Carbon Revolution Secures Further Release of $5 Million from OIC as Company Hits Financing Milestones

Core Insights - Carbon Revolution plc has successfully released $5 million from an escrowed facility of $35 million, bringing the total released to $20 million [1] - The company issued a warrant to OIC for shares equal to 2.5% of its outstanding shares in connection with the release [1] - Proceeds from the OIC investment will support the company's efforts to meet increasing demand from OEM customers and enhance production capacity [6] Company Overview - Carbon Revolution plc is a leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, catering to high-performance, premium, and luxury automotive segments [7] - The company has transitioned from producing single prototypes to manufacturing lightweight wheels for prestigious automotive brands worldwide [7] - Carbon Revolution is focused on creating a sustainable advanced technology business that supplies its innovative wheel technology to automotive manufacturers globally [7]