Startup · $113.1m raised
Geelong, VIC
Every investor coverage indicates participated in a round Carbon Revolution raised.
| Investor | Rounds | Invested |
|---|---|---|
| Modern Manufacturing Initiative | Grant | $12,000,000 |
| Federal Government | Grant | - |
Investors whose own portfolio pages list Carbon Revolution, even though we haven't found any coverage of the round yet.
| Investor | Listed on |
|---|---|
| Virescent Ventures | its portfolio page ↗ |
The transaction that ended Carbon Revolution's run as a startup, per published coverage. It closes the funding history too, where it is the ladder's last rung.
| Bought by | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Twin Ridge Capital Acquisition Corporation | Merger | 2023 | - | @AuManufacturing (Fri 1 Sep 2023), @AuManufacturing (Tue 6 Jun 2023) |
Companies Carbon Revolution acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Stories naming Carbon Revolution. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Victoria's Breakthrough Victoria has committed $75m to five specialist VC funds covering climate tech, life sciences, female founders and healthcare, each pledging a quarter of its capital to local startups.
Breakthrough Victoria is putting $75 million into five venture capital funds, including Virescent, SYNthesis BioVentures, Scale and Galileo, each of which has pledged a quarter of its capital to Victorian startups.
AuManufacturing columnist Peter Roberts laments the cut-price sale of wheel maker Carbon Revolution to US backers and reports plans for Mexican production, citing Tritium's offshore shift as another local manufacturing loss.
Weekly roundup of the five most-read stories: Tritium shifting charger production to Tennessee, Carbon Revolution's NASDAQ listing, defence grants for manufacturers, a bushfire-resistant paint hitting shelves, and Cobram Estate Olives' 25-year growth.
Geelong carbon wheel maker Carbon Revolution added four US automotive directors and lined up a financing of up to US$110 million with Orion Infrastructure Capital before its expected US sharemarket debut.
Geelong carbon fibre wheel maker Carbon Revolution issues revised forecasts, reports new OEM wheel programmes and a doubled backlog, and recalls its merger with a US SPAC that recapitalised and listed it in America.
Also @AuManufacturing
News roundup: VicReturn names its first CEO, Carbon Revolution's SPAC merger is set for July, DXN wins a first modular data centre order, and Bluechiip completes a placement.
The Geelong wheel maker reports progress on its planned merger with a US SPAC and American listing, including audit work, new programmes and an estimated funding need, but no money has yet been raised.
Manufacturing roundup covering Cyclopharm's tax incentive payment, Carbon Revolution's government grant payments, CEFC's wind farm debt commitment, Adbri's land sales, a Monash energy report and a Wollongong research showcase.
Also RenewEconomy
Calix received four government funding injections in one week: grants for low-emissions lime, lithium refining and carbon capture projects with Adbri, Pilbara Minerals and Boral, plus an R&D tax incentive refund, totalling $66.19 million.
A commentator argues a $12 million federal manufacturing grant to wheel maker Carbon Revolution was unnecessary, since the Geelong company would have built its Mega production line regardless; its shares jumped on the news.
Also @AuManufacturing
Profile of Carbon Revolution's automated Mega-line expansion at its Geelong factory, noting the carbon fibre wheel maker's $95 million April raise, FY21 loss, and wheel selections by Ferrari, Ford, Renault and GM.
Roundup of Australian manufacturing news: Hemideina's $10 million raise, ARENA funding an electric bus fleet trial, Pure Hydrogen taking a stake in H2X, plus updates on Carbon Revolution, Li-S Energy and Lynas.
Carbon fibre wheel maker Carbon Revolution reported lower revenue and a FY2021 loss, citing pandemic impacts, while expanding production with new wheel programs, including Ferrari models, backed by a recently completed $95 million capital raising.
Carbon Revolution, a Geelong carbon fibre wheel maker, announced plans to raise $95 million for a new mega production line, reported Q3 FY21 growth, and disclosed OEM program agreements including electric vehicle work.
Geelong's advanced fibre cluster wins a Defence Science Institute Smart Ideas Grant, working with Carbon Revolution and Deakin University on machine learning for composite materials integrity testing.
Coronavirus disruption forces BlueScope, Boral and Cochlear to revise outlooks, while Carbon Revolution raises $25 million, Titomic $19 million, and sanitiser and infant formula exporters report surging demand.
Also @AuManufacturing
Wheel maker Carbon Revolution completed a $25 million institutional placement and announced a $3 million share purchase plan to strengthen its balance sheet against COVID-19 disruption, months after listing.
Profile of AML3D, a wire-arc additive manufacturing bureau whose founder Andy Sales credits certification focus for commercial success, with an ASX listing and a nine-million-dollar raise planned but not yet completed.
Two Australian companies press ahead with planned year-end ASX floats despite a run of collapsed listings, with fund managers commenting on IPO valuations, private equity sell-downs and market conditions.
Fifteen companies received defence innovation grants totalling $28 million through the Defence Innovation Hub, including Carbon Revolution for Chinook helicopter wheels; the Geelong firm also completed a convertible note raising in June.
Also @AuManufacturing
Former Holden chief Mark Bernhard takes a non-executive director seat at Geelong wheel maker Carbon Revolution, which recently completed a $73.4 million convertible note raising ahead of a planned ASX listing.