KUALA LUMPUR (Sept 17): Vertex Material, a Malaysian advanced materials company, has set its sights on a Nasdaq listing next year.

Plans are afoot for a manufacturing operation in the US to support commercial-scale production, provide direct access to copper supplies, and streamline manufacturing logistics for its target customers, the company said in a statement. The company claims it has a valuation of US$7 billion (RM28.69 billion).

A Nasdaq listing would provide access to capital to support the expansion of its US production footprint while strengthening its international profile, Vertex Material said.

Vertex Material focuses on developing next-generation copper composite materials for applications in electrification, renewable energy infrastructure, electric mobility, artificial intelligence infrastructure and high-performance electronics.

Prices of copper — used in everything from household wiring and plumbing to high-tech smartphones and electric vehicles — have hit all-time highs this year in-part due to concerns over ore supply. Vertex Material currently owns and operates a plant in Kampung Baru Subang and has secured an offtake arrangement for 160,000 tonnes of product annually.

The offtake arrangement provides the company with a demand base, while the proposed US operation would bring production closer to suppliers and customers, said founder and technical director Datuk Tan Chin Tong.

“The next phase is about execution,” he said. “We need to demonstrate consistent product performance, expand manufacturing capacity and build a reliable supply chain around the customer demand we have secured.”