Malaysia-based graphite and single-layer graphene producer, Graphjet Technology (GTI), recently signed a Letter of Offer to build its RM400 million (over USD$90 million) production facility in the Phase 3 of Malaysia-China Kuantan Industrial Park.
Graphjet's patented technology aims to 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.
Graphjet Technology’s Founder and Chairman, Mr. 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.”