Categories: Wire Stories

Graphex Technologies Update: Global Expansion Progress and Business Strategy Highlights

The international technology company executes on its plans to increase graphite production globally and to onshore mid-stream critical mineral supply chains, including its first production facility in North America

ROYAL OAK, Mich.–(BUSINESS WIRE)–Graphex Technologies LLC, a wholly owned U.S. subsidiary of Graphex Group Limited (NYSE American: GRFX | HKSE: 6128, collectively �Graphex”), a global leader in mid-stream processing of specialized natural graphite used for electric vehicle (EV) Lithium-ion (Li-ion) batteries, today provided an update that reflects on milestones achieved and objectives for the year.

As an international technology company, Graphex is currently among the top 10 suppliers of specialized spherical graphite to the EV and renewable energy industries with a global expansion strategy that is aligned with energy transition and electrification efforts worldwide. As the projected demand for EVs and other sustainable energy solutions continue to grow, there is a correlated increase in demand for the critical minerals necessary to manufacture the Li-ion batteries that power them. Equally as important, the tremendous momentum to localize end-to-end processing and production capabilities into North America and to source materials from more user-friendly regions is at the highest intensity in decades. Call it onshoring, nearshoring, or friendshoring…Graphex is uniquely positioned to meet the need.

Since becoming listed on NYSE American in August 2022, Graphex has continued executing actions to achieve its business objectives, including:

  • Grow our revenue base in Asia, the most advanced EV ecosystem in the world:
    • Development underway in Jixi, Mashan District to increase production from 10,000 to 55,000 tonnes per annum to meet growing demand:
      • Phase I: 20,000 MT Q3 2023
      • Phase II: 55,000 MT Q4 2024
      • Anticipated Revenues 2X – 5X
  • North American land & expand strategy progressing:
    • Warren, Michigan pitch coating facility
      • Construction waiver in place, Air Permit expected shortly
      • Siteworks completed, utilities upgraded, preliminary design completed
      • One of the first commercial scale battery anode material facilities in North America
      • 15,000 MT capacity, projected operations Q1 2024
      • 100+ new jobs to disadvantaged area
      • Grants and Incentives expected from City, County, State
    • Baie Comeau, Quebec (under consideration)
      • 100% renewable power available
      • Up to 1000+ new jobs to region
      • Up to 100 MT capacity, potentially operational 2026
      • International deep-sea shipping port
      • International rail network access
      • Local, regional, national incentives available
    • Other regions being considered:
      • Southwest, Southeast, Midwest, TVA area
  • Securing diverse upstream sources of raw materials to solve an industry problem:
    • Canada: Offtake/Joint venture collaboration agreement with Northern Graphite
    • Australia: Offtake/Joint venture collaboration agreement with Reforme Group
    • Brazil: Offtake/Joint venture collaboration agreement with SouthStar Battery Metals
    • Offtake/Joint venture collaboration agreement with Gratomic
    • US: Offtake/Joint venture collaboration agreement with SouthStar Battery Metals
    • Tanzania: Offtake agreement with Volt Resources
    • We continue to assess and negotiate additional offtakes and collaborations.
  • Negotiating supply agreements with OEMs:
    • Graphex has entered into at least one confidential non-binding MOU with OEM EV battery manufacturers to supply anode material to their future gigafactories, including one in the US, and to evaluate the construction of co-located processing facilities near the OEM’s gigafactories.
    • Graphex is in varied levels of technical review and commercial negotiations to supply anode material to many of the Tier 1 EV OEMs and their battery manufacturer counterparts in North America and Europe, including well known global leaders in their industries.
    • Graphex is also engaged in similar ongoing discussions with other OEMs and battery manufacturers in the EV and battery energy storage arenas.
  • Continuing our research into material science innovations and advanced battery chemistries
    • Various proprietary research endeavors in progress
  • Creating a Strategic Advisory Committee:
    • In order to advance the depth and breadth of our research efforts and to expand the reach and penetration of our business development campaigns, Graphex is assembling a group of experienced business leaders from inside and outside the industry to provide strategic advice and experienced perspective to the Board and Senior Leadership. We look forward to future announcements identifying the members of the Committee in the near future.

“By diversifying upstream and expanding downstream, Graphex is uniquely positioned to seize the opportunity presented by the electrification movement in both mobility and energy storage,” said John DeMaio, CEO of Graphex Technologies. “Our decade of experience producing quality anode material at scale coupled with our agility to bring production facilities online quickly solves several hard problems facing the industry today. We believe that our measured and intelligent approach balances speed with caution, boldness with experience, and strategic investment with lean operations to provide short-term and long-term solutions to the industry as well as attractive returns for us and our shareholders. The further addition of our Strategic Advisory Committee is another exciting milestone that is expected to significantly accelerate our growth strategy.”

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

??About Graphex

Graphex Group Limited is a Cayman Island company with principal and administrative offices in Hong Kong and subsidiary office in Royal Oak, MI. Graphex is a global leader in the industry focused on the development of technologies and products for the enhancement of renewable energy, particularly the enrichment of spherical graphite and graphene, key components for Electric Vehicle (EV) batteries, Lithium-ion batteries, and other use cases. Proficient in commercial deep processing of graphite, Graphex has been consistently producing over 10,000 metric tons of spherical graphite annually for over 9 years. With a strategy to expand its global operations to support energy transition and electrification efforts worldwide, Graphex Group is currently among the top suppliers of specialized spherical graphite to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection.

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 are 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.

Contacts

Corporate:

Graphex Group

info@graphexgroup.com
www.graphexgroup.com

Investor Relations:
RedChip Companies, Inc.

Todd McKnight

917 349-2175

todd@redchip.com

Public Relations:

FischTank PR

Graphex@fischtankpr.com

Alex

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