| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Graphjet Technology Sdn. Bhd., an innovative graphene and graphite producer ("Graphjet," "GTI" or the "Company"), today announced a memorandum of agreement with UK based Quantum Science Ltd. The companies intend to explore technical and commercial opportunities deploying Graphjet's sustainably sourced high purity graphite and graphene products in conjunction with Quantum Science's nanomaterials and quantum dot (QD) technologies.
Plans are already underway for the two parties to create a flagship new materials platform and co-develop a range of new products that accelerate technological advances, with work due to start as soon as the agreement is finalized in early 2023.
Patrick Teh, Director UK and Europe at Graphjet, said that the collaboration with Quantum Science will "combine the strength and wisdom from both companies," adding that "the perfect property synergy of graphene and QDs can make a revolution."
Quantum Science's QD technology promises to revolutionize the multi-billion dollar industries reliant on shortwave infrared (SWIR) imaging and sensing by vastly simplifying how QDs can be manufactured and applied. The company's state-of-the-art solutions have promising applications for fields including facial recognition, advanced IoT sensors, night vision enhanced security monitoring, and long-range automotive Lidar, among many others.
Privately held Graphjet has also previously proposed a $1.5 billion business combination with Energem Corp ("Energem") (NASDAQ:ENCP), a special purpose acquisition company, by which Graphjet will become a United States based holding corporation listed on the Nasdaq Stock Exchange.
Aiden Lee, CEO of Graphjet, said: "We are excited to team up with Quantum Science, a world leading QD innovator and developer, to advance our graphene products development and offerings. It will enable our ever-increasing customer base to access to the most advanced materials platform at unparalleled cost advantages, introducing new features and bringing significant value to their businesses. We are pleased to continue our rapid forward progress as a sustainably sourced provider of graphite and graphene at a price that can be 80% less than competitors in a market using carbon-intensive production means resulting in lesser quality materials."
Dr Hao Pang, CEO of Quantum Science, commented: "We are delighted to partner with GTI, a world-leading graphite and graphene producer, to advance our innovation and product offerings to our customers. Both QD and graphene materials have great potential synergies and offer unparalleled technical advantages for a wide range of applications, that can only benefit our customers, end-users and stakeholders alike."
Founded in 2018, Quantum Science innovates, develops and manufactures high performance and high-quality INFIQ® SWIR QD, SWIR lead-free QD, QD inks at scale used in infrared imaging and semiconductor sensing applications for the multi-billion-dollar automotive Lidar, medical technology and artificial intelligence markets. Quantum Science's best-in-class INFIQ® infrared quantum dots are set to disrupt the shortwave infrared (SWIR) sensing market expected to reach $4 billion in size by 2027.
The Graphjet-Energem Proposed Combination
The proposed business combination, which has been approved by the boards of directors of Energem and Graphjet, is expected to be completed in early 2023, subject to, among other things, the approval by Energem's shareholder, satisfaction of the conditions stated in the definitive agreement and other customary closing conditions, including a registration statement being declared effective by the SEC and approval by The Nasdaq Stock Market to list the securities of the combined entity.
Upon the closing of the business combination between Energem and Graphjet, Energem expects to be renamed Graphjet Technology and, as a publicly listed holding company, with Graphjet as its wholly-owned subsidiary, be listed on the Nasdaq Global Market under the ticker symbol "GTI."
About Quantum Science Ltd
Quantum Science Ltd ('QS') is a leading British materials innovation company that focuses on developing and commercialising QDs, nanomaterials and technologies for the machine vision and sensing markets. The QS teams are world-leading experts in QD synthesis and scale-up, nanocrystal and nanoparticle surface engineering, ink formulation, thin-film processing and QD semiconductor device engineering. Learn more at https://quantumscis.com/.
About Graphjet Technology Sdn. Bhd.
Graphjet Technology Sdn. Bhd. was founded in 2019 in Malaysia as an innovative and ESG-friendly graphene and graphite producer. Graphjet Technology has the world's first patent-pending technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite at far lower cost than traditional carbon-intensive approaches.
Graphene is presently one of the highest-profile materials in the world, also known as "black gold" and the "king of new materials." Graphene's high electric and thermal conductivity, hardness greater than that of a diamond and ultralight weight makes it critical to a number of innovative industries, including electric vehicle batteries, semiconductors, composite materials and biomedical applications. Graphjet's sustainable production methods utilizing palm kernel shells, a common agricultural waste product in Malaysia, will create a new paradigm and sustainable global supply chain to support graphite and graphene demand. Additional information is available online at https://www.graphjettech.com/.
About Energem Corp.
Energem Corp. is a blank check company formed for the purposes of effecting a merger, capital share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more energy and/or sustainable natural resource companies. In November 2021, Energem consummated a $115 million initial public offering of 11.5 million units (reflecting the underwriters' full exercise of their over-allotment option), each unit consists of one Class A ordinary share and one redeemable warrant, each warrant entitles the holder to purchase one Class A ordinary share at a price of $11.50 per share. ARC Group Limited acted as sole financial advisor and EF Hutton, division of Benchmark Investments LLC, served as the sole book-running manager of Energem's initial public offering.
Posted In: ENCP
