Latest news with #Graphjet
Yahoo
2 days ago
- Automotive
- Yahoo
Supplier expects to benefit from $16.5B Tesla, Samsung AI chip deal
This story was originally published on Automotive Dive. To receive daily news and insights, subscribe to our free daily Automotive Dive newsletter. Dive Brief: Tesla's $16.5 billion AI chip deal with Samsung, announced by CEO Elon Musk on his social media platform X, is set to provide a major boost to U.S. semiconductor manufacturing as well as benefit an emerging field of domestic suppliers including Graphjet Technology, the company announced Monday. Graphjet, a producer of graphene and graphite, said Tesla's announcement was timely with its plan to build a production plant in Nevada. 'As a producer of graphite and graphene, Graphjet stands to benefit from the expansion of the AI chip production as graphite and graphene plays a crucial role in semiconductor manufacturing, particularly in processes requiring high temperature and precise control,' CEO Chris Lai said in a statement. Dive Insight: Graphjet's planned facility in Nevada will convert 30,000 metric tons of agricultural waste into 10,000 metric tons of graphite annually, enough material to power more than 100,000 electric vehicles. The company patented technology to recycle palm kernel shells generated during the production of palm oil to produce single layer graphene and artificial graphite, according to its press release. Tesla's eight-year agreement with Samsung ensures a pipeline of next-generation A16 chips, which will be produced at the technology firm's new fabrication plant in Taylor, Texas. The new chips have assorted applications including use in autonomous vehicles, humanoid robots and AI data centers, according to Graphjet. Despite slowing demand for electric vehicles, the need for high-tech components including semiconductors, batteries and critical minerals, continue to rise. Many massive manufacturing building projects are already underway to develop a domestic supply chain. In December, the Department of Commerce finalized Samsung's $4.75 billion award funded through the CHIPS and Science Act to boost domestic manufacturing. It followed the previously signed preliminary memorandum of terms announced on April 15, 2024. Taiwan Semiconductor Manufacturing Co. announced plans in March announced to invest an additional $100 billion in the U.S. on top of the $65 billion it already was spending on three chip plants it was constructing in Arizona. Nvidia in April said it would invest $500 billion to manufacture AI chips in Arizona and Texas. These domestic semiconductor projects will mean potential business for Graphjet. Lai said his company has already started generating revenue and has experienced increasing interest in its products. 'The growth in the semiconductor industry will accelerate the growth of our company,' Lai said. Graphjet was founded in 2019 in Malaysia. The company aims to begin production in Nevada by 2026. Recommended Reading Tesla reports 42% YoY drop in operating income
Business Upturn
18-07-2025
- Business
- Business Upturn
Graphjet provides Nasdaq hearing update
By GlobeNewswire Published on July 18, 2025, 02:20 IST KUALA LUMPUR, Malaysia, July 17, 2025 (GLOBE NEWSWIRE) — Graphjet Technology ('Graphjet' or 'the Company') (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, announced that Mr. Chris Lai, the CEO/CFO of Graphjet has attended the previously reported hearing with the Hearing Panel on July 17, 2025 and has together with the Company's attorney presented the Company's case to the Hearing Panel. During the hearing, Mr. Chris Lai made a commitment to the Hearing Panel that the Company's Forms 10Q for the three months ended December 31, 2024, March 31, 2025 and June 30, 2025 would be filed by the middle of September 2025. The Company will update investors by making an additional press release should there be any material changes to mid-September filing. The Hearing Panel will review the Company's presentation, and is expected to return a decision within two weeks. There can be no assurance that the Hearing Panel will approve the Company for continued listing on Nasdaq. The Company will make additional update press releases from time to time when there is a material development. About Graphjet Technology Sdn. Bhd. Graphjet Technology Sdn. Bhd. (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world's first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet's sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit Cautionary Statement Regarding Forward-Looking Statements The information in this press release contains certain 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'aim,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result' and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet's industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet's ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the 'Risk Factors' section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations. Graphjet Technology Contacts Investors [email protected] Media [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Upturn
16-07-2025
- Business
- Business Upturn
Graphjet Technology Provides Update on Current Events
KUALA LUMPUR, Malaysia, July 15, 2025 (GLOBE NEWSWIRE) — Graphjet Technology ('Graphjet' or 'the Company') (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, has today filed its Form 10-K filing. During the current year, the Company has seen changes to its shareholders whereby the new controlling shareholder, Mr. Aiden, Lee has made numerous contributions to the Company, including providing funds to fund the transformation of the Company. With the funds received from Mr. Aiden Lee, the Company was able to complete its audit for the fiscal year September 30, 2024, albeit later than anticipated due to unforeseen circumstances. The Company has made plans to address the current non-compliances with the Nasdaq listing requirements. The Company has and will continue to engage an experienced accounting services firm, to advise the Company and ensure speedy completion of the Form 10Qs for the December 31, 2024 and March 31, 2025. The completion of the Form 10Qs will allow the Company to take necessary measures to raise funds to further expand the capacity and capabilities of the Company. A hearing before the Nasdaq Hearings Panel from The Nasdaq Stock Market LLC has been scheduled for July 17, 2025, during which the Company will appeal the delisting determination due to the non-compliances with the Nasdaq listing requirements. However, there can be no assurance that the Company will get a favorable outcome. The Company will also be holding a shareholders' meeting on July 30, 2025 for a reverse split exercise. The Company is confident to secure the shareholders' approval for the reverse split exercise, which is aimed at ensuring that we meet the minimum price bids. With the minimum price bids met and Form 10Qs filed, the Company will be able to attract new investors which will allow our Company to move towards compliance with the minimum market value of listed securities (MVLS). The Company is currently in discussion with a few parties who has indicated their interest in funding the Company. 