Carbon Revolution reported the cancellation of two electrical automobile wheel packages resulting from weakening EV market demand
Carbon Revolution has secured US$5m from Orion Infrastructure Capital (OIC), with as much as US$2m extra funding doubtlessly accessible from March 2026. The carbon fibre wheel producer additionally reported the cancellation of two electrical automobile wheel packages by a buyer resulting from weakening demand within the EV market.
The US$5m was launched on 31 October in change for senior secured notes with related phrases to present notes. OIC will obtain penny warrants to buy shares equal to five% of Carbon Revolution’s excellent shares. OIC and present noteholders agreed to partial fee in sort for sure curiosity funds till July 2026, with principal repayments deferred to January 2027.
The agency is pursuing claims associated to the cancelled packages, which it had anticipated to contribute substantial wheel volumes. Carbon Revolution beforehand revised income forecasts downward in July 2025 and slowed growth plans resulting from decrease than anticipated demand.
The corporate will not be in compliance with sure Nasdaq continued itemizing necessities and submitted a plan to regain compliance. Carbon Revolution mentioned it expects to wish extra funding within the quick time period and is exploring strategic and financing choices.
SOURCE: Carbon Revolution
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