Graphjet Technology Sdn. Bhd. (GTI) 10-K31 Mar 222021 FY Annual reportFinancial data

Company Profile

Cover

Cover - shares	5 Months Ended
Cover - shares	Dec. 31, 2021	Mar. 31, 2022
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-41070
Entity Registrant Name	Energem Corp.
Entity Central Index Key	0001879373
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Level 3, Tower 11, Avenue 5, No. 8
Entity Address, Address Line Two	Jalan Kerinchi, Bangsar South
Entity Address, Address Line Three	Wilayah Persekutuan
Entity Address, City or Town	Kuala Lumpur
Entity Address, Country	MY
Entity Address, Postal Zip Code	59200
City Area Code	60
Local Phone Number	3270 47622
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	true
Auditor Firm ID	3686
Auditor Name	Adeptus Partners LLC
Auditor Location	Ocean, New Jersey
Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one redeemable warrant of one Class A ordinary share
Title of 12(b) Security	Units, each consisting of one Class A ordinary share, par value $0.0001 per share, and one redeemable warrant of one Class A ordinary share
Trading Symbol	ENCPU
Security Exchange Name	NASDAQ
Class Ordinary Shares Included As Part Of Units [Member]
Title of 12(b) Security	Class A ordinary shares included as part of the units
Trading Symbol	ENCP
Security Exchange Name	NASDAQ
Redeemable Warrants Included As Part Of Units [Member]
Title of 12(b) Security	Redeemable warrants included as part of the units
Trading Symbol	ENCPW
Security Exchange Name	NASDAQ
Common Class A [Member]
Entity Common Stock, Shares Outstanding		528,075
Common Class B [Member]
Entity Common Stock, Shares Outstanding		2,875,000

Balance Sheet

Balance Sheet	Dec. 31, 2021USD ($)
ASSETS
Current Assets-Cash	$ 715,727
Prepaid expenses	7,505
Total Current Asset	723,232
Cash and marketable securities held in the trust	116,726,349
Total assets	117,449,581
Current liabilities
Accrued expenses	43,871
Other payables	20,000
Promissory Note – related party	88,542
Total Current liabilities	152,413
Deferred Underwriting Commission	4,025,000
Total liabilities	4,177,413
Class A ordinary shares subject to possible redemption; 11,500,000 shares (at $10.15 per share)	116,725,000
Shareholders’ Deficit
Preferred share, $0.0001 par value; 1,000,000 shares authorized; none issued and outstanding
Common stock value
Additional paid in capital
Accumulated deficit	(3,453,173)
Total shareholders’ deficit	(3,452,832)
Total liabilities and shareholders’ deficit	117,449,581
Common Class A [Member]
Shareholders’ Deficit
Common stock value	53
Common Class B [Member]
Shareholders’ Deficit
Common stock value	$ 288

Balance Sheet (Parenthetical)

Balance Sheet (Parenthetical)	Dec. 31, 2021$ / sharesshares
Temporary equity ,shares authorized	11,500,000
Temporary equity, par value \| $ / shares	$ 10.15
Preferred stock par value \| $ / shares	$ 0.0001
Preferred stock shares authorized	1,000,000
Preferred stock shares issued	0
Preferred stock shares outstanding	0
Common Class A [Member]
Common stock par or stated value per share \| $ / shares	$ 0.0001
Common stock shares authorized	479,000,000
Common stock shares issued	528,075
Common stock shares outstanding	528,075
Common Class B [Member]
Common stock par or stated value per share \| $ / shares	$ 0.0001
Common stock shares authorized	20,000,000
Common stock shares issued	2,875,000
Common stock shares outstanding	2,875,000

Statement of Operations

Statement of Operations	5 Months Ended
Statement of Operations	Dec. 31, 2021USD ($)$ / sharesshares
Income Statement [Abstract]
Formation and Operating costs	$ 309,298
Loss from operation	(309,298)
Other Income
Interest earned on marketable securities hold in trust account	1,349
Net loss	$ (307,949)
Weighted average shares outstanding, basic and diluted \| shares	3,000,454
Basic and diluted net loss per ordinary share \| $ / shares	$ (0.10)

