Malaysia Deputy Minister of Plantation and Commodities YB Datuk Chan Foong Hin Visits Graphjet Technology’s First-of-its-Kind Green Graphite Facility

Rhea-AI Summary

Graphjet Technology (Nasdaq:GTI), a developer of technologies to produce graphite and graphene from agricultural waste, hosted Malaysia's Deputy Minister of Plantation and Commodities, YB Datuk Chan Foong Hin, at its newly commissioned green graphite facility in Subang District, Malaysia. The facility converts palm kernel shells into battery-grade graphite for electric vehicle and semiconductor markets. During the visit, the Deputy Minister observed the process of converting palm biomass into carbon and graphite, emphasizing the untapped potential in the Agri-commodity sector. Graphjet's CEO Aiden Lee highlighted the company's role in creating a sustainable global graphite supply chain and its contribution to Malaysia's palm oil industry.

Positive

• Successful commissioning of green graphite facility in Malaysia
• Government support and recognition from Malaysian authorities
• Sustainable production process utilizing abundant local agricultural waste
• Strategic positioning in EV and semiconductor supply chains

Negative

• None.

Insights

Clean Tech Analyst

The visit from Malaysia's Deputy Minister to Graphjet's facility, while demonstrating government interest, represents a routine diplomatic engagement without immediate material impact on operations or financials. While the company's technology for converting palm biomass to graphite is innovative, this visit doesn't provide new information about production capacity, contracts, or revenue potential.

The facility's location in Malaysia's palm oil heartland provides strategic advantages for sourcing raw materials, but no specific metrics were shared about production volumes or operational efficiency. The government's verbal support, while positive for relationship building, doesn't translate into tangible business outcomes or regulatory benefits at this stage.

From an investment perspective, GTI's relatively small market cap of $89.5 million and early-stage status in the green technology sector suggests this diplomatic visit, while good for publicity, doesn't materially change the company's near-term prospects or valuation metrics.

KUALA LUMPUR, Malaysia, Dec. 26, 2024 (GLOBE NEWSWIRE) -- Graphjet Technology (“Graphjet” or “the Company”) (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, was pleased to host Malaysia’s Deputy Minister of Plantation and Commodities, YB Datuk Chan Foong Hin, at its recently commissioned green graphite facility located in the Subang District in Malaysia.

“The team at Graphjet demonstrated the intricate process of sustainably converting palm biomass into carbon and subsequently graphite,” said Malaysia’s Deputy Minister of Plantation and Commodities YB Datuk Chan Foong Hin. “The Agri-commodity sector holds robust prospects that is yet to be tapped, and I look forward to seeing more participants add value to the supply chain. At the ministry, we're consistently working to ensure that the ecosystem is conducive to facilitate innovation among players in the sector that will bring higher returns to the economy. I look forward to a continued engagement with Graphjet as the company continues implementing its expansion plans.”

“The Graphjet team was honored to host the Malaysia Deputy Minister of Plantation and Commodities at our green graphite facility in Malaysia, which underscores the role that we expect to play in enabling a more sustainable global graphite supply chain,” said Graphjet’s CEO and Co-Founder, Mr. Aiden Lee. “This visit demonstrates the Malaysian government’s commitment to supporting and promoting the development of green technologies and Graphjet’s value add to the country’s palm oil industry. We look forward to supporting local jobs in Malaysia and a continued dialogue and collaboration with the government of Malaysia, as we plan to deploy our technology around the world at scale.”

Graphjet’s green graphite facility sustainably and cost-effectively recycles palm kernel shells, a highly abundant agricultural waste byproduct in Malaysia, to produce battery-grade graphite for the electric vehicle and semiconductor markets, in addition to other industries. During a visit to the facility and a tour, the Malaysia Deputy Minister of Plantation and Commodities was accompanied by the Company’s Chief Operating Officer and Chief Scientific Officer, Mr. Liu Yu, and Executive Director, Jay Aw. The Graphjet team and the Malaysia Deputy Minister of Plantation and Commodities discussed the importance of the facility and how it is expected to play a key role in supporting a more sustainable transition to green energy.

About Graphjet Technology Sdn. Bhd.
Graphjet Technology Sdn. Bhd. (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world’s first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet’s sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.

Cautionary Statement Regarding Forward-Looking Statements
The information in this press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “aim,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet’s industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet’s ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the “Risk Factors” section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations.

Graphjet Technology Contacts

Investors
GraphjetIR@icrinc.com

Media
GraphjetPR@icrinc.com

FAQ

What is Graphjet Technology's (GTI) new facility in Malaysia producing?

Graphjet's facility in Subang District, Malaysia, produces battery-grade graphite from palm kernel shells for electric vehicle and semiconductor markets.

How does Graphjet Technology (GTI) produce graphite sustainably?

Graphjet converts palm kernel shells, an agricultural waste byproduct from Malaysia's palm oil industry, into carbon and subsequently into graphite through their patented technologies.

What markets will Graphjet Technology's (GTI) green graphite serve?

The green graphite produced will serve the electric vehicle and semiconductor markets, along with other industries.

What is the significance of the Malaysian Deputy Minister's visit to GTI's facility?

The visit demonstrates Malaysian government support for green technologies and recognizes Graphjet's contribution to the country's palm oil industry while supporting local job creation.