but complementary competencies that each party brings to the partnership. We will continue to leverage this association to explore other applications; this is a big step in the process of bringing the highest quality and most cost-effective graphene to the world.”
In the upcoming months, HydroGraph and LOLC AT will work on finalizing the complete partnership framework. Meanwhile, CGT will conduct all necessary tests and analysis on the product, including the development and testing of lead acid batteries using the composite graphene blend of HydroGraph’s fractal graphene and CGT’s reduced graphene oxide. HydroGraph will take charge of leading and organizing the sales and marketing of the combined graphene product in the global lead acid battery market and other potential commercial applications.
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
-
News5 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News4 days agoBid for Basil’s extradition nears final stage: Police
-
Features7 days agoThe emptying university: why are academics leaving?
-
News3 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
Business5 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
Opinion7 days agoWho committed genocide and created mass graves in Sri Lanka?
-
Opinion5 days agoA journalist who wrote across the divide
-
News2 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
