Carbon Revolution Secures Further Release of $5 Million from OIC as Company Launches Key Program

GEELONG, Australia, July 30, 2024 (GLOBE NEWSWIRE) -- Carbon Revolution plc (Nasdaq: CREV) (the "Company"), a Tier 1 OEM supplier and the leading global manufacturer of lightweight advanced technology automotive carbon fiber wheels, today announced that OIC has released an incremental US$5 million of the escrowed US$35 million facility early, of which, as a result of this most recent release, $25 million has been released. In connection with the release the Company issued to OIC a warrant to purchase a numb ...