Carbon Revolution Secures Further Release of $5 Million from OIC

Core Points - Carbon Revolution plc, a leading manufacturer of lightweight automotive carbon fiber wheels, announced the release of the full US$35 million escrowed facility from OIC, which will support operations and capacity investments [1][2][3] - The company is in discussions with OIC for potential additional funding of up to US$40 million for future manufacturing facility or upgrades, contingent on meeting performance milestones [3] Group 1 - The release of US$5 million completes the total US$35 million funding from OIC, which was initially escrowed during the business combination closure in November 2023 [1][3] - The proceeds from the OIC investment will be utilized for operational funding and capacity expansion in the near term [2] - Carbon Revolution is currently exploring additional financing options with OIC to address liquidity needs and support ongoing operations [3] Group 2 - Carbon Revolution plc is the parent company of Carbon Revolution Pty Ltd, which specializes in the advanced manufacturing of carbon fiber wheels for high-performance and luxury automotive segments [4] - The company has transitioned from prototype development to mass production of lightweight wheels for prestigious automotive brands globally [4]