Vertex Material has announced a 15-year offtake agreement with US-based Sky-Dweller Construction LLC, valued at approximately US$2.2 billion over the contract period. The deal extends the companies’ existing North American distribution arrangement to India, where Sky-Dweller plans to market Vertex’s copper-composite products.
The agreement is intended to provide a commercial foundation for Vertex’s planned manufacturing expansion. Sky-Dweller is part of Aurelius Materials, an international construction-materials procurement and sourcing platform that will support customer development, supplier coordination, procurement and logistics.
The signing ceremony took place at W Kuala Lumpur, with representatives from the companies and invited guests from government, capital markets and industry. Speakers included Malaysia’s Minister of Science, Technology and Innovation, Datuk Chang Lih Kang, and Nasdaq Vice Chairman Bob McCooey.
Vertex CEO Chris Lai said the India expansion would broaden the company’s commercial opportunities and strengthen the case for its planned US facility.
“Our task is to turn the material we have developed here in Malaysia into products that global manufacturers can readily adopt,” Lai said. “This US$2.2 billion offtake provides a solid foundation for that next stage.”
The partners are targeting industrial manufacturing, electrical and energy infrastructure, and electronics thermal-management applications in India. Copper demand in the country rose 12% year-on-year to around 2.1 million tonnes in fiscal 2026, according to figures cited by the India Brand Equity Foundation from the International Copper Association India.
Vertex says its copper-composite materials are designed for applications where they can meet specified electrical, thermal and mechanical requirements while using less pure copper than conventional materials. The company identifies data-centre cooling systems, electronics, electrical components and metal plating as potential applications.
The announcement comes amid concerns over future copper supply. The International Energy Agency’s Global Critical Minerals Outlook 2026 projects that expected mine supply from existing and announced projects could fall about 25% short of primary copper requirements by 2035.
Vertex is also assessing sites and incentives in Arizona with the Greater Phoenix Economic Council for a proposed large-scale manufacturing facility. The company is targeting commercial production from 2028, with eventual annual capacity of one million metric tonnes. The project remains subject to site selection, financing and regulatory approvals, and the capacity target would require phased expansion.
Vertex said it has an enterprise valuation of approximately US$7 billion, based on a report prepared by a Malaysian accounting firm. It is targeting a proposed direct listing on Nasdaq in 2027, subject to regulatory requirements and approvals.
