Exciting Times Ahead for Graphex Group Limited
Joint Venture with Nanshu Town Government in Phase 2 Project
Increasing Production of Graphite Anode Material and Graphene Oxide
Hong Kong, Nov. 19, 2024 (GLOBE NEWSWIRE) — Graphex Group Limited (“Graphex Group” or the “Company”) (NYSE American: GRFX | HKSE: 6128) is pleased to announce its intention to collaborate with the Nanshu Town Government in the construction of the Phase 2 of the graphite deep processing project. This project will be located in the graphite industry cluster area of Nanshu Town, Laixi City, Qingdao, Shandong, PRC.
The Phase 2 Project aims to establish manufacturing facilities that will produce 20,000 tonnes of natural graphite anode material used in lithium-ion batteries and 100 tonnes of graphene oxide used as additives in battery systems to enhance conductivities. This expansion project involves acquiring a piece of land of approximately 80 mu (5.33 hectares) in the Location and constructing a facility spanning not less than 50,000 square meters (approximately 540,000 square feet).
The Nanshu Town Government has given its initial approval for the Company to build its own renewable energy plant for factory use. The total investment for the Phase 2 Project is estimated to be around US$ 30 million. The land acquisition process will commence through an auction within six months once all relevant project plans and approvals are in place. Construction is expected to start within 4 to 6 months after the land auction, assuming successful land acquisition.
Graphex Group Limited is excited about the potential of this joint venture with the Nanshu Town Government and looks forward to the positive impact it will have on the Company’s production capabilities and contribution to the renewable energy sector.
Stay tuned for more updates on the progress of the Phase 2 Project and the Company’s continued growth in the graphite industry.
How This Collaboration with Nanshu Town Government Will Impact You
As a shareholder or potential investor in Graphex Group Limited, this joint venture signifies the Company’s commitment to expanding its production capacity and product offerings. The construction of the Phase 2 Project will not only enhance the Company’s capabilities but also potentially lead to increased revenue and profitability, which could benefit shareholders through higher stock value and dividends.
Global Impact of the Phase 2 Project
The Phase 2 Project’s focus on producing natural graphite anode material for lithium-ion batteries and graphene oxide for battery systems highlights Graphex Group’s contribution to the growing renewable energy sector. By expanding its manufacturing facilities and investing in renewable energy sources, the Company is aligning with global efforts to reduce carbon emissions and promote sustainable energy solutions. This initiative could have a positive impact on the world by advancing the development of environmentally friendly technologies and supporting the transition to a cleaner energy future.
Conclusion
Graphex Group Limited’s collaboration with the Nanshu Town Government in the Phase 2 Project is a significant step towards expanding the Company’s production capabilities and contributing to the renewable energy sector. The construction of manufacturing facilities for natural graphite anode material and graphene oxide showcases Graphex Group’s commitment to sustainability and innovation. Shareholders and potential investors can look forward to the potential benefits of this joint venture, while the global community stands to benefit from the Company’s efforts towards a cleaner energy future.
