We are pleased to announce the successful IPO of Carbon Revolution, which commences trading on the ASX on 4 December 2019. $90 million was raised under the IPO to allow Carbon Revolution to invest in new manufacturing equipment as well as fund R&D initiatives. This gives Carbon Revolution an indicative market capitalization of $331 million.
Carbon Revolution is an Australian-based advanced manufacturing company, which was established in Geelong in 2007 to develop and commercialise single piece carbon fibre wheel technology. Carbon Revolution is the only company globally to have successfully developed and manufactured single piece carbon fibre automotive wheels to Original Equipment Manufacturers standards with commercial adoption by several car makers.
The IPO is a great achievement for the Carbon Revolution team in a very challenging domestic IPO market.