On Tuesday, Graphjet Technology (NASDAQ:GTI) announced that it has achieved breakthroughs in catalyzing graphitization to produce high-quality synthetic graphite with its patented green graphite production technology.

The company said its green graphite technology is the first in the world to produce artificial graphite directly from palm kernel shells, a widely available waste product in Malaysia and Indonesia.

Pilot-scale testing has demonstrated that Graphjet's artificial graphite can achieve up to 99.99% purity levels.

Also Read: Biden Targets China With New Chip Restrictions, Nvidia Slides

In addition to the high purity levels achieved, Graphjet's production technology boasts a 98.8% graphitization level.

The artificial graphite production process generally involves raw material mixing, molding, high-temperature and high-pressure graphitization, and modification of graphite characteristics.

A high graphitization level is key for the company's green graphite technology. High graphitization demonstrates that the composition of the graphite lattice is highly organized and of a uniform crystal structure, which results in improved physical and chemical characteristics.

The company said graphite of this quality is a remarkable material for industries and applications such as lithium-ion batteries, thermal management, and graphite electrodes.

Third-party labs in China have validated the company's technological achievements, the company said.

Higher graphitization levels signify a higher percentage of graphite crystal formation within a graphite sample. The graphitization level will depend on critical factors such as temperature, pressure, time, and graphitization gas.

Artificial graphite with favorable heat conductivity, stability, and chemical properties can be used to produce lithium-ion batteries, graphite electrodes, heat management, and high-performance porcelain industries.

The company said that Graphjet's high-performance artificial graphite will enable the market to foster breakthrough technologies and new applications, thereby extending the range of applications.

Graphjet recently commissioned the world's first and largest green graphite facility in Malaysia. The facility has an annual production capacity of up to 3,000 metric tons of battery-grade graphite. This production level supports battery production for approximately 40,000 electric vehicles annually.

The company said that per kg of graphite produced, Graphjet's patented technology produces only 2.95 kg of CO2 emissions, compared to 16.8 kg and 17 kg from natural and synthetic graphite production in China.

Price Action: GTI stock closed lower by 6.69% at $2.51 on Monday.

Also Read:

• Amazon And Walmart Dominate Black Friday As Online Sales Soar 14.6%