Statement of Changes in Shareho

Statement of Changes in Shareholders' Deficit - 5 months ended Dec. 31, 2021 - USD ($)	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Common Class B [Member]	Total
Balance – August 6, 2021 (inception) at Aug. 05, 2021
Balance, shares at Aug. 05, 2021
Issuance of Class B Ordinary shares to Sponsor		$ 288	24,712			25,000
Issuance of Class B Ordinary shares to Sponsor, shares		2,875,000
Sale of IPO Units	$ 1,150		114,998,850		$ 25,000	115,000,000
Sale of IPO Units, shares	11,500,000				2,875,000
Sale of Private Placement Units	$ 53		5,280,697			5,280,750
Sale of Private Placement Units, shares	528,075
Transaction and Underwriting cost			(6,738,148)			(6,738,148)
Class A Ordinary share subject to redemption	$ (1,150)		(116,723,850)			(116,725,000)
Class A Ordinary share subject to redemption, shares	(11,500,000)
Promissory Note reallocation			12,514			12,514
Accretion APIC deficit			3,145,224	(3,145,224)
Net loss				(307,949)		(307,949)
Balance - December 31, 2021 at Dec. 31, 2021	$ 53	$ 288		$ (3,453,173)		$ (3,452,832)
Balance, shares at Dec. 31, 2021	528,075	2,875,000

Statement of Cash Flows

Statement of Cash Flows	5 Months Ended
Statement of Cash Flows	Dec. 31, 2021USD ($)
Cash flows from operating activities:
Net loss	$ (307,949)
Adjustments to reconcile net loss to net cash used in operating activities:
Interest income from Trust Account	(1,349)
Changes in operating assets and liabilities:
Prepaid expenses	(7,505)
Accrued expenses	43,871
Other payables	20,000
Notes payable	11,579
Net cash used in operating activities	(241,353)
Cash flows from investing activities:
Investment of cash in Trust Account	(116,725,000)
Net cash used in investing activities	(116,725,000)
Cash flows from financing activities:
Proceeds from issuance of Class B ordinary shares to Sponsor	25,000
Proceeds from sale of Units, net of underwriting discount paid	112,725,000
Proceeds from sale of Private Placement units	5,280,750
Payment of Offering Costs	(303,020)
Payment of promissory note to related party	(22,197)
Payment of Accrued Expenses	(23,453)
Net cash provided by financing activities	117,682,080
Net change in cash	715,727
Cash at the beginning of the period
Cash at the end of the period	715,727
Supplemental disclosure of non-cash financing activities:
Deferred underwriting fee payable	4,025,000
Value of Class A ordinary shares subject to redemption	$ 116,725,000

