Company Overview and Operations Summary

Business Focus

• Graphjet Technologies is a manufacturer of high-quality graphene and graphite using proprietary, patented bio-mass conversion technology.
• The company's technology transforms renewable agricultural waste, specifically palm kernel shells, into artificial graphene and graphite.
• It claims to be the only producer capable of mass production of graphite and graphene from biomass sources.

Key Technologies and Patents

• Holds patents for:
  • Synthetic palm-based graphite (approved on September 22, 2022)
  • Synthetic palm-based graphene (approved on March 27, 2024)
• Owns all intellectual property rights related to its processes and technology.

Manufacturing and Raw Materials

• Utilizes palm kernel shells, a by-product of palm seed oil production, available at approximately 5 million tons annually in Malaysia.
• Plans to construct manufacturing facilities in Malaysia and Nevada, capable of producing:
  • 10,000 to 50,000 tons of graphite annually
  • 60 to 200 tons of graphene annually
• Has a supply agreement with Toyoda to produce and supply graphite and graphene worth $30 million annually.
• Currently in the testing phase at a production facility in Kampung Baru Subang, Selangor, Malaysia; production scheduled to commence by August 2025.
• No current sales revenue as it is still in development and sampling stage.

Market and Industry Position

• Aims to compete on cost and quality, offering products at significantly lower prices (about 80-90% less than current market prices of $200-$450 per gram).
• Targets multiple industries: energy storage, electronics, aerospace, automotive, biomedical, and advanced manufacturing.
• Seeks to displace high-cost competitors by using sustainable biomass, offering environmentally friendly and cost-effective graphite and graphene.

Customer and Market Position

• Has a non-binding letter of intent and a binding supply agreement with Toyoda for $30 million in annual sales, but has not yet generated revenue from product sales.
• Sampling products to multinational companies to gain market acceptance.
• Production and sales are contingent upon completion of manufacturing facilities and customer qualification, which typically takes 12 to 18 months.

Employees

• 18 employees across research & development, production, sales & marketing, administration departments.

Financial Condition (as of September 30, 2024)

• Net loss: approximately $17.8 million
• No revenue recorded yet
• Current liabilities exceeded current assets by approximately $19.9 million
• Cumulative losses from inception: $25.8 million
• Cash on hand: approximately $348,655
• Primary funding sources include equity investments, PIPE financing of ~$1.4 million, and some related-party debt.

Development Timeline

• Construction of main manufacturing plant in Malaysia ongoing.
• Planned capacity to produce battery-grade graphite supporting the production of over 100,000 EVs annually.
• Future plans include building a graphite production plant in Nevada capable of supporting substantial EV battery manufacturing.

Strategic and R&D Efforts

• Collaborates with UKM, UTEM, MIT, and other academic institutions for research.
• Focuses on developing high-purity, high-quality graphene and graphite for multiple high-growth industries.

This summary is based solely on the provided text and contains precise details of the company's operations, technology, current financial status, and future plans.