Graphjet Technology Accelerates Production Timeline at State-of-the-Art Manufacturing Plant in Malaysia

Graphjet Technology expects to commission new facility by the end of Q2 2024, with revenues and production expected in 2024

Facility expected to transform 9,000 tonnes of agriculture waste annually to up to 3,000 tonnes of graphite per year

To meet growing demand for graphite following China’s decision to restrict graphite exports, Graphjet is poised to become a leading supplier of this strategic material

Kuala Lumpur, Malaysia, March 04, 2024 (GLOBE NEWSWIRE) -- Graphjet Technology (“Graphjet” or “the Company”), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, today announced it has accelerated the timeline for its planned manufacturing plant in Malaysia.

Graphjet is advancing construction of its first manufacturing plant in the Kuantan district of Pahang State in Malaysia, which is expected to be commissioned by the second quarter of 2024. The completion of the facility will enable the Company to begin producing graphite to supply its customer Toyoda and generate revenues in 2024.

The facility is expected to recycle up to 9,000 tonnes of palm kernels, which is agricultural waste, to produce up to 3,000 tonnes of graphite per year. Over time, the Company expects to scale the facility to 13,000 tonnes of annual graphite production by second half of 2026. Graphjet’s green technology uses an environmentally friendly methods in a completely circular solution using waste and its processes eliminate emissions and pollutions.

“We are excited to accelerate our plans for our manufacturing capabilities and production at our plant in the Kuantan district of Pahang State to address the growing demand for graphite and graphene outside of China,” said Aiden Lee, Graphjet’s CEO. “There is incredible whitespace opportunity for the use of palm oil waste in Malaysia to be leveraged to produce graphite and graphene, which Graphjet is capitalizing on. This expedited construction and commissioning timeline for our facility will enable us to support our customer Toyoda and generate revenues in the near term. We look forward to establishing ourselves as a leading supplier of graphite as our current and prospective customers seek alternatives to navigate China’s restrictions.”