Description of Organization and

Description of Organization and Business Operations	5 Months Ended
Description of Organization and Business Operations	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Organization and Business Operations	Note 1 — Description of Organization and Business Operations Energem Corp. (the “Company”) is a blank check company incorporated in the Cayman Islands on August 6, 2021. The Company was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities (“Business Combination”). While the Company may pursue a business combination target in any business or industry, it intends to focus on opportunities across the oil and gas and other potential renewable energy business, as well as other adjacent services, industrials and technologies, while remaining opportunistic across the energy value chain, including select opportunities within the traditional power generation and energy production verticals, As of December 31, 2021, the Company had not commenced any operations. All activity for the period from August 6, 2021 (inception) through December 31, 2021 relates to the Company’s formation and the Offering (as defined below). The Company will not generate any operating revenues until after the completion of its initial Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income on cash and cash equivalents from the proceeds derived from the Offering. The Company has selected December 31 as its fiscal year end. The Company’s sponsor is Energem LLC, a Cayman Island limited liability company (the “Sponsor”). The registration statement for the Company’s Initial Public Offering was declared effective on November 16, 2021. On November 16, 2021, the Company consummated its Initial Public Offering of 10,000,000 10.00 100,000,000 8,304,871 4,025,000 1,500,000 Simultaneously with the consummation of the closing of the Offering, the Company consummated the private placement of an aggregate of 475,575 10.00 4,755,750 On November 18, 2021, the underwriters purchased an additional 1,500,000 10.00 15,000,000 52,500 10.00 5,280,750 A total of $ 116,725,000 ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 1 — Description of Organization and Business Operations (Continued) Following the closing of the Initial Public Offering, $ 1,002,730 715,727 570,819 The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Units, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. NASDAQ rules provide that the Business Combination must be with one or more target businesses that together have a fair market value equal to at least 80 50 The Company will provide its holders of the outstanding Public Shares (the “public shareholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a shareholder meeting called to approve the Business Combination or (ii) by means of a tender offer. In connection with a proposed Business Combination, the Company may seek shareholder approval of a Business Combination at a meeting called for such purpose at which shareholders may seek to redeem their shares, regardless of whether they vote for or against a Business Combination. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $ 5,000,001 The Company will have until November 18, 2022 (or up to May 18, 2023, as applicable) to consummate a Business Combination. If the Company is unable to complete a Business Combination within 12 months from the closing of the Initial Public Offering (or up to 18 months from the closing of the Initial Public Offering at the election of the Company in two separate three month extensions subject to satisfaction of certain conditions, including the deposit of $ 1,150,000 0.10 amended and restated memorandum and articles of association 100,000 Accordingly, it is our intention to redeem our public shares as soon as reasonably possible following our 12th month (or up to 18 months from the closing of the Initial Public Offering at the election of the Company in two separate three month extensions subject to satisfaction of certain conditions, including the deposit of $ 1,150,000 0.10 amended and restated memorandum and articles of association ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 1 — Description of Organization and Business Operations (Continued) Our Sponsor has agreed that it will be liable to us if and to the extent any claims by a third party (other than the independent public accounting firm) for services rendered or products sold to us, or a prospective target business with which we have entered into a written letter of intent, confidentiality or similar agreement or business combination agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $ 10.15 10.15 Liquidity and Management’s Plans Prior to the completion of the Initial Public Offering, the Company lacked the liquidity it needed to sustain operations for a reasonable period of time, which is considered to be one year from the issuance date of the financial statements. The Company has since completed its Initial Public Offering at which time capital in excess of the funds deposited in the Trust Account and/or used to fund offering expenses was released to the Company for general working capital purposes. Accordingly, management has since re-evaluated the Company’s liquidity and financial condition and determined that sufficient capital exists to sustain operations through the earlier of the consummation of a Business Combination or one year from this filing and therefore substantial doubt has been alleviated. There is no assurance that the Company’s plans to consummate an initial Business Combination will be successful within the Combination Period. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	5 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2 — Summary of Significant Accounting Policies Basis of Presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934 (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates. Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company had $ 715,727 no Cash held in Trust Account At December 31, 2021, the Company had $ 116,726,349 ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Offering Costs associated with an Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“ SAB Expenses of Offering 4,279,871 4,025,000 Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480 “ Distinguishing Liabilities from Equity Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2021 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) The provision for income taxes was deemed to be immaterial for the period from August 6, 2021 (inception) through December 31, 2021. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000 465,727 Net Loss Per Share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share”. Net loss per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture. On December 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature. Recently Issued Accounting Standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Public Offering

Public Offering	5 Months Ended
Public Offering	Dec. 31, 2021
Public Offering
Public Offering	Note 3 — Public Offering Pursuant to the Initial Public Offering and full exercise underwriter’s overallotment option, the Company sold 11,500,000 10.00 Each Unit consists of one ordinary share and one redeemable warrant (“Public Warrant”) Each Public Warrant will entitle the holder to purchase one ordinary share at an exercise price of $ 11.50

Private Placement

Private Placement	5 Months Ended
Private Placement	Dec. 31, 2021
Private Placement
Private Placement	Note 4 — Private Placement Simultaneously with the Initial Public Offering and full exercise underwriter’s overallotment option, the Sponsor purchased an aggregate of 528,075 10.00 5,280,750 A substantial portion of the proceeds from the sale of the Placement Units was added to the net proceeds from the Initial Public Offering held in the Trust Account. The Placement Units are identical to the Units sold in the Proposed Offering, except for the placement warrants (“Placement Warrants”), as described in Note 7. If the Company does not complete a Business Combination within the Combination Period, the proceeds from the sale of the Placement Units will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Placement Warrants underlying the Placement Units will expire worthless.

