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Graphex Group Provides Important Updates on its Global Mine-to-Battery Solution, Including the Separation of its US Subsidiary Graphex Technologies LLC into a Standalone US company, and Financing for a 200% Production Increase over Current Levels

mine battery solution Graphex Group

Graphex Group Provides Important Updates on its Global Mine-to-Battery Solution, Including the Separation of its US Subsidiary Graphex Technologies LLC into a Standalone US company, and Financing for a 200% Production Increase over Current Levels.

Graphex Group Limited (“Graphex Group” or the “Company”) (NYSE American: GRFX | HKSE: 6128), together with its wholly owned U.S. subsidiary, Graphex Technologies, LLC (Graphex Tech), see the recent steps being taken by the governments of the US and China as validation of Graphex’s long-standing strategy to expand operations globally and to create separate, domestic end-to-end production ecosystems – from mine to battery – to serve both markets.

With over a decade of commercial scale production experience and proven proprietary technology and methods, the expansion in both the U.S. and China is expected to be seamless.

As of December 18, 2023, the global market capitalization of Graphex Group was approximately US$42.622 million.

Our current maximum annual production capacity is 10,000 tonnes per annum (tpa) of anode material, all processed in China.

U.S. Operations Separation

  • On December 6, 2023, Graphex Group announced the signing of an LOI with a NASDAQ-listed SPAC
  • The LOI contemplates a pre-money enterprise valuation of Graphex Technologies, Graphex Group’s US operating arm, net of liabilities, between US$100 million to US$200 million
  • Upon the completion of the intended transaction with the SPAC, the anticipated consideration of US$100 million to US$200 million in consideration shares for the separation of Graphex Tech will be distributed to all Graphex Group shareholders.
  • Upon completion of the transaction, Graphex Tech will be its own, stand-alone entity independent of Graphex Group

More information on Graphex Tech and this U.S. initiative will follow in a separate corporate update

Production Expansion Update

  • Current graphite anode production capacity – 10,000 tpa
  • LOI from a major bank in China for project financing of RMB400 million (US$56.5 million) to complete first expansion phase in Qingdao, Shandong, PRC
  • First expansion phase expected to complete in Q3 2024 and increase capacity by 200% to 30,000 tpa
  • Second expansion phase expected to be completed by the end of 2025 and increase capacity by an additional 30,000 tpa to 60,000 tpa
  • Expansion expected to unlock substantial growth driven by increasing demand for graphite materials used in lithium battery production
  • Additional expansion plans in place to reach over 100,000 tpa before 2030

More information on Graphex Group and the China expansion initiative will follow in a separate corporate update

To learn more about Graphex Technologies, please visit www.graphexgroup.com.

READ the latest Batteries News shaping the battery market

Graphex Group Provides Important Updates on its Global Mine-to-Battery Solution, Including the Separation of its US Subsidiary Graphex Technologies LLC into a Standalone US company, and Financing for a 200% Production Increase over Current Levels. source

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