Graphjet Technology (OTC: GTIJF) is a Malaysian-originated materials company that produces graphene and graphite from palm kernel shell biomass using patented production technology. Revenue is intended to come from direct sales of graphene and graphite products to industrial customers, though the company reported no revenue for the fiscal year ended September 30, 2024, and only nascent revenue for the fiscal year ended September 30, 2025, with net losses in both periods. The company completed a merger with blank-check company Energem Corp. on March 14, 2024, transitioning from a SPAC structure to an operating entity. As of the 10-K filed December 23, 2025, Graphjet had not yet reached commercial-scale production, was facing potential Nasdaq delisting, and was in the process of completing plant expansion and producing qualified graphite for customer sampling and testing. The company holds research and development collaborations with Universiti Kebangsaan Malaysia (UKM) under a Memorandum of Understanding signed February 1, 2021.

Revenue model

Planned transactional sales of graphene and graphite products to industrial buyers. No commercial revenue was recorded for the fiscal year ended September 30, 2024; minimal revenue was recorded for fiscal year ended September 30, 2025 per the 10-K filed December 23, 2025. The company has not disclosed pricing terms or contract structures.

Products and services

Graphene and graphite materials manufactured from palm kernel shell biomass using patented production technology. Target applications include electric vehicle batteries, medical sensors, drug delivery systems, semiconductor and sensor components, and energy storage systems for renewable energy.

Customers and end markets

No commercial customers disclosed as of the 10-K filed December 23, 2025. Target end markets include automotive (electric vehicle batteries), biomedical, semiconductor, and renewable energy storage sectors. The company was in the customer sampling and testing phase as of the filing date.

Value-chain role

Upstream materials producer. Graphjet converts agricultural waste (palm kernel shells) into synthetic graphite and graphene for sale to manufacturers in multiple industrial end markets. Raw material supply is dependent on palm kernel shell sourcing.

Geographic exposure

Operations based in Malaysia. Research and development collaborations with institutions in Malaysia, Japan (Kwansei Gakuin University), the United Kingdom (Imperial College London), and the United States (Massachusetts Institute of Technology), per the 10-K filed December 23, 2025.

Source: SEC 10-K, filed 2025-12-23

Industry: Electrical Industrial Apparatus