Graphjet Technology aligns with NIMP 2030’s goals, aims to elevate Malaysia’s high-value job sector
06 Sep 2023
Graphjet Technology Sdn Bhd (GTSB) aims to rejuvenate local ecosystems, foster innovation and cultivate talent while benefiting from support from the government, including access to the Industrial Master Plan 2030 (NIMP 2030) funds.
The Nasdaq-bound local company noted that initiatives driven by NIMP 2030 will foster innovation and cultivate talent, with GTSB leading the charge.
At the heart of the Madani Economy, this plan underscores the nation’s dedication to creating high-value job opportunities, fortifying the middle class, and architecting a more equitable and prosperous society.
GTSB, a leading graphite and single-layer graphene producer, recycles palm kernel shells from palm seed oil to produce single-layer graphene and artificial graphite.
GTSB’s innovations fit with the objectives of NIMP 2030, and this strategic initiative represents Malaysia’s dedication to shaping a vibrant industrial future, focused on fostering high-value jobs, strengthening the middle class, and driving sustainable societal advancement.
Further, the company has also been chosen as one of the champions of the NIMP 2030.
This endorsement under NIMP 2030, launched by Prime Minister Datuk Seri Anwar Ibrahim and the Ministry of Investment, Trade and Industry (MITI), has recognised GTSB in four advanced materials under the mission-based project (MBP 1.4).
With this recognition, GTSB is poised for numerous benefits.
Beyond expanding business opportunities, the company will become integral to a landmark national project. With the government’s steadfast support, challenges will be addressed promptly, ensuring a smooth journey ahead.
Additionally, GTSB will gain privileged access to NIMP 2030 funds and hold a vital position in policy governance, contributing significantly to industry development.
GTSB chief executive officer Aiden Lee Ping Wei said being selected as a champion for NIMP 2030 resonates deeply with the company’s core values and aspirations.
“We are the first in the world to transform renewable raw materials, such as palm kernels, into graphite and single-layer graphene.
“We have created a unique patented method to turn palm kernel shell waste into single-layer graphene at a much lower cost. This breakthrough places us at the forefront of advanced material innovation in Malaysia,” he said in a statement.
During the launch of the NIMP 2030, Anwar said the government is fully committed to supporting its implementation.
He said the plan would require an estimated investment of RM95 billion through its seven years, predominantly from the private sector mobilised from private equity, capital and financial markets.
The government will allocate close to 10 per cent to help catalyse and incentivise these investments via the NIMP Industrial Development Fund and the NIMP Strategic Co-Investment Fund.
Coinciding with this national role, GTSB’s forthcoming Nasdaq listing underscores its global ambitions, bringing international attention to Malaysia’s advanced industrial blueprint.
The company is making significant strides towards its listing on Nasdaq, projected to lead to a market capitalisation of US$1.5 billion, showcasing its robust growth trajectory and global investor confidence in its potential.