Kuala lumpur: Malaysian advanced-materials company developing copper-composite materials for industrial applications Vertex Material has emerged as a new unicorn, achieving a valuation of approximately US$7 billion (US$1=RM4.08) and is targeting a listing on Nasdaq in 2027.
According to BERNAMA News Agency, the valuation was determined in a report prepared by a Malaysian accounting firm. The company announced that its proposed listing would run in parallel with a strategic plan to establish manufacturing operations in the United States (US), aimed at supporting commercial scale-up, facilitating direct copper sourcing, and streamlining manufacturing logistics for its target customer base.
Vertex Material stated that the planned listing on Nasdaq is expected to strengthen its global brand recognition and provide access to capital, which will be utilized to expand its US production footprint. Commercially, the company has already secured a significant offtake arrangement for 160,000 tonnes of product annually.
Founder and technical director Datuk Tan Chin Tong emphasized that the offtake arrangement provides an important demand base for the company, while the proposed US operation is intended to bring production closer to its suppliers and customers. He added that the next phase involves execution, focusing on demonstrating consistent product performance, expanding manufacturing capacity, and building a reliable supply chain around the secured customer demand.
The company explained that its proprietary copper-composite formulation and manufacturing process is designed to help manufacturers use copper more efficiently. This is achieved by reducing the volume of pure metal required while maintaining the necessary electrical, thermal, and mechanical characteristics. The materials are developed for applications where 100 per cent pure copper is not technically required, enabling manufacturers to use a composite alternative that meets engineering tolerances.
Vertex Material also highlighted the increasing global demand for copper, driven by the growth of modern infrastructure and technologies such as artificial intelligence, semiconductors, data center construction, and military defense systems. Citing the International Energy Agency, the company noted that the global copper market was valued at US$248.2 billion in 2025, with a projected 30 per cent deficit in global copper production by 2035 based on current project pipelines and recycling efforts.
The company aims to capitalize on this structural deficit by combining copper with other composite materials to increase the total quantity of usable material produced from a given baseline of raw copper. Having successfully established a pilot plant in Malaysia, Vertex Material is now preparing to expand its operations into the US to meet the growing demand.
With the Americas housing some of the world's largest copper producers, including the US, Canada, Peru, and Chile, the expansion strategically places Vertex Material near vital raw material sources to fuel its production.