Related Party Transactions

Related Party Transactions	5 Months Ended
Related Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Note 5 — Related Party Transactions Class B Ordinary shares During the period ended December 31, 2021, the Company issued an aggregate of 2,875,000 25,000 20 On August 16, 2021, our sponsor purchased 2,875,000 25,000 0.009 assigned 5,000 2,500 The initial shareholders have agreed not to transfer, assign or sell any of the Class B ordinary shares (except to certain permitted transferees) until, with respect to 50% of the Class B ordinary shares, the earlier of (i) six months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect to the remaining 50% of the Class B ordinary shares, upon six months after the date of the consummation of a Business Combination, or earlier, in each case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property Promissory Note — Related Party On August 6, 2021, the Sponsor issued an unsecured promissory note to the Company, pursuant to which the Company may borrow up to an aggregate principal amount of $ 300,000 88,542 Related Party Loans In order to finance transaction costs in connection with a Business Combination, the Company’s Sponsor or an affiliate of the Sponsor, or the Company’s officers and directors may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). Such Working Capital Loans would be evidenced by promissory notes. The notes would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $ 1,500,000 10.00 ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 5 — Related Party Transactions (Continued) Administrative Support Agreement Commencing on the date of the prospectus and until completion of the Company’s Business Combination or liquidation, the Company may reimburse Energem LLC, the Sponsor, up to an amount of $ 10,000

Commitments and Contingencies

Commitments and Contingencies	5 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 — Commitments and Contingencies Registration Rights The holders of the insider shares, as well as the holders of the Placement Units (and underlying securities) and any securities issued in payment of Working Capital Loans made to the Company, will be entitled to registration rights pursuant to an agreement on the effective date of Public Offering. The holders of a majority of these securities are entitled to make up to two demands that the Company register such securities. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the Public Offering. The holders of the majority of the insider shares can elect to exercise these registration rights at any time commencing three months prior to the date on which these shares of ordinary shares are to be released from escrow. The holders of a majority of the Placement Units (and underlying securities) and securities issued in payment of working capital loans (or underlying securities) can elect to exercise these registration rights at any time after the Company consummates a Business Combination. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to the consummation of a Business Combination. Notwithstanding anything to the contrary, the underwriters (and/or their designees) may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the Public Offering. The Company will bear the expenses incurred in connection with the filing of any such registration statements. Notwithstanding anything to the contrary, under FINRA Rule 5110, the underwriters and/or their designees may only make a demand registration (i) on one occasion and (ii) during the five-year period beginning on the effective date of the registration statement relating to the Public Offering, and the underwriters and/or their designees may participate in a “piggy-back” registration only during the seven-year period beginning on the effective date of the registration statement relating to the Public Offering. Underwriters Agreement The Company granted the underwriter a 45-day option to purchase up to 1,500,000 The underwriter was paid a cash underwriting discount of two percent ( 2.00 2,300,000 3.50 4,025,000 Right of First Refusal For a period beginning on the closing of the Initial Public Offering, and ending 18 months from the closing of a business combination, we have granted EF Hutton, division of Benchmark Investments, LLC a right of first refusal to act as lead-left book running manager and lead left manager for any and all future private or public equity, convertible and debt offerings during such period. In accordance with FINRA Rule 5110(g)(6)(A), such right of first refusal shall not have a duration of more than three years from the effective date of the registration statement of which this prospectus forms a part. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS

Shareholders_ Equity

Shareholders’ Equity	5 Months Ended
Shareholders’ Equity	Dec. 31, 2021
Equity [Abstract]
Shareholders’ Equity	Note 7 – Shareholders’ Equity Preferred Shares 1,000,000 0.0001 no Class A Ordinary shares 479,000,000 shares of Class A ordinary shares with a par value of $ 0.0001 per share. Holders of the Company’s Class A ordinary shares are entitled to one vote for each share. At December 31, 2021, there were 528,075 Class A ordinary shares issued and outstanding excluding 11,500,000 Class B Ordinary shares — 20,000,000 0.0001 2,875,000 25,000 0.009 12,500 Chief Financial Officer and three independent director nominees. 2,875,000 20 Warrants five years ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 7 – Shareholders’ Equity (Continued) The Company may call the Warrants for redemption, in whole and not in part, at a price of $ 0.01 ● at any time while the Warrants are exercisable, ● upon not less than 30 ● if, and only if, the reported last sale price of the ordinary shares equals or exceeds $ 18 20 30 ● if, and only if, there is a current registration statement in effect with respect to the ordinary shares underlying such warrants at the time of redemption and for the entire 30-day trading period referred to above and continuing each day thereafter until the date of redemption. The Placement Warrants will be identical to the Public Warrants underlying the Units being sold in the Offering, except that so long as the Placement Warrants are held by our sponsor or its permitted transferees, (i) the will not be redeemable by us, (ii) they (including the Class A ordinary shares issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by our sponsor until 30 If the Company calls the Warrants for redemption, management will have the option to require all holders that wish to exercise the Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of ordinary shares issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a share dividend, extraordinary dividend or recapitalization, reorganization, merger, or consolidation. However, the warrants will not be adjusted for issuances of ordinary shares at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period, subject to extension, as provided in our registration statement, and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with respect to such warrants. Accordingly, the warrants may expire worthless. The exercise price is $ 11.50 the Company issues additional shares of Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary shares (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial Business Combination on the date of the consummation of our initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below under “Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price

