Frost & Sullivan Recognizes Graphjet Technology with Prestigious 2023 Best Practices Awards
Frost & Sullivan Global Leadership Award 2023, Global Technology Innovation Leadership Award 2023, Global Entrepreneur Excellence Award 2023
SHANGHAI--(BUSINESS WIRE)-- Graphjet Technology Sdn Bhd, the world's first and only graphene and graphite producer using innovative waste to super-material conversion technology, has received the Frost & Sullivan 2023 Global Leadership Award and 2023 Global Technology Innovation Leadership Award. Furthermore, AIDEN LEE PING WEI, CEO and Founder of Graphjet Technology, has received the Frost & Sullivan 2023 Global Entrepreneur Excellence Award.
Frost & Sullivan, a worldwide renowned consulting firm, annually presents Best Practices Awards that recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts from Frost & Sullivan compare market participants and assess their individual performance through in-depth interviews, analysis, and extensive secondary research to identify industrial best practices.
The recognition of Graphjet Technology reflects how well the company excels in the global graphite and graphene industry, especially in the advanced single-layer graphene area. Graphene is seen as the “Wonder Material” of the 21st Century due to its extraordinary properties as well as its wide applications in various downstream areas such as energy, electronics and bioengineering. However, extremely high costs and potential pollution associated with the production process of graphene are the major restraints of graphene’s large-scale commercialization. Under such circumstances, it is crucial to develop a cost effective and sustainable way to produce synthetic graphite and graphene. For instance, biomass waste is among attractive carbon sources that have been widely investigated as raw material for graphite and graphene production. The synthesis and application of biomass as a carbon source has drawn extensive attention due to it availability, sustainability and cost efficiency, according to Frost & Sullivan. Among all the leading players in the graphite and graphene industry, Graphjet Technology has achieved a substantial technology breakthrough, it has also obtained the first patented technology worldwide through recycling palm kernel shells generated in the production of palm seed oil to produce single-layer graphene and artificial graphite. Malaysia is the second largest country producing palm kernel shell waste, which has led to sufficient supply of raw material for Graphjet. With palm kernel-based technology, Graphjet can manufacture graphite and graphene products of higher quality than those being currently available, which is provided at a price that is 80% lower than the current market price. In terms of environmental protection, the resources’ supply of palm kernel shell guarantees sustainability and recyclable regeneration for the production of graphite and graphene. As palm kernel shell is used as the raw material, the CO2 emission during the entire graphite production process of Graphjet amounts to only 2.95 kg CO2 eq, which is much lower than industry average. At present, Graphjet has cooperated with the Massachusetts Institute of Technology (MIT) and various local universities in Malaysia, and it has become a member of the Industrial Liaison Program (ILP). Furthermore, in December 2022, Graphjet announced that it has become a part of the World Economic Forum New Champions Community, a group of purpose driven dynamic mid-size, high-growth companies that are championing new business models, emerging technologies, and sustainable growth strategies in the Fourth Industrial Revolution to create a better future. As the global thought leader on critical issues such as energy transition and carbon emission reduction, World Economic Forum is directly aligned to Graphjet's mission to provide sustainably sourced graphite and graphene critical to new energy innovation and net-zero contribution programs essential to fighting global climate change. Currently Graphjet has made substantial progress in promoting the commercialization of its biomass waste based graphite and graphene products, in terms of its production capacity, Graphjet expects to open its first manufacturing plant in the Kuantan district of Pahang State with an annual output of 10,000 tons of graphite and 60 tons of graphene.
Frost & Sullivan also recognizes AIDEN LEE PING WEI, CEO and Founder of Graphjet Technology, with the 2023 Global Entrepreneur Excellence Award. Aiden Lee Ping Wei, a Malaysian, male, aged 34, was appointed as the Executive Director for a few Public Listed companies in Malaysia. His responsibilities include managing company operations, serving as top and last decision maker for the company to achieve their targets, and has experience in M&A working with various types and levels of investment bankers and fund managers across the world. He has more than 10 years’ experience in engineering, construction, property development, telecommunication, energy and utilities industries serving in various capacities as Project Director and Corporate Finance Director in China GLC listed companies. He was the Director and Managing Director in several local IT, energy and utilities companies. He has managed and completed billions’ worth of highly claimed projects in China, Hong Kong and Malaysia. Now, he is leading the listing of Graphjet Technology Sdn Bhd on Nasdaq and has reached an agreement with Energem Corp. A Special Purpose Acquisition Company (SPAC).
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 60 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
About Frost & Sullivan Award
Every year, Frost & Sullivan selects Best Practices Awards recipients based on the findings of industry analysts, who compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to evaluate and identify best practices within specific industries. Frost & Sullivan applies a strict analytical process to evaluate multiple nominees for each award category before determining the final award recipient.
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