KUALA LUMPUR: Malaysian advanced-materials company Vertex Material has secured a 15 year offtake agreement valued at approximately US$2.2 billion (RM9 billion) with US-based Sky-Dweller Construction LLC as it expands its commercial reach into India and prepares for a proposed Nasdaq listing in 2027.
The agreement builds on the companies’ existing distribution arrangement in the United States and Canada, and is expected to strengthen Vertex Material’s commercial pipeline as it scales up its planned manufacturing operations.
Sky-Dweller, part of Aurelius Materials, will support the expansion into India, targeting industrial manufacturing, electrical and energy infrastructure, and electronics-related thermal-management applications.
Vertex Material CEO Chris Lai said the agreement would strengthen the company’s position as it expands its international reach.
“Our task is to turn the material we have developed here in Malaysia into products that global manufacturers can readily adopt.
“The expansion into the Indian market will further increase the viability of the US facility.
“This US$2.2 billion offtake provides a solid foundation for that next stage in making Vertex Material an industry player globally,” he said at the Vertex Material Business signing ceremony yesterday.
Lai said the agreement would broaden the company’s commercial opportunities through its partnership with Sky-Dweller while complementing its existing distribution network in North America.
“The offtake agreements allow Vertex Material’s proprietary copper-composite material to be supplied to India, which broadens the commercial opportunities we can pursue through the partnership, complementing our established distribution footprint in North America,” he added.
According to figures from the International Copper Association India reported by the India Brand Equity Foundation, India’s copper demand rose 12% year-on-year to approximately 2.1 million tonnes in financial year 2026, driven by infrastructure development and growth in the automotive and construction sectors.
Vertex Material develops copper-composite materials designed to retain much of copper’s thermal and electrical conductivity while offering corrosion resistance and improved machinability.
The technology aims to reduce the amount of pure copper required in suitable industrial applications amid concerns over tightening global supply.
The International Energy Agency projects that mine supply from existing and announced projects could fall approximately 25% short of primary copper requirements by 2035.
Lai said the company was focusing on applications where its technology could improve material efficiency without compromising performance.
“The question is not simply how much copper a material contains, but whether it can do what is required. Our focus is on applications where we can make each tonne of copper go further while meeting the required performance,” he added.
To support its growing commercial pipeline in North America and India, Vertex Material is evaluating potential sites in Arizona for a manufacturing facility with a targeted eventual annual production capacity of one million metric tonnes.
Commercial production is targeted to begin in 2028, subject to final site selection, financing and regulatory approvals.
Lai said the company’s immediate priority was to establish its US operations before considering further expansion into other markets.
He said the United States was a strategic location for the planned facility as it offered access to copper supplies from nearby producers, including Canada, Chile and Peru.
Vertex Material is also targeting a proposed Nasdaq listing in the second or third quarter of 2027, through which it plans to raise between US$300 million and US$400 million.
Lai said the company had appointed the necessary advisers and was preparing its audits, regulatory filings and supporting documentation for the proposed listing.
“We are planning to raise close to about US$300-US$400 million minimum,” he told reporters at a press conference after the signing ceremony.
He said the company preferred Nasdaq over a local listing as it sought to tap into US government incentives and strengthen its presence in the American market.
The proposed Nasdaq listing remains subject to the relevant regulatory requirements and approvals.