Subsequent Events

Subsequent Events	5 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Note 8 – Subsequent Events In accordance with ASC Topic 855, “Subsequent Events”, which establishes general standards of accounting for and disclosure of events that occur after the balance sheet date but before financial statements are issued, the Company has evaluated all events or transactions that occurred up to the date the audited financial statements were available to issue. Based upon this review, the Company did not identify any subsequent events that would have required adjustment or disclosure in the financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	5 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements are presented in U.S. Dollars and conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued)
Emerging Growth Company	Emerging Growth Company The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and shareholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934 (the “Exchange Act”)) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.
Risks and Uncertainties	Risks and Uncertainties Management is currently evaluating the impact of the COVID-19 pandemic on the industry and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations, and/or search for a target company, the specific impact is not readily determinable as of the date of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. The Company had $ 715,727 no Cash held in Trust Account At December 31, 2021, the Company had $ 116,726,349 ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) Offering Costs associated with an Initial Public Offering The Company complies with the requirements of the Financial Accounting Standards Board ASC 340-10-S99-1 and SEC Staff Accounting Bulletin (“ SAB Expenses of Offering 4,279,871 4,025,000 Class A ordinary shares subject to possible redemption The Company accounts for its ordinary shares subject to possible redemption in accordance with the guidance enumerated in ASC 480 “ Distinguishing Liabilities from Equity
Income Taxes	Income Taxes The Company complies with the accounting and reporting requirements of ASC Topic 740, “Income Taxes,” which requires an asset and liability approach to financial accounting and reporting for income taxes. Deferred income tax assets and liabilities are computed for differences between the financial statement and tax bases of assets and liabilities that will result in future taxable or deductible amounts, based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Valuation allowances are established, when necessary, to reduce deferred tax assets to the amount expected to be realized. ASC Topic 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more-likely-than-not to be sustained upon examination by taxing authorities. The Company’s management determined the United States is the Company’s only major tax jurisdiction. The Company recognizes accrued interest and penalties related to unrecognized tax benefits, if any, as income tax expense. There were no unrecognized tax benefits as of December 31, 2021 and no amounts accrued for interest and penalties. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. There is currently no taxation imposed on income by the Government of the Cayman Islands. In accordance with Cayman income tax regulations, income taxes are not levied on the Company. Consequently, income taxes are not reflected in the Company’s financial statements. The Company’s management does not expect that the total amount of unrecognized tax benefits will materially change over the next twelve months. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued) The provision for income taxes was deemed to be immaterial for the period from August 6, 2021 (inception) through December 31, 2021.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentration of credit risk consist of a cash account in a financial institution which, at times may exceed the Federal depository insurance coverage of $250,000 465,727
Net Loss Per Share	Net Loss Per Share The Company complies with accounting and disclosure requirements of ASC Topic 260, “Earnings Per Share”. Net loss per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding during the period, excluding ordinary shares subject to forfeiture. On December 31, 2021, the Company did not have any dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted loss per share is the same as basic loss per share for the period presented. ENERGEM CORP. NOTES TO FINANCIAL STATEMENTS Note 2 — Summary of Significant Accounting Policies (Continued)
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurements and Disclosures,” approximates the carrying amounts represented in the accompanying balance sheet, primarily due to their short-term nature.
Recently Issued Accounting Standards	Recently Issued Accounting Standards Management does not believe that any recently issued, but not yet effective, accounting pronouncements, if currently adopted, would have a material effect on the Company’s financial statements.

