Graphjet Technology Achieves Technological Breakthroughs with Green Graphite Production

Achieved 99.99% graphite purity and 98.8% graphitization, two key milestones further validating the quality of Graphjet Technology's technology and its viability at scale

Technology delivers the highest purity and graphitization of all biomass graphite production processes

KUALA LUMPUR, Malaysia, Dec. 03, 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 that it has achieved key breakthroughs in catalyzing graphitization to produce high quality synthetic graphite with its patented green graphite production technology.

"Graphjet's artificial green graphite, produced from palm-based biomass residues, has been tested by an authoritative third-party agency, resulting in a purity level of 99.99% and a graphitization level of 98.8%, both of which exceed the standards of high-quality graphite," said Aiden Lee, CEO and Co-Founder of Graphjet. "These results verify that our patented technology is mature and reliable and that we are committed to providing industry-leading artificial graphite products to global customers, backed by proven metrics that they can trust. These significant innovations further validate our technology as we position ourselves as the world's leading supplier of green graphite."

Graphjet's green graphite technology is the first in the world to produce artificial graphite directly from palm kernel shells, a widely available waste product in Malaysia and Indonesia. Pilot-scale testing has demonstrated that Graphjet's artificial graphite can achieve purity levels of up to 99.99%, validating the Company's technology and its ability to effectively compete with all forms of graphite production, including mining and other synthetic graphite operations.

In addition to the high purity levels achieved, Graphjet's production technology boasts a 98.8% graphitization level. The production process of artificial graphite generally involves such steps as raw material mixing, molding, high temperature and high pressure graphitization, and graphite characteristics modifications. A high level of graphitization is key for the Company's green graphite technology, as high graphitization demonstrates that the composition of the graphite lattice is highly organized and of a uniform crystal structure which results in improved physical and chemical characteristics. Graphite of this quality is a remarkable material for industries and applications such as lithium ion batteries, thermal management, and graphite electrodes, among others.

"Throughout Graphjet's process, our core differentiator is our proprietary catalysts formula, which enables us to cost-effectively produce graphite of the highest quality," continued Aiden Lee. "Maintaining high temperature graphitization for extended periods requires high-quality equipment to control parameters such as temperature, pressure, time and graphitization gas. These factors are critical in determining the graphitization degree and properties of artificial graphite."

Graphjet has achieved the highest levels of both purity and graphitization among all biomass graphite production technologies, which further demonstrates its suitability for the production of semiconductors and anode materials for high-performance electric vehicle batteries. Notably, the Company's technological achievements have been validated by third-party labs in China.

Higher graphitization levels signify a higher percentage of graphite crystal formation within a graphite sample. The graphitization level will depend on key factors during graphitization process such as temperature, pressure, time and graphitization gas.

Artificial graphite with favorable heat conductivity properties, stability and chemical properties can be applied in the production of lithium-ion batteries, graphite electrodes, heat management and high-performance porcelain industries. With the continuous advancement of science and technology, the application fields of artificial graphite will be further expanded and demand will continue to increase. Graphjet's artificial graphite is a high-performance raw material, and its graphitization degree is an important factor affecting its properties and applications. Graphjet's high-performance artificial graphite will enable the market to foster breakthrough technologies and new applications, signifying a wider range of applications.

Graphjet recently commissioned the world's first and largest green graphite facility in Malaysia, with an annual production capacity of up to 3,000 metric tons of battery-grade graphite. This level of production is sufficient to support battery production for approximately 40,000 electric vehicles per year. Per kg of graphite produced, Graphjet's patented technology produces only 2.95 kg CO2 emissions, compared to 16.8 kg CO2 emissions and 17 kg CO2 emissions from natural and synthetic graphite production, respectively, in China. Graphjet's technology is expected to have the lowest carbon footprint of any graphite production process in the world.

About Graphjet Technology Sdn. Bhd.

Graphjet Technology Sdn. Bhd. (NASDAQ:GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world's first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet's sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit https://www.graphjettech.com/.

Cautionary Statement Regarding Forward-Looking Statements

The information in this press release contains certain "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "aim," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet's industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet's ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the "Risk Factors" section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations.

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