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

Core Insights - Carbon Revolution plc has successfully released $20 million from an escrowed facility of $35 million, with a recent release of $5 million [1] - The company issued a warrant to OIC for 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 [2] Company Overview - Carbon Revolution plc is a leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels [3] - The company has transitioned from producing single prototypes to manufacturing lightweight wheels for high-performance, premium, and luxury vehicles [3] - Carbon Revolution aims to establish a sustainable advanced technology business supplying its lightweight wheel technology to automotive manufacturers worldwide [3] Investment and Growth Strategy - The company is making significant investments in capacity and throughput to produce wheels at record rates [2] - The investment from OIC is expected to facilitate the company's growth and ability to meet customer demand [2]