Graphex Technologies LLC Continues Its North American Build-out, Strengthening Team with Addition of Chief Financial Officer and Senior Vice President, Global Partnerships

ROYAL OAK, Mich., June 27, 2023 (GLOBE NEWSWIRE) -- Graphex Technologies, LLC, a wholly owned subsidiary of Graphex Group Limited (collectively "Graphex") (NYSE:GRFX, HKSE: 6128))), a global leader in mid-stream processing of natural graphite anode material for use in Lithium-ion (Li-ion) batteries, today announced the additions of Raphael Danon and Mark Klein as the Chief Financial Officer and Senior Vice President, respectively, of Graphex Technologies, LLC. The addition of these senior professionals should significantly enhance Graphex's continued move forward with its business objectives to establish end-to-end graphite processing and production capabilities in North America.

Danon joins the Company with 25 years of experience in a wide spectrum of roles in the corporate and business worlds. He brings a deep executive knowledge to Graphex, thanks to his time spent working on business-building, capital markets, emissions markets, operations design and financial reporting. He was a co-founder and Managing Director of Finance for Clearblue Markets, Chief Financial Officer of NWT Uranium Corp, Chief Financial Officer and Vice President of Asian Coast Development (Canada) Ltd, in addition to previously and currently serving as a member of the Board of Directors at several publicly traded companies.

"Graphite is a crucial component in EV batteries, comprising a higher percentage of the battery material than lithium, placing Graphex at the forefront of the global push for electrification and making their work incredibly important right now," said Danon. "I'm thrilled to join the Graphex team and cannot wait to bring my expertise to their operations."

Klein comes aboard Graphex with 25 years of experience working in various leadership positions at Fortune 100 companies, as well as the Founder and CEO of several startups. In his new role at Graphex, he will utilize his expertise in business development, marketing, branding, M&A, corporate development, and more, which stem from his previous management positions, including serving as the Director of Mobile Business Development at AOL Inc., Managing Director of The Lockwood Group, as well as Founder and CEO of Skins Inc. and KlearBar Inc.

"I'm elated to be joining the team at Graphex," said Klein. "North America is in dire need of improved graphite processing and production, and Graphex is leading the charge toward making that happen; it's exactly where I need to be right now."

Graphex has received offers of state and local incentives for its planned graphite processing plant in Warren, Michigan. As major car manufacturers continue to make investments in Michigan to expand electrification, a localized end-to-end battery mineral supply chain nearby will be invaluable to reduce potential logistical challenges. Transforming raw material to finished product, Graphex will provide ready battery anode material for original equipment manufacturers (OEMs) and gigafactories as they ramp up production and meet nearly 400,000 tons of projected yearly demand for graphite.

"We're moving fast right now and the addition of Raphael and Mark, coupled with the recently-announced move toward establishing standalone US operating entity [Graphex Explores US Spinoff of Graphex Technologies], Graphex is right at the center of the global energy transition, bringing domestic supply chain experience into North America. We need a strong leadership team in place to keep all areas of our business running at peak performance and Raphael and Mark are the perfect additions to make that happen," said John DeMaio, Chief Executive Officer of Graphex Technologies. "We're confident they'll hit the ground running as our expansion and diversification strategy continues to accelerate."

To learn more about Graphex Technologies, please visit www.graphexgroup.com.

​​About Graphex

Graphex is a multinational technology company focused on the development of technologies and products to enhance renewable energy, particularly the refining of natural spherical graphite, synthetic graphite, and graphene-related products - key components in EVs/Lithium-ion batteries as well as in other uses. Graphex has extensive commercial experience in the deep processing of graphite and producing battery grade graphite anode material. Current production is 10,000 tonnes per annum (tpa) with a current expansion underway to increase production to 30,000 tpa within the next 12 months. Graphex intends to further expand existing operations to 55,000 tpa over the next three years. Graphex is currently among the top suppliers of specialized graphite anode material to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection. Graphex's strategy is to expand its operations globally to support energy transition and electrification efforts worldwide.

Forward Looking Statements

All statements contained in this presentation other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are "forward looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the safe harbor in Section 27A and 21E of the Securities Act of 1933 and the Securities Exchange act of 1934, respectively. You can identify some of these forward looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely," "potential," "continue" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. We have based these forward looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs. These forward looking statements involve various risks and uncertainties. Information from third sources identified in this release is based on published reports for such information and we have assumed the accuracy of such reports without independent investigation or inquiry. This communication is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase any securities of Graphex Group Limited, including but not limited to its American Depositary Shares.

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