Graphex Group Limited - GRFX STOCK NEWS

Graphex Technologies aims to establish a robust graphite supply chain in the US by processing flake graphite and exploring purification methods. The company will construct a pilot-scale shaping and purification facility in Warren, MI, to support the growing demand for domestic graphite, particularly for EV batteries. This initiative aligns with the Inflation Reduction Act and seeks to enhance domestic production capabilities, as current projections indicate graphite demand could reach 200,000 tons per year. Graphex plans to expand production from 10,000 to 40,000 tons annually in three years.

Graphex Technologies has formed a strategic partnership with ReCharge Global Corp. to enhance the supply of graphite anode materials for the electric vehicle (EV) industry. This collaboration aims to establish localized supply chains, initially focusing on opportunities in Australia. Graphex plans to expand its production of battery-grade purified spherical graphite from 10,000 to 40,000 metric tons per annum over three years. The partnership leverages both companies' expertise to address the growing demand for stable supplies of critical minerals in the EV market.

Graphex Group Limited (NYSE American: GRFX) announced its preliminary interim financial results for the first half of 2022, highlighting steady revenues, particularly in the graphene products sector amid ongoing supply chain challenges. The company successfully reduced costs and debt, leading to positive cash flow despite slight revenue declines. Graphex aims to expand its graphite production and localize critical mineral supply chains, including a new processing facility in Michigan. The joint venture in Michigan supports the EV supply chain and coincides with the growing demand for electric vehicles.

Graphex Group Limited (NYSE American: GRFX) announced that underwriters exercised their over-allotment option to purchase an additional 704,347 American Depositary Shares (ADSs) at $2.50 per ADS, raising approximately $1.7 million in gross proceeds. This follows a previously completed public offering of 4,695,653 ADSs also priced at $2.50 each. The offering was managed by EF Hutton, division of Benchmark Investments. Graphex specializes in processing natural graphite for electric vehicle lithium-ion batteries and produces over 10,000 metric tons of spherical graphite annually.

Graphex Technologies is expanding its graphite production capabilities globally, with a focus on establishing a mid-stream processing facility in Warren, Michigan. This move aligns with the increasing demand for lithium-ion batteries for electric vehicles as driven by the Inflation Reduction Act of 2022. The company is enhancing production from 10,000 to 40,000 tonnes annually and diversifying raw material sources to stabilize supply chains. The first U.S. processing plant is projected to be operational by Q2/Q3 2023, further supporting its strategy of localizing critical mineral supply chains.

Graphex Group Limited (NYSE American: GRFX) has successfully completed an upsized public offering of 4,695,653 American Depositary Shares (ADSs) at a price of $2.50 per ADS, generating approximately $11.7 million in gross proceeds. The offering includes an option for underwriters to purchase an additional 704,347 ADSs. The ADSs began trading on August 17, 2022. Graphex specializes in processing natural graphite for electric vehicle lithium-ion batteries, producing over 10,000 metric tons of spherical graphite annually, and holds significant patents and technology in the industry.