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Carbon Revolution Public Limited Company - CREV STOCK NEWS

Welcome to our dedicated page for Carbon Revolution Public Company news (Ticker: CREV), a resource for investors and traders seeking the latest updates and insights on Carbon Revolution Public Company stock.

Carbon Revolution Public Limited Ordinary Shares (symbol: CREV) represents a cutting-edge Australian technology company specializing in the manufacturing of advanced carbon fiber wheels. As a leader in lightweight wheel technology, Carbon Revolution supplies these innovative products to Original Equipment Manufacturers (OEMs) across the globe. Their clientele includes prestigious and high-performance automotive brands such as Ford, Ferrari, General Motors, Jaguar Land Rover, and Renault.

The company's core business revolves around producing carbon fiber wheels that are significantly lighter and more efficient compared to traditional aluminum wheels. These wheels are designed for luxury cars, sports vehicles, SUVs, and increasingly, electric vehicles. The reduction in weight not only enhances vehicle performance but also contributes to better fuel efficiency and compliance with stringent environmental regulations.

Recently, Carbon Revolution has achieved notable milestones, including the successful integration of their 23-inch wheels in the Range Rover Sport SV model. Automotive journalists have praised these wheels for markedly improving the vehicle's ride, handling, and noise, vibration, and harshness (NVH) levels. This innovation saves over 70kg (more than 150 lbs) in unsprung mass, significantly enhancing vehicle dynamics.

Another significant achievement is the adoption of Carbon Revolution’s wheels in the 2024 General Motors Corvette E-Ray, marking a historic collaboration in the hybrid electric segment. The E-Ray's five-spoke carbon fiber wheels reduce the vehicle's unsprung weight by 41 pounds, offering superior handling and braking performance.

Despite the significant revenue growth reported in the fiscal first half of 2024, which saw a 107% year-over-year increase to US$26.1 million, the company faces financial challenges. As of March 31, 2024, Carbon Revolution reported limited liquidity and is actively seeking additional funding sources, including negotiations for the early release of funds held in escrow and support from debt providers.

The company has earned industry-wide recognition, winning prestigious awards for their innovative contributions to the automotive sector. This recognition underscores their commitment to pushing the boundaries of automotive technology.

With ongoing projects and expanding production capabilities, Carbon Revolution is poised to continue its growth trajectory, driven by the increasing demand for its lightweight, high-performance wheels in the global automotive market.

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Carbon Revolution (Nasdaq: CREV), a leading global manufacturer of lightweight carbon fiber wheels, announced the release of an additional $5 million from a $35 million financing facility. This brings the total released amount to $20 million. The company issued a warrant to OIC, allowing it to purchase 2.5% of Carbon Revolution's outstanding shares. The funds will support increasing production capacity and meeting growing OEM customer demand. Carbon Revolution is investing heavily in production and achieving record output rates.

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Carbon Revolution (Nasdaq: CREV), a leading manufacturer of automotive carbon fiber wheels, has secured a $25 million financing agreement with Orion Infrastructure Capital (OIC). The funding will be released in five $5 million tranches, contingent on meeting certain reserve conditions. Each tranche will involve issuing OIC a warrant to purchase 2.5% of the company's outstanding shares. The funds are aimed at supporting the company's growth to meet increasing demand from OEM customers and enhance production capacity. CEO Jake Dingle highlighted the importance of the capital for addressing the business backlog and expansion.

OIC's Chris Leary expressed confidence in Carbon Revolution's innovative technology and its value to automotive OEMs. The agreement follows Carbon Revolution's recent recognition at the Automotive Pace Awards for innovation and performance.

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Carbon Revolution, a leading manufacturer of lightweight automotive carbon fiber wheels, has appointed Alia Comai as Chief Revenue Officer. With over 25 years of experience in the automotive sector, Comai will lead the company's sales organization and develop global strategic partnerships. Comai previously served as Vice President and General Manager - North America at Questar and has held leadership roles at Neapco Electronics Technology and Ofilm USA. CEO Jake Dingle praised her proven track record in driving revenue expansion and strategic partnerships.