Description of Organization a_2

Description of Organization and Business Operations (Details Narrative) - USD ($)	Nov. 18, 2021	Nov. 16, 2021	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Gross proceeds from private placement			$ 5,280,750
Proceeds from stock offering and private placements	$ 116,725,000
Cash held outside of Trust Account	$ 1,002,730
Cash			715,727
Working capital deficit			$ 570,819
Minimum market value net asset held in Trust Account, percentage			80.00%
Minimum post-business combination ownership			50.00%
Minimum net tangible asset upon consummation of business combination			$ 5,000,001
Interest to pay dissolution expenses			$ 100,000
Sponsor [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of Stock, Price Per Share			$ 10.15
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction		10,000,000	11,500,000
Sale of Stock, Price Per Share		$ 10	$ 10
Proceeds from Issuance Initial Public Offering		$ 100,000,000
Payments of stock issuance costs		8,304,871
Payments for underwriting expense		$ 4,025,000
Over-Allotment Option [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction	1,500,000	1,500,000
Sale of Stock, Price Per Share	$ 10		$ 0.10
Gross proceeds from sale of options	$ 15,000,000
Over-Allotment Option [Member] \| Maximum [Member]
Subsidiary, Sale of Stock [Line Items]
Deposits			$ 1,150,000
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction	475,575
Sale of Stock, Price Per Share	$ 10		$ 10
Gross proceeds from private placement	$ 4,755,750		$ 5,280,750
Private Placement [Member] \| Sponsor [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction	52,500
Sale of Stock, Price Per Share	$ 10
Gross proceeds from private placement	$ 5,280,750

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative)	5 Months Ended
	Dec. 31, 2021USD ($)
Accounting Policies [Abstract]
Cash	$ 715,727
Cash equivalents	0
Marketable securities	116,726,349
Deferred offering costs	4,279,871
Deferred underwriting commission	4,025,000
Federal depository insurance coverage amount	250,000
Amount subject to risk	$ 465,727

Public Offering (Details Narrat

Public Offering (Details Narrative) - $ / shares	Nov. 16, 2021	Dec. 31, 2021
IPO [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, number of shares issued in transaction	10,000,000	11,500,000
Sale of stock, price per share	$ 10	$ 10
Sale of stock, description of transaction		Each Unit consists of one ordinary share and one redeemable warrant (“Public Warrant”) Each Public Warrant will entitle the holder to purchase one ordinary share at an exercise price of $11.50 per whole share
Public Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Sale of stock, price per share		$ 11.50

Private Placement (Details Narr

Private Placement (Details Narrative) - USD ($)	Nov. 18, 2021	Dec. 31, 2021
Subsidiary, Sale of Stock [Line Items]
Proceeds from Issuance of Private Placement		$ 5,280,750
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Partners' Capital Account, Units, Sold in Private Placement		528,075
Sale of Stock, Price Per Share	$ 10	$ 10
Proceeds from Issuance of Private Placement	$ 4,755,750	$ 5,280,750

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Sep. 07, 2021	Aug. 16, 2021	Dec. 31, 2021	Aug. 06, 2021
Related Party Transaction [Line Items]
Purchase price			$ 115,000,000
Shares issued price per share		$ 0.009	$ 18
Related party transaction description			The initial shareholders have agreed not to transfer, assign or sell any of the Class B ordinary shares (except to certain permitted transferees) until, with respect to 50% of the Class B ordinary shares, the earlier of (i) six months after the date of the consummation of a Business Combination, or (ii) the date on which the closing price of the Company’s ordinary shares equals or exceeds $12.00 per share (as adjusted for share splits, share dividends, reorganizations and recapitalizations) for any 20 trading days within any 30-trading day period commencing after a Business Combination, with respect to the remaining 50% of the Class B ordinary shares, upon six months after the date of the consummation of a Business Combination, or earlier, in each case, if, subsequent to a Business Combination, the Company consummates a subsequent liquidation, merger, share exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their ordinary shares for cash, securities or other property
Due to Related Parties, Current			$ 88,542
Promisory Note [Member] \| Sponsor [Member]
Related Party Transaction [Line Items]
Debt Instrument, Face Amount				$ 300,000
Due to Related Parties, Current			88,542
Cu Seng Kiu [Member]
Related Party Transaction [Line Items]
Shares issued to officers	5,000	2,500
Related Party Loans [Member]
Related Party Transaction [Line Items]
Maximum loans convertible into warrants			$ 1,500,000
Related Party Loans [Member] \| Working Capital Loans Warrant [Member]
Related Party Transaction [Line Items]
Price of warrant			$ 10
Office Space Administrative and Support Services [Member] \| Sponsor [Member]
Related Party Transaction [Line Items]
Related party, amount of transaction			$ 10,000
Common Class B [Member]
Related Party Transaction [Line Items]
Number of shares issued		2,875,000	2,875,000
Purchase price		$ 25,000	$ 25,000
Own percentage			20.00%

