Graphjet Technoloy’s graphite is now up to standards, now finalizing collaborations, supply agreements and offtake agreements
Graphjet Technology Sdn. Bhd. [Nasdaq: GTI] reported that it is now able to produce graphite that is up to the standard and the graphite produced can be used as battery anode material. With this, the company will now move ahead to finalize collaborations, supply agreements and offtake agreements with its customers in the coming weeks.
Whilst the upcoming share consolidation might reduce the number of shares trading in the market, the company has initiated steps to increase the number of shares in the market, with the issuance and registration of additional shares to the market, subject to registration with the SEC.
The company has also engaged a prominent investment bank to plan and assist in the distribution of additional shares to the market as a step to improve the liquidity post-share consolidation.
“The company has been moving at a quick pace to commercialize the company’s products in order to move from a developmental company to a full-fledged producer of graphite, capitalizing in the current demand for graphite. We have been in talks with a few multinational firms to secure their agreement to collaborate and supply graphite to these firms.
“In addition, the company has been making plans to ensure that the share consolidation that is upcoming early next week will not affect the liquidity of the company in the longer run and we have engaged professionals to advise and assist us in this matter,” said Chris Lai, CEO of Graphjet.
Graphjet Technology Sdn. Bhd. 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.
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