Graphex Technologies Announces U.S. Expansion Progress | Financial Buzz

Graphex Technologies Announces U.S. Expansion Progress

Graphex Technologies LLC, a subsidiary of Graphex Group Limited (NYSE: GRFX) have provided an update on milestones achieved in 2022 and its objectives for the remainder of the year.  Graphex Technologies expansion within the U.S. in its automotive sector was strategic by the recent enactment of the inflation reduction act of 2022.  Demand for electric vehicles and other sustainable energy solutions are expected to grow. 

“As we continue to pursue supply agreements and prepare to break ground at our new processing plant in Michigan in the heart of the automotive sector, we believe that the growth trajectory for Graphex is completely aligned with and supported by recent policy advances and funding opportunities for domestication of critical mineral processing,” said John DeMaio, CEO of Graphex Technologies and President of the Graphene Division of Graphex. “As we recently shared with the New York Times, we believe that the invocation of the Defense Production Act, the Bipartisan Infrastructure Law, and the newly enacted Inflation Reduction Act of 2022 will greatly assist companies like Graphex to accelerate the scale of domestic production to meet demand and in turn accelerate the transition to EVs and other sustainable energy solutions that utilize lithium-ion (Li-ion) batteries. Having experienced many campaigns for change over a long career in the energy transition arena, I am very encouraged to see such widespread foundational support for the electrification of mobility, and to see policy become legislation and legislation beget funding at a truly unprecedented pace.”

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