KUALA LUMPUR: Graphjet Technology Sdn Bhd (GTSB) has successfully listed on the NASDAQ stock exchange, marking a significant milestone in the company’s journey towards global leadership in the green graphite industry.
The listing on NASDAQ comes at a crucial time when the demand for graphite and graphene is surging, especially in the United States, where the battery storage and electric vehicle (EV) industries are rapidly expanding.
“With the majority of graphite production currently concentrated in China, GTSB is set to become a key supplier to the US market, offering a more sustainable and cost-effective alternative,” GTSB co-founder and chief executive officer Aiden Lee Ping Wei said in a statement.
GTSB has raised US$5.8 million through its NASDAQ listing and plans to use these funds to accelerate its growth strategy and expand its manufacturing capacity.
The company is actively exploring opportunities to deploy its technology at scale in North America and other regions in response to the global demand for graphite and graphene.
GTSB has revolutionised graphite production by developing patented technologies that convert agricultural waste into high-quality graphite and graphene.
This innovative approach addresses the critical supply needs for these strategic materials and significantly reduces the environmental impact associated with traditional graphite production.
GTSB’s process cuts the carbon footprint by up to 83 per cent and reduces costs by up to 80 per cent, positioning the company as a frontrunner in the global shift towards sustainable manufacturing practices.
GTSB’s new production facility, scheduled to commence operations in the second quarter (Q2) 2024, is expected to bolster further the company’s capacity to meet the growing demand.
The company’s commitment to sustainability extends beyond its production processes.
GTSB’s products are poised to play a vital role in various sectors, including energy storage, lubricants, and conductive materials, contributing to developing a more circular economy.
“Our goal is to leverage our sustainably produced graphite and graphene to drive innovation across multiple industries, ultimately creating a greener and more sustainable future,” Aiden Lee added.
GTSB, as a publicly traded company, remains dedicated to delivering shareholder value through its groundbreaking technologies and sustainable business practices.
The company’s NASDAQ listing enhances its global visibility and provides a strong platform for future growth and innovation.
