The effects of gauge interactions in graphene have been analyzed up until now in terms of effective models of Dirac fermions. However, in several cases lattice effects play an important role and need to be taken consistently into account. In this paper, we introduce and analyze a lattice gauge theory model for graphene, which describes tight binding electrons hopping on the honeycomb lattice and interacting with a three-dimensional quantum U(1) gauge field. We perform an exact renormalization group analysis, which leads to a renormalized expansion that is finite at all orders. The flow of the effective parameters is controlled thanks to Ward identities and a careful analysis of the discrete lattice symmetry properties of the model. We show ...