Aiden Lee Ping Wei & Graphjet secures approval for Nasdaq listing

 GRAPHJET Technology Sdn Bhd has received shareholder approval for a Nasdaq listing, a pivotal moment for the green graphite producer. 

Following the endorsement from Energem Corp, a Nasdaq-listed special purpose acquisition company, Graphjet anticipates a transformative expansion in its global presence with a minimum pro forma enterprise value of US$1.38 billion (RM6.54 billion). 


This development, according to Graphjet, heralds a new chapter for the company and the broader green technology sector, reinforcing the company’s pioneering role in developing advanced green battery anode materials. 


A total of 80.16% voted were in favour of the approximately 85.08% of votes cast at the meeting on Feb 28, 2024. 


Following the closing, the combined company will operate as Graphjet Technology, its ordinary shares and warrants are expected to begin trading on the Nasdaq Global Select Market under the new ticker symbols “GTI” and “GTIWW”, respectively. 


Graphjet, a Malaysian-based company, recognised for its patented technology that converts palm kernel shells into valuable graphene and graphite, is not only pioneering sustainable material production but also shaping a green supply chain for battery anode materials globally. 


This unique approach not only showcases the company’s innovative prowess but also underscores its commitment to sustainability and environmental, social and governance (ESG) principles. 

“Today marks a monumental stride not only for Graphjet but for the entire green technology sector. Our Nasdaq listing is not merely a corporate milestone, it’s a catalyst for our mission to lead the green graphite revolution, emphasising our role in the global shift towards renewable energy solutions,” said Graphjet co-founder and CEO Aiden Lee Ping Wei. 


“Our vision extends beyond the current achievements. We are actively exploring partnerships with academic institutions and leading enterprises to push the boundaries of what’s possible in green technology,” Lee added. 


The company’s collaboration with MIT exemplifies this approach, combining Graphjet’s market-leading innovations with global academic excellence. 


Graphjet’s innovative process converts palm kernel shells, an abundant local byproduct, into premi- um-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 business model is deeply rooted in ESG principles, emphasising the company’s commitment to responsible business practices. 

“We believe in creating value that benefits not only our stakeholders but also the planet. Our processes and products are designed to minimise environmental impact and promote a circular economy,” Lee elaborated. 


Post listing, Graphjet aims to capitalise on the burgeoning graphene market, which is expected to see significant growth, according to a Mordor Intelligence study in 2023. 


Content source: https://themalaysianreserve.com/2024/03/08/graphjet-secures-approval-for-nasdaq-listing/

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