Startup · $12m raised
Geelong, VIC
Every investor coverage indicates participated in a round Carbon Revolution raised.
| Investor | Rounds | Invested |
|---|---|---|
| Federal Government | Grant | - |
| Modern Manufacturing Initiative | Grant | $12,000,000 |
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 (1 Sep 2023), @AuManufacturing (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.
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.