Core Points - Carbon Revolution plc, a leading manufacturer of lightweight carbon fiber wheels, announced the release of an additional US$5 million from a previously announced US$25 million facility, bringing the total released to US$15 million [1][2] - The company also received a further US$400,000 from existing loan reserves, increasing the total reserves released to US$1.2 million out of an agreed US$2 million [1][2] - The funding is aimed at supporting the company's liquidity and meeting the demand from OEM customers, with new programs expected to enter production soon [2] Financial Overview - The total additional funding from Orion Infrastructure Capital and existing noteholders amounts to US$27 million [2] - The company has not guaranteed the ability to receive the remaining US$10 million from the US$25 million facility [2] Company Background - Carbon Revolution plc is the parent company of Carbon Revolution Pty Ltd, which specializes in the advanced manufacture of carbon fiber wheels for the automotive industry [4] - The company has transitioned from producing single prototypes to manufacturing lightweight wheels for high-performance, premium, and luxury vehicles for prestigious automotive brands [4]
Carbon Revolution Secures Further Release of $5m Million from OIC and further $0.4 Million Reserve Release from Existing Lenders