Carbon Revolution

About

Carbon Revolution designs, commercializes and industrializes carbon-fiber composite wheels that halve weight versus aluminum, increase EV range 5–10%, supply OEMs including Ford, Ferrari, GM, and scale automated Mega-line production.

Mission

Carbon Revolution focuses on improving automotive efficiency, extending EV range and enhancing overall vehicle performance. The company announced it entered into a Structured Equity Facility with OIC and received initial funding of $70 million under that facility. Management described the funding as a key pillar to support the company’s long-term strategy to further expand its global footprint among leading OEMs. Carbon Revolution completed a business combination and listing on Nasdaq and effectuated a 10-to-1 share consolidation (NYSE: TRCA to Nasdaq: CREV) in connection with the closing. The announcement references total capital available in connection with the closed business combination but does not provide a consolidated total in this communication. Company and OIC statements indicate the capital partnership is intended to support continued growth and innovation in automotive efficiency and EV performance. Carbon Revolution designs, commercializes and industrializes advanced carbon fiber composite wheels that weigh up to 50% less than comparable aluminum wheels and can provide up to a 5–10% increase in EV range. The company has supplied high-performance and premium vehicles (including programs for Ford, Ferrari and GM) and currently holds 11 lightweight wheel programs awarded by four global automakers plus three additional programs under engineering contracts. Carbon Revolution is focused on expanding its footprint in the growing electric vehicle market and scaling production through further Mega-line automation and capacity expansion. The company announced a US$60 million four-year debt financing to support automation, capacity growth and working capital and to repay key existing lenders. That financing is secured by the group’s assets, including its intellectual property, and is structured to avoid equity dilution. Carbon Revolution is pursuing a US listing via a proposed SPAC merger with Twin Ridge Capital Acquisition Corp., which would result in a newly formed MergeCo whose shares are expected to trade on Nasdaq and delist CBR from the ASX.

Quick Facts