UPDATE – Graphex Group Announces Formation of U.S. Subsidiary; Names John DeMaio CEO
Graphex Group Limited (OTCQX:GRFXY) has announced the formation of its U.S. subsidiary, Graphex Technologies LLC, and appointed John DeMaio as CEO. The U.S. plant, set to be established in 2022, aims to produce 20,000 to 50,000 tons of graphite annually to meet rising demand for lithium-ion batteries in the EV industry. With 23 patents, Graphex focuses on graphite and graphene for EV and renewable energy applications, intending to expand its market presence and establish supply chains in North America and Europe.
- Formation of U.S. subsidiary, Graphex Technologies LLC.
- Appointment of experienced CEO John DeMaio to lead expansion.
- Plans to produce 20,000 to 50,000 tons of graphite annually by establishing a U.S. manufacturing plant.
- Possession of 23 patents in key technology areas.
- Strategic focus on high-demand markets for lithium-ion batteries in EV and renewable energy sectors.
- None.
The U.S. subsidiary of world leader in graphene manufacturing for EV battery application will bring technology, jobs, and dependable supply chains to rapidly growing U.S. and European markets
ROYAL OAK, Mich., Dec. 20, 2021 (GLOBE NEWSWIRE) -- Graphex Group Limited (HKSE:6128)(OTCQX:GRFXY), a world leader in graphene technologies and products used in electric vehicle (EV) battery and energy storage production, is pleased to announce the formation of its U.S. subsidiary, Graphex Technologies LLC (Graphex), and the appointment of its new CEO.
Graphex Group is one of the largest manufacturers of spherical graphite, a key material for production of lithium-ion battery cells used to form layers of graphene in the anode of lithium-ion battery cells. It currently leverages its high-volume manufacturing process and product technology, protected by 23 patents, for EVs manufactured and sold in Asia. Graphex Group’s manufacturing facility for spherical graphite is strategically located in Heilongjiang Province, an area rich in high-quality natural graphite reserves. Lithium-ion batteries are one of the most sought-after global technology components, as they are integral for electric vehicle and energy storage solutions needed to spur the clean energy transformation. They are also used in many other applications, including personal electronics such as mobile phones, laptops, and many other household items.
Following its U.S. market entry and the establishment of a manufacturing plant in 2022, Graphex intends to capitalize on the global demand for EV and stored energy lithium-ion batteries, especially in the U.S. and European markets. As both a technology and manufacturing company, it will also continue to identify and develop future graphene applications. The Company intends to build a manufacturing plant in the U.S. capable of producing 20,000 to 50,000 tons of coated natural graphite anode material annually.
John DeMaio has been appointed to the positions of CEO of Graphex Technologies and President, Graphene Division of Graphex Group Limited, the former of which represents the U.S. entity. In his new role, DeMaio will lead development and launch of key North American and European strategic alliances to support the strong increase in demand for advanced technology in the EV and renewable energy industries. DeMaio will advance opportunities to establish supply chains in the U.S. and Europe to bring technology, employment opportunities, and dependable supply to these high-growth markets.
“While we continue to grow our graphene business in Asia, home to one of the fastest-growing EV industries, the need for technologies that support EV and renewable energy is increasing around the world,” said Chan Yick Yan Andross, Chief Executive Officer and Director, Graphex Group Limited. “This is an opportune time to expand our international reach. We are excited to bring John onto our team to provide guidance to the parent organization and to lead Graphex Technologies LLC as we establish international supply chains and explore global partnerships, strategic alliances, scientific collaboration, and the potential to vertically integrate complementary businesses.”
DeMaio has held leadership positions including President and CEO of JouleSmart Solutions; General Manager of Siemens Smart Infrastructure; VP of MWH Global; COO of Thompson Solar Technologies; and Division Manager of SPG Solar. These roles range from successful startups to divisional and regional turnarounds at Fortune 50 companies. With over 20 years of experience in the energy and infrastructure sectors, DeMaio has developed and commercialized several new emerging market technologies, including first-in-kind photovoltaics, advanced waste-to-energy solutions, and Artificial Intelligence of Things platforms.
“It is an honor to join this progressive organization and lead this team of wildly intelligent professionals who understand exactly what business we’re in and are committed to being the best at what we do,” said John DeMaio, CEO of Graphex Technologies LLC. “As an advanced technology company providing R&D and product innovations in EV battery tech and alternative energy production, storage, and delivery, Graphex is uniquely positioned for strong growth into markets outside of Asia. Our ability to deliver superior graphite and graphene-related products and technology today – while continuously innovating and expanding our offerings in advance of the evolving needs of tomorrow – will cement Graphex Group as a foundational force in the global energy transition.”
About Graphex Group Limited
Graphex Group Limited is focused on the development of technologies and products for the enhancement of renewable energy, particularly the enrichment of spherical graphite and graphene, key components for EV batteries, lithium-ion batteries, and other uses. Strategically located near the largest supply source of high-quality natural flake graphite in the world, Graphex Group is currently among the top suppliers of specialized spherical graphite to the EV and renewable energy industries. It plans to further secure and expand the upstream supply chain and increase delivery volume by 400 percent over the next three years to support the unprecedented proliferation of battery demand. Graphex holds 23 patents in areas including products, production methods, machinery design, and environmental protection.
Safe Harbor Statement
This press release is being made pursuant to, and in accordance with, Rule 135 under the Securities Act of 1933, as amended (the 'Securities Act'), and shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby.
The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management, as well as assumptions made by any information currently available to the Company or its management. When used in this document, the words 'anticipate,' 'estimate,' 'expect,' 'intend,' 'plans,' 'projects,' and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties.
Information from third sources identified in this release are based on published reports for such information and we have assumed the accuracy of such reports without independent investigation or inquiry.
This communication is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase any securities of the Company, including but not limited to its American Depositary Shares.
Information made available on the Company's above-referenced website is not a part of any disclosure made or to be made by the Company with respect to any offer to sell or solicitation of an offer to purchase any securities of the Company and are not party of any filings by the Company with the U.S. Securities and Exchange Commission.
Contact Information:
investrel@graphexgroup.com
Media inquiries
FischTank PR
graphex@fischtankpr.com
FAQ
What is Graphex Group's new U.S. subsidiary?
Who was appointed CEO of Graphex Technologies LLC?
What are Graphex's plans for battery production?
How many patents does Graphex hold?
In which markets is Graphex expanding?
