Nasdaq-bound Graphjet Technology partners with SSP SwitzerlanD
The world’s first agricultural waste graphite/graphene producer valued at $1.5 billion.
Zurich, Switzerland, 15th March 2023
Graphjet Technology Sdn Bhd, (GTI) a leading graphite and single-layer graphene producer, has recently partnered with SSP as their strategic partner and advisor for international expansion.
Graphjet Technology aims to be a global leader in generating value by producing innovative, green and low-cost graphene, graphite and graphene-based anode materials. It was incorporated in 2019 in Kuala Lumpur and is currently valued $1.5 billion. Its patented technology to recycle palm kernel shells generated in the production of palm seed oil produces single-layer graphene and artificial graphite for electric vehicle (EV) batteries, medical devices and home appliances. Graphjet’s graphene is of higher quality than traditional graphene at a price that is 80% lower than the market and produces 70% less CO2.
The combined entity of Graphjet Technology Sdn Bhd and Energem Corp, a special-purpose acquisition company, has submitted its application to the United States Securities and Exchange Commission for the approval of its merger.
SSP partners and Mr. Aiden Lee in Switzerland
Aiden Lee Ping Wei, CEO and Founder of Graphjet, said: "SSP is an international player well connected between Asia and Europe with experts onboard addressing critical issues such as energy transition and carbon emission reduction. This is directly aligned with Graphjet's mission to provide sustainably sourced graphite and graphene critical to new energy innovation and net-zero contribution programs essential to fighting global climate change. We believe that sustainably sourced, low carbon emission graphite and graphene production at a price up to 80% less than traditional producers can transform and accelerate innovation critical to the new energy economy."
GTI, meanwhile, has also seen positive development in its plan to build a manufacturing plant in Malaysia with a production capacity of 10,000 tons of graphite and 60 tons of single-layer graphene, which will contribute to the revenue of RM3.8 bn per year.
"We have great growth ambitions for Graphjet Technology and will not only stop with one plant. We expect the first products to come online in the first quarter of 2025 and serve customers across Asia, Europe, and the United States in the automotive and renewable energy businesses," Mr. Lee said.
The Graphjet-Energem Proposed Combination
The proposed business combination, which has been approved by the boards of directors of Energem and Graphjet, is expected to be completed in early 2023, subject to, among other things, the approval by Energem's shareholders, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including a registration statement being declared effective by the SEC and approval by The Nasdaq Stock Market to list the securities of the combined entity.
Upon the closing of the business combination between Energem and Graphjet, Energem expects to be renamed Graphjet Technology and, as a publicly listed holding company, with Graphjet as its wholly owned subsidiary, be listed on the Nasdaq Global Market under the ticker symbol "GTI."
GraphJet Awards and Recognition (https://www.graphjettech.com/awards-recognition)
The World Economic Forum (WEF) New Champion
The World Economic Forum’s New Champions Community brings together purpose driven companies of mid-size whose leadership is mindful of their impact on society and aspiring in building a better future https://www.weforum.org/organizations/graphjet-technology
About Graphjet Technology Sdn. Bhd.
Graphjet Technology Sdn. Bhd. was founded in 2019 in Malaysia as an innovative and ESG-friendly graphene and graphite producer. Graphjet Technology has the world's first patent-pending technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite at far lower cost than traditional carbon-intensive approaches.
Additional information is available online at https://www.graphjettech.com/
About Energem Corp.
Energem Corp. is a blank check company formed for the purposes of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more energy and/or sustainable natural resource companies. In November 2021, Energem consummated a $115 million initial public offering of 11.5 million units (reflecting the underwriters' full exercise of their over-allotment option), each unit consists of one Class A ordinary share and one redeemable warrant, each warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. ARC Group Limited acted as sole financial advisor and EF Hutton, division of Benchmark Investments LLC, served as the sole book-running manager of Energem's initial public offering.
For further information:
Managing Partner, Head of Business Development
Phone: +41 78 768 18 10
Dr Matthias Rodenstein
Managing Partner / Senior Project Manager
Phone: +41 79 445 02 68