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Graphex Group highlights the progress of US expansion

Graphex Technologies has provided the latest information reflecting the milestones achieved in 2022 and its goals for the rest of the year. Graphex Technologies' expansion of business in the US, more specifically in Warren, Michigan, at the heart of the automotive industry — is a critical moment in global transportation history, as evidenced by the recent enactment of the 2022 Inflation Reduction Act, which aims to provide maximum investment in the fight against climate change. As demand for electric vehicles and other sustainable energy solutions is projected to grow, demand for the critical minerals needed to make the lithium-ion batteries that power them will also increase. Equally important, the industry's tremendous drive to move the supply chain from geopolitically sensitive or logistically challenging regions to localize end-to-end processing and production capacity in the US is at its highest intensity in decades.Graphex is currently one of the top suppliers of professional spherical graphite to the electric vehicle and renewable energy industry, and its global expansion strategy fully supports global energy transition and electrification efforts. Recent milestones and actions to achieve our business goals include: Graphex is one of the world's largest specialty graphite processors: increasing production from 10,000 tons to 40,000 tons per year to meet growing demand for electric vehicles; diversifying upstream procurement of raw materials to stabilize the supply chain: actively negotiating absorption agreements with natural graphite sources away from politically sensitive and/or logistically volatile regions;Through direct extraction agreements for combined raw materials and partnerships with the mining industry, new sources of raw materials are sought around the world, including operations in the US, Brazil, Canada, Africa, Australia, Europe and other locations to build midstream processing facilities close to the source of raw materials. Construction of a midstream processing plant in North America: The previously announced joint venture with Emerald Energy Solutions LLC to build a new 15,000 tonne graphite processing facility each year in Warren, Michigan, is progressing as planned. The Warren facility is the first of its kind in the US to be built with experienced commercial-scale midstream graphite processors, and the first of several facilities Graphex anticipates, and is expected to be in operation in the 2nd/3rd quarter of 2023. Actively negotiate supply agreements to sell products to Western battery manufacturers: Graphex has signed at least a confidential, non-binding memorandum of understanding with OEM EV battery manufacturers to supply anode materials to future factories, including the US, and evaluate the construction of co-located processing facilities near large OEM plants. Graphex is having similar ongoing discussions with other original equipment manufacturers and battery manufacturers. Continue to research advanced battery chemistry and material science innovations: cooperate with technical research institutes to thoroughly study electrode materials for graphene-based sodium-ion batteries