Carbonxt Group Ltd. ( (AU:CG1) ) just unveiled an update.
Carbonxt Group Ltd has announced a Share Purchase Plan (SPP) to raise up to $2.0 million following two successful capital raises totaling $4.02 million. The funds will support the company’s working capital and the continued development of its Kentucky facility, which has achieved mechanical completion. The facility is expected to generate initial revenues in the first half of 2025, with potential for capacity expansion. This initiative aligns with Carbonxt’s strategic focus on the growing demand for activated carbon, driven by EPA regulations and industrial needs, positioning the company for accelerated revenue growth and enhanced market expansion.
More about Carbonxt Group Ltd.
Carbonxt Group Ltd (ASX:CG1) is a cleantech company specializing in the development and marketing of specialized Activated Carbon products. These products are used for capturing contaminants in industrial processes that emit harmful pollutants. The company manufactures Powdered Activated Carbon and Activated Carbon pellets for industrial air purification, wastewater treatment, and other liquid and gas phase markets.
YTD Price Performance: -12.86%
Average Trading Volume: 176,698
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$23.7M
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