NASDAQ-listed Graphjet Technology, a Malaysia-based company that has patented the technology to convert palm kernel shells into graphite and graphene, has unveiled two remarkable milestones in its journey as a global leader in green technology.
On Dec 24, the group was ranked second on the Nasdaq for half-day trading volume with an extraordinary 265.48 million shares traded at an average share price of 60 US cents, thus achieving in a total trading value of US$159.28 mil.
Just three days later on Dec 27, Graphjet shattered its previous record with trading volumes surpassing 398.95 million shares with its share price having peaked at US$1.25 before closing at US$ 1.01.
This remarkable trading activity resulted in its total trading value having exceeded US$400 mil calculated at an average share price of US$1.
On both occasions, Graphjet which began trading on the Nasdaq Global Market on March 15, 2024 recorded a higher trading volume than global tech heavyweights such as Tesla, Meta, NVIDIA, Microsoft and Apple.
Additionally, Dec 24, saw Graphjet outperformed the combined trading volume and value of the top 30 FBM KLCI component stocks which recorded 121.06 million shares traded with a total trading value of RM555.15 mil.
Similarly, Graphjet’s traded volume on Dec 27 outpaced the combined volume of the top 10 counters on Bursa Malaysia which collectively totalled 438 million shares with a traded value of approximately RM100 mil.
“These milestones underscore the growing global recognition of Graphjet’s innovative solutions and our leadership in green technology,” observed Graphjet’s CEO and co-founder Aiden Lee.
Outperformance
“Outperforming global giants and regional peers demonstrates the market’s confidence in our ability to transform the graphite and graphene industries. These achievements also highlight Malaysia’s potential to lead in advanced materials and sustainable technologies.”
In simple language Graphjet’s patented technology converts palm kernel shells which is an abundant agricultural waste product in Malaysia into battery-grade graphite and graphene.
This sustainable production process reduces carbon emissions by up to 83% and costs by 80% compared to traditional methods.
With applications in electric vehicles (EVs), semiconductors and advanced technologies, Graphjet’s innovative solutions are driving the global clean energy transition.
The group currently operates the world’s first commercial-scale agricultural waste-to-graphite facility in Subang with an annual production capacity of 3,000 metric tonnes of battery-grade graphite or enough to support some 40,000 units of elective vehicles (EVs) per year.
This facility reflects Graphjet’s commitment to sustainability, innovation and economic growth. Looking ahead, the group plans to expand its operations with a green graphite facility in Nevada, US, hence solidifying its position as a global leader in advanced materials. – Jan 2,2024
