Carbon Revolution Secures Further Release of $5 Million from OIC as Company Launches Key Program

Core Viewpoint - Carbon Revolution plc has successfully released an additional US$5 million from an escrowed facility, bringing the total released amount to US$25 million, which will support the company's growth and production capacity in response to increasing demand from OEM customers [1][2]. Group 1: Financial Developments - The company received an incremental US$5 million from a US$35 million escrowed facility, with a total of US$25 million now released [1]. - In connection with this release, the company issued a warrant to OIC for shares equal to 2.5% of the company's outstanding shares [1]. Group 2: Business Operations - Proceeds from the OIC investment will fund the company's efforts to meet the growing demand from OEM customers [2]. - Carbon Revolution is making significant investments in capacity and throughput, achieving record production rates of its carbon fiber wheels [2]. - The company will supply carbon fiber wheels for the newly revealed Chevrolet Corvette ZR1, indicating a strong market presence [2]. Group 3: Company Overview - Carbon Revolution plc is a leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, transitioning from prototypes to mass production for high-performance and luxury vehicles [3]. - The company aims to create a sustainable advanced technology business by supplying its lightweight wheel technology to automotive manufacturers worldwide [3].