Dowsing

Carbon Revolution plc Begins Trading Today on Nasdaq Under the Symbol “CREV”

Retrieved on: 
Friday, November 3, 2023

GEELONG, Australia, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Carbon Revolution plc, parent of Carbon Revolution Limited (the “Company” or “Carbon Revolution”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced that its stock will begin trading today on Nasdaq under the symbol “CREV” following the business combination of the Company with Twin Ridge Capital Acquisition Corp. (“Twin Ridge”) today.

Key Points: 
  • GEELONG, Australia, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Carbon Revolution plc, parent of Carbon Revolution Limited (the “Company” or “Carbon Revolution”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced that its stock will begin trading today on Nasdaq under the symbol “CREV” following the business combination of the Company with Twin Ridge Capital Acquisition Corp. (“Twin Ridge”) today.
  • “We have come a long way over the last decade in developing and then further expanding the global footprint of our carbon fiber wheel technology, and we’re just getting started,” said Jake Dingle, CEO of Carbon Revolution plc.
  • “Today is a big day for Carbon Revolution as it begins to trade in the U.S. market,” said Bill Toler, Chairman of Twin Ridge.
  • Carbon Revolution has strong operating momentum having had a record sales quarter from July to September, with 24% growth over the prior quarter.

Carbon Revolution Enters Into Structured Equity Facility For Up To US$110 Million With OIC

Retrieved on: 
Monday, September 25, 2023

Carbon Revolution Limited (“Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced that Carbon Revolution Public Company Limited, a public limited company incorporated in Ireland (“Carbon Revolution plc” or “MergeCo”) has entered into a Structured Equity Facility of up to US$110 million with two fund vehicles associated with Orion Infrastructure Capital (“OIC”), a leading infrastructure investment firm: OIC Structured Equity Fund I Range, LLC and OIC Structured Equity Fund I GPFA Range, LLC.

Key Points: 
  • Carbon Revolution Limited (“Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced that Carbon Revolution Public Company Limited, a public limited company incorporated in Ireland (“Carbon Revolution plc” or “MergeCo”) has entered into a Structured Equity Facility of up to US$110 million with two fund vehicles associated with Orion Infrastructure Capital (“OIC”), a leading infrastructure investment firm: OIC Structured Equity Fund I Range, LLC and OIC Structured Equity Fund I GPFA Range, LLC.
  • The completion of this transaction will result in Carbon Revolution plc becoming the parent of Carbon Revolution and its subsidiaries and listing on an exchange in the United States.
  • The appointments become effective upon completion of the proposed combination with appointees serving on the Board of Directors of Carbon Revolution plc.
  • “OIC is excited to finalize our capital partnership with Carbon Revolution, which will support the Company’s growth plans and infrastructure expansion,” said Chris Leary, Investment Partner and Head of Infra Equity at OIC.

Stoneridge Reports Second Quarter 2023 Results

Retrieved on: 
Wednesday, August 2, 2023

Sales were adjusted to normalize the impact of electronic component spot buys recovered from customers of $4.4 million for the second quarter of 2023.

Key Points: 
  • Sales were adjusted to normalize the impact of electronic component spot buys recovered from customers of $4.4 million for the second quarter of 2023.
  • For the second quarter of 2023, Stoneridge reported gross profit of $60.5 million and adjusted gross profit of $60.9 million (23.2% of adjusted sales).
  • Second quarter operating margin decreased by 340 basis points relative to the first quarter of 2023, primarily due to higher overhead and SG&A spend.
  • A live Internet broadcast of Stoneridge's conference call regarding 2023 second quarter results can be accessed at 9:00 a.m. Eastern Time on Thursday, August 3, 2023, at www.stoneridge.com , which will also offer a webcast replay.

Carbon Revolution Carbon Fiber Wheel Backlog More Than Doubles to $680 Million since Oct 2022

Retrieved on: 
Thursday, June 8, 2023

Carbon Revolution Limited (“Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, today announced that its backlog1 has more than doubled to $680 million since October 2022 due primarily to new programs.

Key Points: 
  • Carbon Revolution Limited (“Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, today announced that its backlog1 has more than doubled to $680 million since October 2022 due primarily to new programs.
  • View the full release here: https://www.businesswire.com/news/home/20230608005504/en/
    Carbon Revolution's ultra-lightweight 23-inch carbon fiber wheels on the Range Rover Sport SV weigh an average of 41% less than conventional 23-inch cast-alloy wheels, resulting in improvements to outright performance, handling and ride quality.
  • “We are firing on all cylinders,” said Carbon Revolution CEO Jake Dingle.
  • This month, Carbon Revolution announced that it will supply the carbon fiber wheels that are featured on the 2024 Range Rover Sport SV, revealed on May 31 by JLR, the first SUV to feature Carbon Revolution’s carbon fiber wheels.

Carbon Revolution Secures US$60 Million Loan

Retrieved on: 
Wednesday, May 24, 2023

Carbon Revolution Limited (“CBR”, “Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced the establishment of a US$60 million debt financing arranged and insured by PIUS Limited LLC, a Gallagher company, and its affiliates (the “Financing”).

Key Points: 
  • Carbon Revolution Limited (“CBR”, “Carbon Revolution” or the “Company”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced the establishment of a US$60 million debt financing arranged and insured by PIUS Limited LLC, a Gallagher company, and its affiliates (the “Financing”).
  • Carbon Revolution is focused on further expanding its footprint in the rapidly growing market for electric vehicles (EVs).
  • As the global automotive industry shifts to electric power, Carbon Revolution is well positioned to capture OEM demand for weight-saving efficiency technologies.
  • “In the escalating race to achieve supreme efficiency in automotive vehicles, Carbon Revolution has designed and manufactured some of the most technologically advanced carbon fiber composite wheels, with an extensive IP portfolio spanning multiple jurisdictions,” said PIUS CEO, Joe Agiato.

FourKites Hires Veteran Leaders to Drive Growth and Customer Value as Demand Surges

Retrieved on: 
Tuesday, November 2, 2021

The new leaders join in the midst of significant growth for FourKites, the category pioneer and industry leader.

Key Points: 
  • The new leaders join in the midst of significant growth for FourKites, the category pioneer and industry leader.
  • As the largest global supply chain visibility platform, with more than 50% customer growth in the last year, FourKites tracks over 2 million shipments every day.
  • Over the last 12 months, FourKites has tracked more than 29 billion miles across 176 countries and more than 7 million facilities.
  • FourKites has brought on Dave Ellis as SVP Global Solutions, to help customers maximize the value they get from the platform.