KUALA LUMPUR, 18th JANUARY 2023 – NASDAQ-bound Graphjet Technology Sdn Bhd (“Graphjet Technoloy”), the world’s leading graphite and single-layer graphene producer, has recently via its special purpose acquisition company (“SPAC”) Energem Corp (Nasdaq: ENCP, ENCPW) entered into a definitive USD200 million Standby Equity Purchase Agreement (“SEPA”) with YA II PN, Ltd (“YA II PN”).

YA II PN is a Cayman Islands exempt limited partnership managed by Yorkville Advisors Global, LP, who will be the investor for this SEPA.

Under the terms of the SEPA, Graphjet Technology may issue and sell to the Investor up to USD200 million worth of the Company’s shares at any time during the 36 months pursuant to the terms and customary conditions set forth in the SEPA.

Graphjet Technology is in the midst of completing the business combination with Energem, where the results will see Energem being renamed to Graphjet Technology and is expected to be listed on the Nasdaq Global Market under the ticker symbol “GTI”.

Graphjet Technology’s Chief Executive Officer, Mr Aiden Lee Ping Wei said, “The access to this equity funding under the SEPA is a significant step towards accelerating growth and constructing a state-of-the-art manufacturing facility in the face of persistent demand for graphite, which is the largest component of the lithium-ion battery with about half of a lithium-ion battery comprised of graphite.

Graphite is the key raw material in the battery anode, with almost all EV battery anodes comprising 100% graphite. As such, graphene-based anode battery materials are critical in the world of EVs.

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