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - Underwriters Agreement [Member]	5 Months Ended
	Dec. 31, 2021USD ($)shares
Other Commitments [Line Items]
Option to purchase shares \| shares	1,500,000
Underwritting Discount [Member]
Other Commitments [Line Items]
Percentage of underwriting discount	2.00%
Proceeds from intial public offering	$ 2,300,000
Underwritting Deferred Fee [Member]
Other Commitments [Line Items]
Proceeds from intial public offering	$ 4,025,000
Percentage of gross offering proceeds payable	3.50%

Shareholders_ Equity (Details N

Shareholders’ Equity (Details Narrative) - USD ($)	Sep. 07, 2021	Aug. 16, 2021	Dec. 31, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Preferred Stock, Shares Authorized			1,000,000	1,000,000
Preferred Stock, Par or Stated Value Per Share			$ 0.0001	$ 0.0001
Preferred Stock, Shares Issued			0	0
Preferred Stock, Shares Outstanding			0	0
Stock Issued During Period, Value, Issued for Services			$ 25,000
Warrants price			$ 0.01	$ 0.01
Shares issued price per share		$ 0.009	$ 18	18
Redemption of warrants description			the Company issues additional shares of Class A ordinary shares or equity-linked securities for capital raising purposes in connection with the closing of our initial Business Combination at an issue price or effective issue price of less than $9.20 per share of Class A ordinary shares (with such issue price or effective issue price to be determined in good faith by our board of directors and, in the case of any such issuance to our sponsor or its affiliates, without taking into account any founder shares held by our sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of our initial Business Combination on the date of the consummation of our initial Business Combination (net of redemptions), and (z) the volume weighted average trading price of our Class A ordinary shares during the 20 trading day period starting on the trading day prior to the day on which we consummate our initial Business Combination (such price, the “Market Value”) is below $9.20 per share, then the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the greater of the Market Value and the Newly Issued Price, and the $18.00 per share redemption trigger price described below under “Redemption of warrants” will be adjusted (to the nearest cent) to be equal to 180% of the greater of the Market Value and the Newly Issued Price
Public Warrant [Member]
Class of Stock [Line Items]
Sale of stock, price per share			$ 11.50	$ 11.50
Warrant [Member]
Class of Stock [Line Items]
Redemption period			5 years
Warrants and rights outstanding term			30 days	30 days
Warrant [Member] \| Minimum [Member]
Class of Stock [Line Items]
Trading period after business combination used to measure dilution of warrant			20 days
Warrant [Member] \| Maximum [Member]
Class of Stock [Line Items]
Trading period after business combination used to measure dilution of warrant			30 days
Chief Financial Officer and Three Independant [Member]
Class of Stock [Line Items]
Number of shares issued to officers	12,500
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized			479,000,000	479,000,000
Common stock, par or stated value per share			$ 0.0001	$ 0.0001
Common Stock, Shares, Issued			528,075	528,075
Common Stock, Shares, Outstanding			528,075	528,075
Redemption of ordinary shares				11,500,000
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized			20,000,000	20,000,000
Common stock, par or stated value per share			$ 0.0001	$ 0.0001
Common Stock, Shares, Issued			2,875,000	2,875,000
Common Stock, Shares, Outstanding			2,875,000	2,875,000
Equity Method Investment, Ownership Percentage			20.00%	20.00%
Common Class B [Member] \| Sponsor [Member]
Class of Stock [Line Items]
Common Stock, Shares, Issued			2,875,000	2,875,000
Common Stock, Shares, Outstanding			2,875,000	2,875,000
Common Class B [Member] \| Sponsor [Member] \| Founder Shares [Member]
Class of Stock [Line Items]
Common stock, par or stated value per share		$ 0.009
Stock Issued During Period, Shares, Issued for Services		2,875,000
Stock Issued During Period, Value, Issued for Services		$ 25,000