Graphjet Technology to Construct Innovative Agricultural Waste-to-Graphite Facility in Nevada

Graphjet Technology, renowned for its groundbreaking patented technologies enabling the direct conversion of agricultural waste into graphite and graphene, has disclosed plans to establish a commercial artificial graphite production facility in Nevada. This forthcoming plant is slated to be a pioneering endeavor in the United States, marking a significant stride in sustainable industrial practices.

Forecasts project the plant's capacity to recycle approximately 30,000 metric tons of palm kernel material equivalent—an abundant agricultural byproduct in Malaysia—annually, yielding up to 10,000 metric tons of battery-grade artificial graphite. Such production levels are anticipated to support the manufacture of batteries capable of powering over 100,000 electric vehicles (EVs) annually. Additionally, in a strategic maneuver to streamline its production process, Graphjet intends to utilize palm kernel shells processed into hard carbon at its inaugural commercial plant in Malaysia, slated for commissioning in the second quarter of 2024, as a precursor material to be shipped to Nevada. This circumvents an intermediary conversion step, thereby expediting graphite production at the Nevada facility.

Graphjet sets its sights on commissioning and initiating production at the new facility by 2026. Aiden Lee, CEO and Co-Founder of Graphjet, asserts the company's unique position as the sole pure-play developer of direct agricultural waste-to-graphite technology, positioning it as a frontrunner in supplying graphite to the U.S. market. Lee expresses enthusiasm for Nevada's role as a pivotal launchpad into this market, emphasizing the company's commitment to expedited commercial production and ongoing negotiations with various stakeholders to secure offtake agreements for the planned Nevada facility. Lee envisions substantial investment in the region, fostering the creation of numerous local green energy jobs as Graphjet establishes a state-of-the-art graphite production facility—a first of its kind in the U.S.

Nevada emerges as a strategic hub for Graphjet, given its proximity to a burgeoning network of battery manufacturers and automotive original equipment manufacturers (OEMs) with burgeoning graphite demands for future EV battery production. Graphjet's Nevada facility is anticipated to generate over 500 high-skilled labor positions, further bolstering economic vitality in the region. With an estimated investment ranging between $150 million and $200 million, Graphjet is actively exploring financing and strategic avenues to fund the facility's development.

Lee underscores Graphjet's pivotal role in meeting the evolving demands of leading automotive OEMs and battery manufacturers, offering a sustainable and cost-effective solution to address the escalating demand for graphite—a crucial component in EV battery production. Notably, Graphjet's technology boasts a significantly reduced carbon footprint, emitting only 2.95 CO2 emissions per kilogram of graphite, compared to 17 CO2 emissions per kilogram for synthetic graphite in China and 9.2 CO2 emissions per kilogram for natural graphite in Canada. This underscores Graphjet's commitment to sustainability and environmental stewardship in tandem with technological innovation and industrial progress.