Updates on Graphex China Expansion Plan
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: GRFX) annuncia progetti per la Fase 2 del suo progetto di lavorazione della grafite a Nanshu Town, Qingdao, Cina. Il progetto include strutture di produzione per 20.000 tonnellate di materiale anodo in grafite naturale e 100 tonnellate di ossido di grafene per sistemi di batterie. L'espansione richiede circa 5,33 ettari di terreno e 50.000 metri quadrati di costruzione, con un investimento stimato di 30 milioni di dollari. L'asta per il terreno è prevista entro 6 mesi dopo le approvazioni, con l'inizio della costruzione 4-6 mesi dopo l'acquisizione riuscita.
L'azienda riporta anche ritardi nella Fase 1 a causa di una fornitura di energia insufficiente, nonostante abbia ottenuto i permessi energetici nell'agosto 2024. Stanno collaborando con le autorità locali per risolvere questo problema entro la fine del 2024.
Graphex Group (NYSE: GRFX) anuncia planes para la Fase 2 de su proyecto de procesamiento de grafito en Nanshu Town, Qingdao, China. El proyecto incluye instalaciones de fabricación para 20,000 toneladas de material de ánodo de grafito natural y 100 toneladas de óxido de grafeno para sistemas de baterías. La expansión requiere aproximadamente 5.33 hectáreas de terreno y 50,000 metros cuadrados de construcción, con una inversión estimada de 30 millones de dólares. Se espera una subasta de tierras dentro de 6 meses tras las aprobaciones, con la construcción comenzando de 4 a 6 meses después de la adquisición exitosa.
La empresa también informa sobre retrasos en la Fase 1 debido a un suministro de energía insuficiente, a pesar de haber obtenido permisos de energía en agosto de 2024. Están trabajando con las autoridades locales para resolver este problema para finales de 2024.
Graphex Group (NYSE: GRFX)는 중국 칭다오 난슈 타운의 그래파이트 가공 프로젝트 2단계 계획을 발표했습니다. 이 프로젝트에는 20,000톤의 천연 그래파이트 음극 재료와 100톤의 배터리 시스템용 산화 그래핀 제조 시설이 포함됩니다. 확장을 위해 약 5.33헥타르의 토지와 50,000 제곱미터의 건축이 필요하며, 예상 투자액은 3천만 달러입니다. 토지 경매는 승인이 난 후 6개월 이내에 예정되어 있으며, 성공적으로 인수된 후 4-6개월 후에 건축이 시작됩니다.
회사는 또한 2024년 8월에 에너지 허가를 취득했음에도 불구하고 에너지 공급 부족으로 인해 1단계에서 지연이 발생했다고 보고하고 있습니다. 그들은 2024년 말까지 이 문제를 해결하기 위해 지역 당국과 협력하고 있습니다.
Graphex Group (NYSE: GRFX) annonce des projets pour la Phase 2 de son projet de traitement du graphite à Nanshu Town, Qingdao, Chine. Le projet comprend des installations de fabrication pour 20 000 tonnes de matériau d'anode en graphite naturel et 100 tonnes d'oxyde de graphène pour des systèmes de batteries. L'expansion nécessite environ 5,33 hectares de terrain et 50 000 mètres carrés de construction, avec un investissement estimé à 30 millions de dollars. La vente aux enchères des terrains est prévue dans les 6 mois suivant les approbations, avec le début de la construction 4 à 6 mois après l'acquisition réussie.
L'entreprise signale également des retards dans la Phase 1 en raison d'une alimentation électrique insuffisante, malgré l'obtention des permis d'énergie en août 2024. Ils travaillent avec les autorités locales pour résoudre ce problème d'ici la fin de 2024.
Graphex Group (NYSE: GRFX) kündigt Pläne für Phase 2 seines Graphitverarbeitungsprojekts in Nanshu Town, Qingdao, China, an. Das Projekt umfasst Produktionsanlagen für 20.000 Tonnen natürlichen Graphit-Anoden-Material und 100 Tonnen Graphenoxid für Batteriesysteme. Die Erweiterung erfordert etwa 5,33 Hektar Land und 50.000 Quadratmeter Baufläche, mit einer geschätzten Investition von 30 Millionen Dollar. Die Auktion des Landes wird innerhalb von 6 Monaten nach den Genehmigungen erwartet, wobei der Bau 4-6 Monate nach erfolgreicher Akquisition beginnt.
