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 number of shares equal to 2.5% of the company's shares outstanding.
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