Graphjet poised for expansion after successful NASDAQ listing
Graphjet Technology Sdn Bhd (Graphjet) is poised for expansion of its green graphite production following its successful listing onto the NASDAQ stock exchange on March 15.
To recap, Graphjet is graphite producer that utilises its own patented technologies to convert agricultural waste into highquality graphite and graphene.
Its successful listing on the NASDAQ had managed to raise circa US$5.8 million or RM27.42 million which it plans to use to accelerate its growth strategy and expand its manufacturing capacity.
In a press release, the world’s only direct biomass-to-graphite producer guided that its newest production facility is scheduled to commence operations in the second quarter of 2024 (2Q24) and will bolster the group’s production capacity to meet growing demand.
And in response to this growing global demand for graphite and graphene, Graphjet has guided that they are also actively exploring opportunities to deploy its technology at scale in North America and other regions.
According to Graphjet, the global demand for graphite and graphene is currently surging due to its role as a viral material in various sectors, including energy storage and batteries, lubricants, and conductive materials.
This is especially apparent in the United States where battery storage and battery electric vehicles (BEV) industries are rapidly expanding.
“With the majority of graphite production currently concentrated in China, Graphjet is set to become a key supplier to the US. market, offering a more sustainable and costeffective alternative,” said Aiden Lee Ping Wei, Co-founder and Chief Executive Officer (CEO) of Graphjet.
And with the global shift in attitude towards more environmentally sustainable manufacturing practices, the group’s unique manufacturing process will likely be sought after as it significantly reduces the negative environmental impact associated with traditional graphite production.
Compared to traditional graphite production, Graphjet’s manufacturing process boasts a 83 per cent smaller carbon footprint and 80 per cent reduced manufacturing cost, positioning the player as a frontrunner in the global shift towards sustainable manufacturing practices.
“Our goal is to leverage our sustainably produced graphite and graphene to drive innovation across multiple industries, ultimately creating a greener and more sustainable future,” Lee stated.