KUALA LUMPUR: Nasdaq-bound Graphjet Technology Sdn Bhd, the world’s leading graphite and single-layer graphene producer, recently signed a letter of offer to build its RM400 million production facility in Phase 3 of Malaysia-China Kuantan Industrial Park.
A signing ceremony between Graphjet Technology and the East Coast Economic Region Development Council (ECERDC) was held recently in the presence of ECERDC CEO Datuk Baidzawi Che Mat.
Graphjet Technology is the first and only company in the world to transform palm industry waste materials, palm kernels, into graphite and single-layer graphene. Graphene is known as the super material and was attributed to the Nobel Prize in Physics in 2010.
The revolutionary patented technology will transform palm kernel shell, a waste from palm kernel production, into single-layer graphene, at a significantly lower cost than the current production of single-layer graphene.
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 RM3.6 billion a year for Graphjet Technology.
Graphjet Technology’s founder and chairman, Lim Hooi Beng said, “Today’s signing heralds a substantial beginning of our first plant producing graphite and single-layer graphene. The new 20-acre plant integrated plant (upstream and downstream) is expected to be completed within 18 to 20 months after the IPO, and this project is expected to generate up to 700 jobs over the next four years.
“We have great growth ambitions for Graphjet 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 CEO Aiden Lee Ping Wei thanked the ECERDC for its active recommendations and support that helped contribute to today’s development.
“Our project 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 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,” Lee said.
“We are also optimistic that the development of the production plant in the East Coast Economic Region will create a greater economic effect on the local community,” he added.
Lee said, “Our technology to use industry waste as raw materials to produce graphite and single-layer graphene will be a game changer to accelerate the adoption of this wonder material of the 21st century. This will help 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.”
