Home-grown Graphjet Tech obtains shareholders’ approval for US$1.38b NASDAQ listing

 GRAPHJET Technology Sdn Bhd, a frontrunner in green graphite production, has announced a pivotal moment in its corporate journey.

Following an approval obtained from Energem Corp’s shareholders for the business combination between both entities, Graphjet is set to enhance its global footprint by listing on NASDAQ while showcasing a minimum pro forma enterprise value of US$1.38 bil.


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

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

Recognised for its patented technology that converts palm kernel shells into valuable graphene and graphite, Graphjet 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 ESG principles.

“Today marks a monumental stride not only for Graphjet but for the entire green technology sector,” commented Graphjet co-founder and CEO Aiden Lee Ping Wei.


GRAPHJET TECHNOLOGY MANAGEMENT TEAM: (from left) co-founder CEO Lee Ping Wei; chief technology officer Liu Yu; executive director Jay Aw and chairman Lim Hooi Beng

“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.”


Added Lee: “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.”

Graphjet’s collaboration with the Massachusetts Institute of Technology (MIT) exemplifies this approach – the quest to combine Graphjet’s market-leading innovations with global academic excellence.


In essence, the group’s innovative process converts palm kernel shells – an abundant local by-product from the palm oil industry – into premium-grade graphene and graphite that are crucial for green battery technologies.


This process epitomises the company’s strategy of turning waste into valuable materials, hence contributing significantly to the green supply chain for battery anode materials.

Graphjet’s business model is deeply rooted in ESG (environment, social and governance) 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://focusmalaysia.my/home-grown-graphjet-tech-obtains-shareholders-approval-for-us1-38b-nasdaq-listing/

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