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Graphex Group Limited (GRFX) is a multinational technology company specializing in the development and sale of graphene and graphite products. The company operates across three core segments: the Graphene Products Segment, which includes the processing and sale of graphite and graphene-related products; the Landscape Architecture Design Segment, which provides landscape architecture design services; and the Catering Segment, which manages the operation of various restaurants.
Graphex derives the majority of its revenue from the Graphene Products Segment, making it a leading player in the industry of advanced materials essential for renewable energy solutions. The company's products are key components in electric vehicle (EV) batteries and lithium-ion batteries, with current production capacity at 10,000 tonnes per annum (tpa). Graphex is undergoing expansion plans to increase this capacity to 30,000 tpa within the next year and aims to further grow to 55,000 tpa over the next three years.
Recently, Graphex has taken significant steps to accelerate its growth strategy, particularly in North America. The company plans to domesticate the North American graphite supply via a standalone U.S. company. Furthermore, it has welcomed new executive team members, Raphael Danon as CFO and Mark Klein as SVP, both of whom bring extensive experience in business and finance to support Graphex’s expansion and diversification efforts.
Graphex has received offers of state and local incentives for its planned graphite processing plant in Warren, Michigan, underscoring the importance of a localized supply chain for major car manufacturers in the region. This plant will play a critical role in providing ready battery anode material for original equipment manufacturers (OEMs) and gigafactories, meeting the projected yearly demand for graphite.
In addition to its production capabilities, Graphex holds several patents in product development, production methods, machinery design, and environmental protection. The company's strategic focus is on expanding its global operations to support the worldwide energy transition and electrification initiatives.
Graphex is not just a supplier but a pivotal contributor to the renewable energy sector, particularly in the era of increasing EV adoption. For more information about Graphex, visit their official website at www.graphexgroup.com.
Graphex Group (NYSE: GRFX) announces plans for Phase 2 of its graphite processing project in Nanshu Town, Qingdao, China. The project includes manufacturing facilities for 20,000 tonnes of natural graphite anode material and 100 tonnes of graphene oxide for battery systems. The expansion requires approximately 5.33 hectares of land and 50,000 sq. meters of construction, with an estimated investment of $30 million. Land auction is expected within 6 months after approvals, with construction starting 4-6 months after successful acquisition.
The company also reports delays in Phase 1 due to insufficient power supply, despite obtaining energy permits in August 2024. They are working with local authorities to resolve this issue by end of 2024.
Graphex Group (NYSE American: GRFX) has received an extension from NYSE American to regain compliance with listing requirements until May 15, 2025. The extension was granted after the company failed to timely file its Form 20-F for the year ended December 31, 2023. The initial cure period expired on November 15, 2024. The company's ADSs will continue trading on the Exchange during this additional period, subject to compliance with other listing requirements and NYSE Regulation Staff's review. Graphex plans to file the delayed Form 20-F within the new cure period.
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