KUALA LUMPUR, Feb 8 (Bernama) -- Graphjet Technology Sdn Bhd ("Graphjet Technology" or “Graphjet”), a frontrunner in green graphite production, today celebrates a milestone in its journey towards becoming a publicly traded entity. The company’s De-SPAC transaction, recently greenlit by the U.S. SEC, paves the way for a Nasdaq listing, valuing Graphjet at USD 1.49 billion pro forma enterprise value. This development not only signifies Graphjet's business growth but also its commitment to shaping a green supply chain ecosystem globally.

Mr Aiden Lee Ping Wei, Co-founder and Chief Executive Officer of Graphjet Technology, shared his excitement about the nearing completion of Graphjet's journey to becoming a publicly traded entity. " Our commitment to sustainable innovation takes a new leap with our Nasdaq listing. We're not just producing green graphite; we're at the forefront of developing advanced green battery anode materials. This move underscores our role in the global shift towards renewable energy solutions.

Graphjet's innovative process converts palm kernel shells, an abundant local byproduct, into premium-grade graphene and graphite, crucial for green battery technologies. This process epitomises the company's strategy of turning waste into valuable materials, contributing significantly to the green supply chain for battery anode materials.

Graphjet's involvement in sustainable production extends beyond material conversion. The company actively participates in global efforts to establish sustainable supply chains in the battery and graphite industries. Graphjet's products stand at the intersection of efficiency and sustainability, offering customers innovative solutions that meet the escalating demand for environmentally friendly materials.

“This is a prime example of how local resources can fuel global technological advancements. This listing is more than a corporate milestone; it's a message about Malaysia's role in the sustainable technology narrative.” Aiden Lee said.

Graphjet's ascendancy isn't just a corporate triumph; it heralds a new era for Malaysia's economy. The company's growth is set to spur job creation and invigorate local industries, fostering a robust economic ecosystem centred on sustainable practices.

“Our success is rooted in continuous innovation, especially in green technology. Our research efforts ensure we remain at the forefront of sustainable graphite production,” Aiden Lee said.

Graphjet's focus on environmental, social, and governance (“ESG”) principles has been integral to its business model. By prioritising sustainable practices, Graphjet is adhering to its corporate responsibility and addressing the growing global demand for environmentally friendly products.

The company's participation in key global forums underscores its commitment to sustainable practices and its position as a thought leader in the industry:

• Graphjet made an impactful presence at the Future Minerals Forum 2024 in Riyadh, contributing to discussions on sustainable mineral value chains.
• As a partner of Benchmark Week 2023, Graphjet reinforced its role in the lithium-ion battery supply chain and the broader energy transition sector.
• Collaborating with MIT, Graphjet joins the ranks of leading global enterprises, strengthening its pioneering position in the graphite and graphene industry.

The anticipated growth in the graphene market offers a promising outlook for Graphjet’s role in the sector. According to a study by Mordor Intelligence in 2023, the graphene market is expected to experience significant growth in the coming years. Graphjet’s strategic initiatives, including the NASDAQ listing and expansion in the Southeast Asian market, position the company to capitalise on these emerging opportunities and reinforce Malaysia's standing in the global tech industry.

SOURCE : Aegis Communication on behalf of Graphjet Technology
 
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--BERNAMA