Graphjet Technology (NASDAQ:GTI) shares are trading higher on Tuesday after the company announced that it has achieved key breakthroughs in producing synthetic graphite.

The Details: The company has produced synthetic graphite, named artificial green graphite, with a purity level of 99.9% and a graphitization level of 98.8%.

Graphjet's green graphite is produced using palm-based biomass residues, an agricultural waste product. This process contributes to sustainability by utilizing waste materials and reducing the carbon footprint of graphite production compared to traditional methods.

The company's technology generates 2.95 kg of CO2 emissions, lower than the 16.8 kg and 17 kg emissions produced by natural and synthetic graphite production in China, respectively.

"These results verify that our patented technology is mature and reliable and that we are committed to providing industry-leading artificial graphite products to global customers, backed by proven metrics that they can trust," said Aiden Lee, CEO and Co-Founder of Graphjet.

"These significant innovations further validate our technology as we position ourselves as the world's leading supplier of green graphite."

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GTI Price Action: At the time of writing, Graphjet stock is trading 26.3% higher at $3.17, according to data from Benzinga Pro.

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