Graphjet Technology is a pre-revenue Malaysian materials company developing a process to manufacture artificial graphite and graphene from palm kernel shells, a waste by-product of palm oil production. Graphjet's two core products are graphite, used primarily in lithium-ion battery anodes, and graphene, used in energy storage, electronics, and other industrial applications. Graphjet claims its patented pyrolysis-based process can produce graphite at roughly $4,500 per ton, well below the $8,000–$20,000 per ton cost of natural or conventional artificial graphite, and graphene at 80–90% below current market prices, at a purity exceeding 99.99%. The company intends to sell directly to industrial customers, primarily EV battery manufacturers, with revenue driven by volume and price per ton or gram. Graphjet has signed one supply agreement with Toyoda, an EV and hydrogen vehicle company, for $30M per year, though no deliveries have occurred. Graphjet currently operates a small-scale facility in Malaysia and plans to build out larger facilities in Malaysia and Nevada, the latter targeting EV manufacturers seeking domestically sourced materials eligible for IRA tax credits. The company has 20 employees and has not yet generated product revenue. Graphjet's shares were delisted from Nasdaq in November 2025 and now trade on the OTC Pink marketplace.