'We are confident that our plan to be address the non-compliances with the Nasdaq listing requirements can be implemented. In addition, the Company will make the necessary announcement when the efforts made for the Company's transformation bears fruit' said Chris Lai, the CEO of the Company. About Graphjet Technology Sdn. Bhd. Graphjet Technology Sdn. Bhd. (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world's first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet's sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit Cautionary Statement Regarding Forward-Looking Statements The information in this press release contains certain 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'aim,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result' and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet's industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet's ability to develop and manufacture its graphene and graphite products; and (vii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the 'Risk Factors' section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations. Graphjet Technology Contacts Investors [email protected] Media [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
17-06-2025
- Business
- Yahoo
Graphjet Technology Discloses Stay of Suspension and Nasdaq Hearing Date
Innovative technological leader to oversee all technical, operational, customer support and business development initiatives KUALA LUMPUR, Malaysia, June 16, 2025 (GLOBE NEWSWIRE) -- Graphjet Technology ('Graphjet' or 'the Company') (Nasdaq:GTI), a leading developer of patented technologies to produce graphite and graphene directly from agricultural waste, today announced that the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market ('Nasdaq') on June 12, 2025 that notified the Company that Nasdaq's previously disclosed determination to suspend the trading of the Company's Class A Ordinary Shares (the 'Common Stock') has been stayed, pending a final written decision by the Nasdaq Hearing Panel (the 'Panel'). The hearing (the 'Hearing') before the Panel will be held on July 17, 2025, meaning that the Company's ordinary shares will continue to trade on Nasdaq at least until the date of the Hearing. The Company previously disclosed that it received a determination letter ('Notice') on June 4, 2025 from Nasdaq indicating that the Company was not in compliance with the requirements for continued listing under Nasdaq Listing Rule 5250(c)(1) (the 'Listing Rule') as a result of (i) the Company's delay in filing its Annual Report on Form 10-K for the period ended September 30, 2024 with the Securities and Exchange Commission (the 'SEC') and (ii) the Company's delay in filing its Quarterly Report on Form 10-Q for the period ended December 31, 2024. The Notice also stated that the Company is not in compliance with the Listing Rule due to the Company's delay in filing its Quarterly Report on Form 10-Q for the period ended March 31, 2025. This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a deficiency notification. About Graphjet Technology Graphjet Technology (Nasdaq: GTI) was founded in 2019 in Malaysia as an innovative graphene and graphite producer. Graphjet Technology has the world's first patented technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite. Graphjet's sustainable production methods utilizing palm kernel shells, a waste agricultural product that is common in Malaysia, will set a new shift in graphite and graphene supply chain of the world. For more information, please visit Cautionary Statement Regarding Forward-Looking Statements The information in this press release contains certain 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally are identified by the words 'believe,' 'project,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'strategy,' 'aim,' 'future,' 'opportunity,' 'plan,' 'may,' 'should,' 'will,' 'would,' 'will be,' 'will continue,' 'will likely result' and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Many factors could cause actual future events to differ materially from the forward-looking statements in this Current Report on Form 8-K, including but not limited to: (i) changes in the markets in which Graphjet competes, including with respect to its competitive landscape, technology evolution or regulatory changes; (ii) the risk that Graphjet will need to raise additional capital to execute its business plans, which may not be available on acceptable terms or at all; (iii) Graphjet is beginning the commercialization of its technology and it may not have an accurate estimate of future capital expenditures and future revenue; (iv) statements regarding Graphjet's industry and market size; (v) financial condition and performance of Graphjet, including the anticipated benefits, the implied enterprise value, the financial condition, liquidity, results of operations, the products, the expected future performance and market opportunities of Graphjet; (vi) Graphjet's ability to develop and manufacture its graphene and graphite products; (vii) Graphjet's ability to return to and maintain compliance with Nasdaq continued listing standards; and (viii) those factors discussed in our filings with the SEC. You should carefully consider the foregoing factors and the other risks and uncertainties that will be described in the 'Risk Factors' section of the documents to be filed by Graphjet from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward- looking statements, and while Graphjet may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. Graphjet does not give any assurance that Graphjet will achieve its expectations. Graphjet Technology Contacts InvestorsGraphjetIR@ MediaGraphjetPR@
