Graphjet Technology to Build New Agricultural Waste-to-Graphite Production Facility in Nevada
KUALA LUMPUR, Malaysia, April 08, 2024 (GLOBE NEWSWIRE) -- Graphjet Technology (“Graphjet” or “the Company”) (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, today announced it plans to build a commercial artificial graphite production facility in Nevada. This plant is expected to be a first-of-its-kind in the United States.
- This level of production is expected to be able to support the production of enough batteries to power more 100,000 electric vehicles (EVs) per year.
- This eliminates a conversion step in Graphjet’s production process, which would enable its Nevada facility to produce graphite more quickly.
- Graphjet is aiming to commission and begin production at the new facility in 2026.
- “We are laser focused on getting our commercial production online as quickly as possible and are in discussions with several players to secure offtake agreements for our planned Nevada facility.