Carbon Revolution Public Limited Company Stock Price, News & Analysis

Carbon Revolution plc (Nasdaq: CREV), a leading manufacturer of lightweight carbon fiber wheels for automobiles, has secured an additional $5 million from OIC as part of a larger $35 million escrowed facility. This brings the total released amount to $30 million. In exchange, the company issued OIC a warrant to purchase 2.5% of its outstanding shares. The funds will support Carbon Revolution's expansion efforts to meet growing demand from OEM customers.

The company is investing heavily in capacity and throughput, achieving record production rates. Recently, Carbon Revolution announced supply agreements for carbon fiber wheels with the Chevrolet Corvette ZR1 and Edition 2 Range Rover Sport SV, highlighting its market position in the high-performance automotive sector.

Carbon Revolution plc (Nasdaq: CREV), a leading manufacturer of lightweight carbon fiber wheels, announced its supply of 23-inch carbon fiber wheels for the new Range Rover Sport SV Edition Two. These wheels contribute to a 76kg total weight reduction, improving handling, acceleration, and ride quality. The carbon fiber wheel option has been popular since its debut on the Edition One, with demand described as 'off the chart'.

CEO Jake Dingle highlighted that as wheel diameters increase, the weight savings become more significant. The wheels, built on Carbon Revolution's Mega-line, feature the company's patent-pending Diamond Weave Technology™ and are available in Satin and Gloss finishes. This announcement follows Carbon Revolution's recent wins at the 2024 Automotive News Pace Awards.

Carbon Revolution plc (Nasdaq: CREV), a leading manufacturer of lightweight advanced technology automotive carbon fiber wheels, has announced the early release of an additional $5 million from OIC's escrowed $35 million facility. This brings the total released amount to $25 million. In exchange, the Company issued OIC a warrant to purchase shares equal to 2.5% of its outstanding shares.

The funds will support Carbon Revolution's efforts to meet growing demand from OEM customers. The Company is investing heavily in capacity and throughput, achieving record wheel production rates. This news follows the recent announcement of Carbon Revolution supplying carbon fiber wheels for the newly revealed Chevrolet Corvette ZR1.

Carbon Revolution plc (Nasdaq: CREV) has announced it will supply carbon fiber wheels for the newly revealed Chevrolet Corvette ZR1. This marks the third Corvette model to feature the company's innovative wheels. The carbon fiber wheels are 42.8 lbs (19.4kg) lighter than the aluminum alternative, significantly reducing the vehicle's rotating, unsprung mass. Carbon Revolution's team utilized their Diamond Weave Technology™ and developed a unique internal fiber architecture to meet GM's high standards for strength, weight, and durability. The rear wheels, at 21 inches tall and 13 inches wide, are among the world's widest carbon fiber wheels. This collaboration follows Carbon Revolution's recent wins at the 2024 Automotive News Pace Awards, including a PACE Partner Award for their work with GM on the C8 Corvette Z06 and E-Ray wheels.

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.

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.

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.

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.

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.