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~ Transaction values Graphjet at pro forma enterprise value of $1.49 billion ~
~Transforms palm kernel shells, a common waste product, into high-demand graphene materials ~
~ Graphjet's state-of-the-art technology manufactures graphene and graphite, which are used in numerous advanced applications, including advanced batteries for vehicles and power storage ~
~ CEO, Lee Ping Wei, will continue to lead Graphjet ~
~ Transaction provides Graphjet the capital to accelerate growth and construct a state-of-the-art manufacturing facility ~
~ Business combination expected to close in the second half of 2022 ~
~ All Graphjet shareholders to sell 100% of their equity to Energem Corp ~
Posted In: ENCP
