Graphjet Technology founder and chairman Lim Hooi Beng said the new 20-acre integrated plant (upstream and downstream) is expected to be completed within 18 to 20 months after the company’s initial public offering.
PETALING JAYA: Nasdaq-bound Graphjet Technology Sdn Bhd has signed a letter of offer (LO) to build a RM400mil production facility in Phase 3 of the Malaysia-China Kuantan Industrial Park.
In a statement yesterday, the graphite and single-layer graphene producer said the production plant is expected to produce 10,000 tonnes of graphite and 60 tonnes of single-layer graphene annually.
“It is expected to generate a revenue of RM3.6bil per year for Graphjet Technology,” the company said.
In the same statement, Graphjet Technology founder and chairman Lim Hooi Beng said the new 20-acre integrated plant (upstream and downstream) is expected to be completed within 18 to 20 months after the company’s initial public offering (IPO).
He added that the plant is expected to generate up to 700 jobs over the next four years.
“We have great growth ambitions for Graphjet Technology and will not only stop with one plant.
“We expect the first products to come online in the first quarter of 2025 and serve customers across Asia, Europe, and the United States in automotive and renewable energy businesses.” Graphjet Technology’s chief executive officer Aiden Lee Ping Wei said the plant will lead and drive innovation and investment in the downstream new energy industry. “This will play a vital role in advancing the development of new technology, future materials and the energy industry in Malaysia.
“We believe that the impact of our investment will have a far-reaching and positive spill-over effect in the country,” he said.
Lee added that the development of the production plant in the East Coast Economic Region will create a greater economic effect on the local community.
Graphjet Technology is the first and only company in the world to transform palm industry waste materials and palm kernels into graphite and single-layer graphene.
Graphene is considered a revolutionary patented technology that can transform palm kernel shells, a waste from palm kernel production, into single-layer graphene at a significantly lower cost than the current production of single-layer graphene.
According to the White Paper for Global Graphite and Graphene Markets by Frost & Sullivan that was released in November 2022, graphene is seen as the wonder material of the 21st century due to its extraordinary properties, as well as the wide applications in various downstream areas such as energy, electronics and bioengineering.
“However, extremely high cost and potential pollution during the production process are the major restraints of graphene’s large-scale commercialisation, thus finding a cost effective and sustainable way to produce synthetic graphite and graphene has become more urgent,” said Frost & Sullivan.
Meanwhile, Lee said the technology being used by the company will be a game changer.
“This will help us achieve a green, recyclable, low-carbon environmental production plant. The revolutionary patented technology will help us to achieve low-cost, high-quality automated mass production of graphene and artificial graphite.
“We believe that the setup of the production plant based on our patented technology will increase the added value of Malaysia’s palm oil industry by-products and generate a greater economic effect to the local community and the country.”
