The transaction creates the only pure-play biomass-to-graphite direct trading company and positions Grafjet as the leading source of graphite and graphene in the U.S. market, the company said.
Grafjet has raised $5.8 million through the transaction and said it expects to need additional financing to accelerate its growth strategy and expand its manufacturing capacity.
“We are excited to list Grafjet on Nasdaq, especially at this critical time of critical materials demand and limited availability in the U.S. market,” CEO Aiden Lee said in a press release. Ta.
“China dominates over 97% of all graphite production, and we look forward to becoming a key supplier to the U.S. market supporting the rapidly growing battery and EV industry,” Li said. . “Our patented technology allows the production of graphite and graphene directly from agricultural waste, and as demand is expected to continue accelerating over the next few years, we are meeting critical supply needs for these highly strategic materials. will be fulfilled.”
Grafjet said its commercial and patented vertically integrated technology and processes can reduce carbon emissions by 83% and reduce costs by 80%.
By 2 p.m. EDT, GrafJet's stock price was up more than 5% on the Nasdaq market. The company's market capitalization is $56.6 million.