Das Unternehmen berichtet auch über Verzögerungen in Phase 1 aufgrund unzureichender Stromversorgung, obwohl im August 2024 Energieerlaubnisse erteilt wurden. Sie arbeiten mit den lokalen Behörden zusammen, um dieses Problem bis Ende 2024 zu lösen.
- Planned expansion with Phase 2 project adding 20,000 tonnes of graphite anode material capacity
- Permission to build own renewable energy plant for factory use
- Obtained energy permit for Phase 1 in August 2024
- Phase 1 project implementation delayed due to insufficient power supply
- Environmental permit still pending for Phase 1
- Additional $30 million investment required for Phase 2
Insights
The planned
Hong Kong, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Graphex Group Limited (“Graphex Group” or the “Company”) (NYSE American: GRFX | HKSE: 6128)) wishes to inform the shareholders and potential investors that the Company and Nanshu Town Government have intention of jointly working in the construction of the Phase 2 of graphite deep processing project (“Phase 2 Project”) located in the graphite industry cluster area of Nanshu Town, Laixi City, Qingdao, Shandong, PRC (“Location”). The Phase 2 Project will implement manufacturing facilities that produce 20,000 tonnes of natural graphite anode material used in lithium-ion batteries and 100 tonnes of graphene oxide used as additives in battery systems to enhance conductivities. Phase 2 Project involves an acquisition of a piece of land of around 80 mu (approximately 5.33 hectare) in the Location and the construction of not less than 50,000 sq. meter (approximately 540,000 sq. ft.). Nanshu Town Government has principally agreed that the Company may build its own renewable energy plant for its factory use. The total investment of the Phase 2 Project is estimated to be around US
Updates on Phase 1 of the Project (“Phase 1 Project”)
Reference is made to the press releases regarding the Phase 1 Project made by the Company previously. The Company experienced several challenges on Phase 1 Project. The Company obtained the energy permit for Phase 1 Project in August 2024 and is pending for the approval of the environmental permit. However, the Company was informed by the local power supply authorities that the current power supply was not sufficient for the factory use of Phase 1 Project. The Company has consulted a local power engineering company regarding this issue and is negotiating with the landlord and Nanshu Town Government about possible remedies. In light of this situation, Phase 1 Project implementation will be delayed. The Company intends to resolve this situation by the end of 2024. Phase 1 Project was designed to implement manufacturing facilities of 20,000 tonnes of natural graphite anode material for lithium-ion batteries.
To learn more about Graphex Group, please visit www.graphexgroup.com.
About Graphex
Graphex is a multinational technology company focused on the development of technologies and products to enhance renewable energy, particularly the refining of natural spherical graphite, synthetic graphite, and graphene-related products - key components in EVs/Lithium-ion batteries as well as in other uses. Graphex has extensive commercial experience in the deep processing of graphite and producing battery grade graphite anode material. Current production is 10,000 tonnes per annum (tpa) with a current expansion underway to increase production to 50,000 tpa within the next 18 months, to 100,000 tpa over the next 36 months, and to 150,000 tpa or more by 2030.
Graphex is currently among the top suppliers of specialized graphite anode material to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection. Graphex’s strategy is to expand its operations globally to support energy transition and electrification efforts worldwide.
Forward Looking Statements
All statements contained in this release other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the safe harbor in Section 27A and 21E of the Securities Act of 1933 and the Securities Exchange act of 1934, respectively. You can identify some of these forward looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely,” “potential,” “continue” or other similar expressions. We have based these forward looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs. These forward looking statements involve various risks and uncertainties and there can be no assurance that the forward looking statements will be achieved. The information in this release is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase any securities of Graphex Group Limited, including but not limited to its American Depositary Shares.
Contacts
Corporate:
Graphex Group
info@graphexgroup.com
www.graphexgroup.com
FAQ
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