The Graphene-Info newsletter (January 3, 2023)

Last month, Applied Graphene Materials (AGM) reported a failed attempt to raise funds, which caused  AGM shares to plunge. Now, Applied Graphene Materials said it received non-binding indicative proposals for its sale or the sale of its main operating subsidiary.

The graphene materials maker said it is in discussions with the parties involved and expects final proposals in early January. After this, the board would select a preferred bidder to progress with. Applied added that there can be no certainty any final proposals will be made, nor the terms of any proposals made.

Malaysia-based graphite and single-layer graphene producer, Graphjet Technology (GTI), recently signed a Letter of Offer to build its RM400 million (over USD$90 million) production facility in the Phase 3 of Malaysia-China Kuantan Industrial Park.

Graphjet's patented technology aims to transform palm kernel shell, a waste from palm kernel production, into single-layer graphene, at a significantly lower cost than the current production of single-layer graphene. The production plant is expected to produce 10,000 tonnes of graphite and 60 tonnes of single-layer graphene annually.