Energem Corp. functioned as a special purpose acquisition company, established without active operations to pursue a strategic merger, share exchange, asset acquisition, or similar business combination. Its core objective involved identifying and partnering with enterprises primarily within the energy transition and sustainable natural resources sectors. The company successfully completed a business combination, merging with Graphjet Technology Sdn. Bhd., a Malaysian firm pioneering the production of graphene and artificial graphite from palm kernel shells, an innovative and eco-conscious process. The combined entity now operates as Graphjet Technology, concentrating on delivering these advanced materials for applications in electric vehicle batteries, medical devices, and home appliances. Energem Corp. was initially incorporated in 2021 and maintained its base in Kuala Lumpur, Malaysia.