Graphjet Technology (“Graphjet” or “the Company”), 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.
Graphjet Technology Graphene. Image Credit: Graphjet Technology
The plant is expected to be capable of recycling up to 30,000 metric tons of palm kernel material equivalent – a widely abundant agricultural waste product in Malaysia – to produce up to 10,000 metric tons of battery-grade, artificial graphite per year. 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.
In addition to producing graphite, Graphjet’s first commercial plant in Malaysia, which is on track to be commissioned in the second quarter of 2024, will process palm kernel shells into hard carbon, which will be shipped to Nevada. 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.
“As the only pure-play direct agriculture waste-to-graphite technology developer, Graphjet is well positioned to become the leading source of graphite for the U.S. and we are excited to have Nevada serve as our launching pad into this market,” said Aiden Lee, CEO and Co-Founder of Graphjet. “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. We look forward to investing into the region and creating many local green energy jobs as we build a first-of-its-kind, next-generation graphite production facility in the U.S.”
Nevada is a strategic location for Graphjet as it is located in close proximity to a large quantity of battery manufacturers and automotive OEMs, which will require a significant amount of graphite for future EV battery production. Graphjet’s Nevada manufacturing facility is expected to create more than 500 high skilled labor positions. Furthermore, Graphjet expects to invest between $150 million and $200 million into the facility and is currently evaluating financing and strategic options to fund the plant.
Mr. Lee continued, “As leading automotive OEMs and battery manufacturers seek cost-effective and more environmentally friendly sourced production, Graphjet is able to provide a sustainable and cost effective solution that can support their graphite needs and address the accelerating demand for this strategic material. For perspective, Graphjet’s technology produces only 2.95 C02 emissions per KG of graphite, compared to 17 C02 emissions per KG with synthetic graphite in China and even 9.2. C02 emissions per KG with natural graphite in Canada.”