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Carbon Revolution (Nasdaq: CREV), a leading global manufacturer of carbon fiber wheels, announced an agreement with Orion Infrastructure Capital (OIC) for the early release of an additional $5 million from the remaining $30 million in escrow. This release is part of a $110 million Structured Equity Facility. Following this release, Carbon Revolution holds approximately $6.1 million in unrestricted cash and $4.9 million in a restricted trust fund. The company is also negotiating with OIC for the release of the remaining $25 million. There is no certainty that these negotiations will result in further releases.

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Carbon Revolution plc (Nasdaq: CREV) won two prestigious awards at the 2024 Automotive News PACE ceremony for its innovation as a Tier 1 supplier of lightweight carbon fiber wheels and collaboration with General Motors. The company's carbon fiber wheels are up to 40-50% lighter than aluminum wheels and are supplied to global OEMs like GM, Ford, Ferrari, Renault, and Jaguar Land Rover.

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Carbon Revolution plc (Nasdaq: CREV) announces an agreement with Orion Infrastructure Capital for an early release of US$5 million from escrow, record revenue results for the first half of fiscal 2024, and a preliminary estimate for fiscal 3Q 2024 revenue.
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Carbon Revolution plc (Nasdaq: CREV) achieved record half-year revenue of US$26.1 million, up 107% year-over-year, with 12.8k wheels sold. Quarterly revenue in 2Q24 reached US$14.8 million, up 177% year-over-year. The company faces liquidity, prompting discussions for additional finance. Preliminary estimate for fiscal 3Q 2024 is $10 to $11 million, showing a 110% increase from the prior year.
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Carbon Revolution plc (CREV) to discuss fiscal first half 2024 results with analysts. The company reported $14.8 million in revenue for the second fiscal quarter, up 177% year-over-year.
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Carbon Revolution plc (Nasdaq: CREV) announces CEO's participation in the Emerging Growth Conference, following strong revenue growth of 177% year-over-year in Q2 and 42% for the year ended December 31, 2023.
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Carbon Revolution plc (Nasdaq: CREV) CEO to present at Webull Corporate Connect Technology Investment Webinar after exceeding revenue expectations in fiscal second quarter, showcasing a 177% year-over-year increase to US$14.8 million. Annual revenue for 2023 rose by 42% to US$40.3 million, highlighting the company's innovation and strong market demand for its carbon fiber wheels.
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FAQ

What does Carbon Revolution specialize in?

Carbon Revolution specializes in manufacturing advanced carbon fiber wheels for luxury, high-performance, and electric vehicles.

Who are Carbon Revolution’s main clients?

Carbon Revolution supplies wheels to major OEMs such as Ford, Ferrari, General Motors, Jaguar Land Rover, and Renault.

What recent achievements has Carbon Revolution made?

Recent achievements include integrating their wheels into the Range Rover Sport SV and the 2024 General Motors Corvette E-Ray, receiving significant industry praise.

How does Carbon Revolution’s technology benefit vehicles?

Their carbon fiber wheels reduce unsprung mass, improving fuel efficiency, ride quality, and handling compared to traditional aluminum wheels.

What financial challenges is Carbon Revolution currently facing?

As of March 31, 2024, the company has limited liquidity and is negotiating for additional funding sources to support its operations.

What awards has Carbon Revolution received?

Carbon Revolution has earned industry recognition for its innovative contributions, including prestigious global auto industry awards.

What are the future prospects for Carbon Revolution?

The company is poised for growth with expanding production capabilities and increasing demand for its lightweight, high-performance wheels.

How much did Carbon Revolution's revenue grow in the first half of fiscal 2024?

Revenue grew 107% year-over-year to US$26.1 million in the first half of fiscal 2024.

What improvements do Carbon Revolution wheels bring to electric vehicles?

Their wheels can increase the range of electric vehicles by up to 5%-10% due to their lightweight and efficient design.

What is the impact of Carbon Revolution's wheels on vehicle performance?

Their lightweight wheels improve vehicle dynamics, reduce NVH, and enhance braking and steering performance.

Carbon Revolution Public Limited Company

Nasdaq:CREV

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