Energem today said it has filed a confidential F-4 with the SEC outlining its proposed acquisition of Graphjet Technology Sdn. Bhd., a Malaysian company that owns a patent-pending technology to recycle palm kernel shells generated in the production of palm seed oil to produce single layer graphene and artificial graphite.
Terms call for Graphjet investors to receive $117 million of cash in Energem’s trust, as well as rollover equity.
The proposed business combination is expected to be completed in early 2023, pending regulatory and shareholder approvals.
Graphjet was founded in 2019 as an innovative and ESG-friendly graphene and graphite producer. Read more.
