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Graphex Technologies Announces Plans to Establish a New Shaping & Purification Pilot Plant in Michigan to Accelerate Domestication Efforts

GRFX

To establish a robust graphite supply chain in the US, Graphex will process flake graphite from various geographical resources, will evaluate alternative purification methods, will investigate anode optimization strategies, and has commenced a search for additional plant locations to meet growing demand for domestic graphite supply chains.

ROYAL OAK, Mich., Sept. 15, 2022 (GLOBE NEWSWIRE) -- Graphex Technologies, LLC, a wholly owned subsidiary of Graphex Group Limited (collectively “Graphex”) (NYSE American: GRFX | HKSE: 6128) and a global leader in mid-stream processing of natural graphite for use in lithium-ion (Li-ion) powered batteries, announced today that it intends to construct a pilot-scale shaping and purification processing facility at the same location as its pitch coating plant that is currently in development in Warren, MI. The pilot plant will be developed with Graphex’s established joint venture with Emerald Energy Solutions, LLC (“EES”).

As the EV industry continues to move toward domestication of the entire EV supply chain, Graphex is accelerating the advancement of mid-stream production processes of graphite. In line with the intentions of the Inflation Reduction Act and other recent legislative actions, this newly announced shaping & purification pilot plant coupled with the pitch coating plant already in development at the same location, will establish in the U.S. automotive center a full domestic processing from raw material to finished product - battery anode material for EV batteries. Additional benefits of the pilot include processing, validating, and testing spherical purified graphite and coated spherical purified graphite produced from flake graphite concentrate of various global sources, which will accelerate the qualification process of anode material from sources that are domestic and/or originated in countries with favorable trade agreements. The pilot plant will provide a platform to investigate advanced shaping, sizing, and coating technologies as well as evaluation and testing of alternative purification methods.

In parallel with the advancements made at the Warren facilities, and through the close alliance with its partners at EES, the Company plans to continue its expansion efforts by locating production facilities near concentrated point of use regions and in direct collaboration with customers. EES and the Company continue to explore new sites for additional mid-stream processing facilities in strategic locations in and around Warren, and around the country to address the gap between demand and current domestic production capabilities. With current projections for graphite demand nearing 200,000 tons per year and current domestic production at 0, one or two mid-stream plants will not be enough.

“Graphite is an essential component in EV batteries today and will remain a prevalent component for many years as EV demand increases. Graphex is taking steps to not only increase domestic production and diversify the upstream resources of this critical mineral, but to also continuously improve our technology and capabilities to meet the needs of the industry,” said John DeMaio, CEO of Graphex Technologies. “The OEMs and EV battery manufacturers require high quality, high volume, spherical graphite for their gigafactories and Graphex’s technical capability and operational agility will enable us to meet their needs.” Mr. DeMaio added that the development of a pilot-scale shaping and purification processing facility is keeping with Graphex’s long-standing and proud commitment to ESG (Environmental / Social / corporate Governance).

To learn more about these initiatives and more from Graphex Technologies, please visit www.graphexgroup.com

About Graphex
Graphex Technologies is a wholly owned U.S. subsidiary of Graphex Group Limited, a Cayman Island company with principal and administrative offices in Hong Kong and U.S.subsidiary office in Royal Oak, MI. Graphex is focused on the development of technologies and products to enhance renewable energy, particularly the enrichment of spherical graphite and graphene, key components for EV batteries and lithium-ion batteries for other use cases. Proficient in the commercial deep processing of graphite, Graphex has extensive commercial experience producing battery grade purified spherical graphite to the power battery market, currently at a volume of 10,000 metric tons per annum (tpa) with intentions to expand production to 40,000 tpa over the next three years. With a strategy to expand its global operations to support energy transition and electrification efforts worldwide, Graphex is currently among the top suppliers of specialized spherical graphite to the EV and renewable energy industries and holds patents in areas including products, production methods, machinery design, and environmental protection.

Forward Looking Statements
All statements contained in this presentation other than statements of historical fact, including statements regarding our future results of operations and financial position, our business strategy and plans and our objectives for future operations, are “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and the safe harbor in Section 27A and 21E of the Securities Act of 1933 and the Securities Exchange act of 1934, respectively. You can identify some of these forward looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely,” “potential,” “continue” or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events that we believe may affect our financial condition, results of operations, business strategy and financial needs. We have based these forward looking statements largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short term and long-term business operations and objectives, and financial needs. These forward looking statements involve various risks and uncertainties.

Information from third sources identified in this release are based on published reports for such information and we have assumed the accuracy of such reports without independent investigation or inquiry.

This communication is for informational purposes only and is neither an offer to sell nor a solicitation of an offer to purchase any securities of Graphex Group Limited, including but not limited to its American Depositary Shares.

Media Contact:
FischTank PR
graphex@fischtankpr.com


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