Carbon Revolution plc announced the release of another US$5 million from the US$25 million facility provided by Orion Infrastructure Capital (OIC). This latest installment brings the total amount released from this facility to US$15 million. The funding is part of the agreement announced in December 2024, aimed at bolstering the company's financial position.
Concurrently, Existing Noteholders under the US$60 million PIUS loan released an additional US$400,000 from existing loan reserves. This brings the cumulative reserves released to US$1.2 million out of the total US$2 million agreed upon. These funds are critical for supporting the company's ongoing liquidity and its efforts to meet OEM customer demand.
In connection with this funding tranche, Carbon Revolution will issue penny warrants to OIC and Existing Noteholders, representing an aggregate of 5.0% of the company's shares outstanding. The company continues to pursue the remaining US$10 million of the US$25 million facility, though it has not provided assurances that it will satisfy the conditions for its receipt.
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