ENCP - EXCLUSIVE: Energem's Malaysian Merger Partner Graphjet Technology Accelerates Production Timeline For Manufacturing Plant | Benzinga
Graphjet Technology, a Malaysian private limited company, has accelerated the timeline for its planned manufacturing plant in Malaysia.
Last week, Energem Corp (NASDAQ:ENCP) said its shareholders voted to approve the previously announced business combination with Graphjet Technology.
Graphjet has an implied pro forma enterprise value at closing of approximately $1.49 billion through its previously announced transaction with Energem.
Graphjet is advancing the construction of its first manufacturing plant in the Kuantan district of Pahang State in Malaysia, which is expected to be commissioned by the second quarter of 2024.
The facility’s completion will enable the company to begin producing graphite to supply its customer Toyoda and generate revenues in 2024.
The facility ...