NASDAQ-BOUND Graphjet Technology Sdn Bhd, the world’s first and only graphite and single-layer graphene producer which utilises innovative waste to super-material conversion, has joined and partnered with the World Economic Forum (WEF).
The WEF is an international non-governmental and lobbying organisation based in Switzerland. Graphjet is the first Malaysian company to join WEF.
The WEF describes Graphjet as one of the “dynamic high-growth companies that are championing new business models, emerging technologies, and sustainable growth strategies in the Fourth Industrial Revolution (4IR).”
The collaboration marks another milestone for Graphjet which has successfully developed a revolutionary patented technology that transforms palm kernel shell – a waste from palm kernel production – into single-layer graphene at a significantly lower cost than the current production.
Graphjet is en route to be listed on the NASDAQ Exchange following its merger with SPAC Energem Corp. This transaction values GTI at a pro forma enterprise value of US$1.49 bil (RM6.55 bil). The listing is expected to happen in 1Q 2023.
“The WEF is the global thought leader on critical issues such as energy transition and carbon emission reduction,” commented Graphjet’s co-founder and CEO Aiden Lee Ping Wei.
“This aligns directly with Graphjet’s mission to provide sustainably sourced graphite and single-layer graphene critical to new energy innovation, cleaner energy raw material and net-zero contribution to global climate change.”
The collaboration, according to Lee, put Graphjet in a strategic position to open doors for strategic initiatives that will drive sustainable economic growth forward.
“We believe that sustainably sourced, low carbon graphite and graphene production at a price up to 80% less traditional sources can transform and accelerate innovation critical to the new energy economy,” he enthused.
“Malaysia is blessed with abundant agricultural waste due to its position as the world’s second-largest palm kernel oil producer.”
Lee added that the successful listing of Graphjet Technology on the NASDAQ would raise funds for the group to push forward its single-layer graphene’s mass production and penetrate into new markets.
The collaboration with WEF will ensure that these initiatives in the post-listing era will accelerate and gain momentum on the global market.
Since its founding in 1971, the WEF has sought to improve the state of the world by engaging business, political, academic, and other leaders to shape global, regional and industry agendas.
The WEF is widely known for its annual meeting in Davos which brings together major corporations and thought leaders to address the most pressing issues of global concern. – Dec 6, 2022