Carbon Revolution Limited

Based in Australia, Carbon Revolution Limited designs and manufactures lightweight carbon fiber wheels for the automotive sector, aiming to enhance vehicle performance and efficiency through innovative engineering. Carbon Revolution Limited specializes in creating carbon fiber wheels for the automotive industry. Founded in 2007 in Geelong, Australia, by Ashley Denmead, the company has successfully executed 4 deals, with the most recent funding round occurring on November 29, 2019. In this round, Carbon Revolution raised USD 60.

00 mn through VENTURE DEBT, bringing its total funds raised to USD 90. 10 mn. Currently led by CEO Jake Dingle, the company has pursued strategic growth through partnerships and innovations in wheel technology. Carbon Revolution specializes in the design and manufacturing of lightweight carbon fiber wheels for the automotive industry.

Their offerings include high-performance wheels that significantly reduce weight compared to conventional aluminum alternatives, enhancing vehicle acceleration, braking, and handling. Utilizing advanced manufacturing processes and proprietary technologies like their patent-pending Diamond Weave Technology™, Carbon Revolution serves the performance and premium segments of the automotive market, partnering with brands such as Ford, Ferrari, General Motors, Jaguar Land Rover, and Renault. Their products are globally distributed, with a robust presence in North America, Europe, and select Asian markets, catering to both OEM clients and high-performance automotive enthusiasts. In 2022, Carbon Revolution reported a revenue of USD 29.

26 mn, alongside an EBITDA of USD -19. 18 mn. The company generates revenue through direct partnerships with OEMs and automotive manufacturers, supplying customized wheel solutions for bulk production. The contracts established with clients allow for ongoing collaboration on innovative wheel designs, thus securing a consistent revenue stream from these business-to-business transactions.

Carbon Revolution Limited is poised to expand its operations following a merger with Twin Ridge Capital Management, expected to close in the first half of 2023, which will rebrand the entity as Carbon Revolution plc on NASDAQ. The new entity will have a pro-forma equity value of USD 461 mn and will utilize the proceeds from this transaction to support the development of new products and to enhance its operational capabilities. The company aims to strengthen its market presence by launching advanced wheel designs and penetrating new geographic markets as it continues to innovate in carbon fiber technology.