Graphjet found the best geopolitical location in Nevada.
Power Supply
Export bans and the tension between China and the USA are the winning tactics for the expansion of the Malaysian graphite company.
Facebook
LinkedIn
Danielle Miles
September 5, 2024
When China, the world's largest graphite producer, implemented strict restrictions on graphite exports in December 2023, Graphjet Technology found an opportunity. It's time to accelerate the plan to enter the USA market.
The patented technology of this Malaysian company converts biomass into synthetic graphite, which is a key component of electric vehicle batteries and semiconductors.
"The announcement in December was indeed surprising. We thought they might impose a ban, but we have to wait until the end of this year or next year," Graphjet CEO Aiden Lee told fDi at the June Select USA Investment Summit. "But in terms of opportunity, this is actually favorable for our company."
According to Statista, graphite is a missing link in the US electric vehicle battery supply chain, with over 40% of graphite demand relying on China. Despite governmental efforts to promote the development of critical mineral industries, the country has not yet exploited graphite. Graphjet considers itself part of this solution and announced plans in April to invest $0.2 billion to build a groundbreaking facility in Nevada...