Carbon revolution secures further funding of $5 million from oic, reports cancellation of two ev wheel programs

Geelong, australia, oct. 31, 2025 (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 it has reached agreement with orion infrastructure capital (“oic”) to provide a further up to us$7 million of funding. the company also reports the cancellation of two electric vehicle (“ev”) wheel programs, which is consistent with the weakening of demand across the broader ev market.
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