Carbonxt-Group-A-High-Growth-Cleantech-Company-to-Keep-an-Eye-on

Carbonxt: A High-Growth Cleantech Company to Keep an Eye on

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Carbonxt Group Ltd (CG1) (Carbonxt or “Company”) is one of the few ASX-listed cleantech companies. It is a United States-focused company producing advanced carbon products. It innovates activated carbon solutions and services for partner utility companies. Carbonxt’s activated carbon products focus on eliminating toxic compounds from industrial wastewater steams and gases to reduce pollution and corrosion.

A Trip Down Memory Lane – Carbonxt

Launched in 2006, Carbonxt first identified mercury from coal power plants as a market for the Company’s activated carbon products and began efforts toward this application. In the subsequent years, after heavy R&D efforts, Carbonxt successfully tailored its products to suit individual customers’ requirements, that is, individual customers’ mercury emission levels.

In 2010, Carbonxt initiated testing of their oxidizing, non-brominated formula and developed a full-scale field-testing program by 2012. As a result of this, Carbonxt was able to develop strategic partnerships focused on their activated carbon products since 2013.

Since then, Carbonxt has continued the development of unique products and entered several markets away from mercury capture. Carbonxt now focuses on developing premium engineered sorbents that utilize proprietary manufacturing methods to develop environmental solutions singular to each customer. The company now has a comprehensive portfolio that is dedicated to helping companies meet environmental compliance guidelines.

Product Portfolio – Carbonxt

Carbonxt’s high-performance activated carbon products are dedicated to helping their partners meet environmental compliance guidelines. Carbonxt offers solutions in five primary industries.

  • Coal-fired power plants

Product-Portfolio

Carbonxt’s products can be used in coal-fired power plants.

Carbonxt’s customized powdered activated carbons are designed to remove mercury from the plant’s aqueous or gaseous sources. Carbonxt features five unique products for this industry: MATS-PAC, MATS-PAC Plus, MATS-PAC HgZERO, Cxt-WetJect™, and Cxt-NAQ-ACP. All the products include Carbonxt’s patented oxidizing additive.

  • Cement plants

Carbonxt Group Ltd (CG1) services include a customized activated carbon solution for cement plants. The CEM-PAC line is engineered keeping in mind the cement plant’s CISWI and NESHAP compliances. The line includes two products, CEM-PAC and CEM-PAC Plus. Both are non-halogenated additive powders that are suited for high-mercury concentration environments.

Cement-plants

Equipment

  • Industrial boilers and incinerators

Carbonxt’s product line for industrial boilers and incinerators is designed to keep the compliance requirements at these plants in mind. Carbonxt’s MACT-PAC is engineered from waste-to-energy plants. The non-halogenated oxidized powdered activated carbon permits rapid adsorption and removal of mercury.

  • Water

Carbonxt’s powdered activated carbons are designed to remove compounds that give water a poor taste and odor. The product line includes three products, Cxt-BB500, Cxt-BB600, and Cxt-Aqua+. The three products are ANSI/NSF Standard 61 certified and meet the AWWA B600 specifications.

Water

Water Treatment

  • VOCs and hydrogen sulfide

Volatile organic compounds (VOCs) and hydrogen sulfide from gas streams can be controlled with Carbonxt Group Ltd’s (CG1) product range. The products for this industry are manufactured in the United States. The Company offers two products: Cxt-ACP60 and Cxt-ACP80. Both are high-quality activated carbon sorbents for industrial gas purification.

Carbonxt and Managing Director Warren Murphy

Warren-Murphy

Warren Murphy: the Managing Director of Carbonxt

Managing Director Warren Murphy has a comprehensive experience in the energy, resources, and infrastructure sectors. He has led several acquisitions in his previous roles and has overseen the development of over 2,000 MW of power stations and the acquisition of over 3,000 MW of generation.

Before serving as the Managing Director at Carbonxt Group Ltd (CG1), he was the Co-Head of the Australian Infrastructure and Project Finance Group and Head of Energy at Babcock & Brown, Sydney. Warren Murphy has also led the launch of Infigen Energy and its predecessor Global Wind Partners. He was also a Director at Alinta Limited (ASX: AAN), Sydney Gas Limited (ASX: SGL), and Coogee Resources Limited (not listed).

Financial Outlook

Carbonxt’s share price has a 52-week range of AUD 0.110 to AUD 0.345. The average volume of Carbonxt shares is 1.1 million. The Company has issued over 189 million shares and has a market capitalization of AUD 20.8 million. Carbonxt Group Ltd (CG1) ranks 1,684 out of the 2,422 companies listed on ASX. It has a ranking of 525 in the Basic Metals sector.

Take a look at the recent activities of Carbonxt and the highlights of the June 2022 Quarterly Report:

  • Retail offer: Carbonxt announced a 1 for 4 pro-rata non-renounceable entitlement offer on 29 July 2022. Following this, Carbonxt has dispatched personalized entitlement and acceptance letters to all eligible retail shareholders. The Entitlement Offer is scheduled to close on 2 September 2022.
  • Carbonxt received AUD 4.1 million in customer receipts, an increase of 6% from the previous quarter. The growth reflects the growing customer volume and new orders for activated carbon pellets and powdered activated carbon.
  • The activated carbon pellet product’s revenue was in line with the previous quarter and 162% higher than that of powdered activated carbon. Powdered activated carbon products’ revenue was 129% higher (quarter-on-quarter) due to a new large industrial customer. Compared to the same quarter in the previous year, the revenue of the powdered activated carbon product was up by 39%. The underlying operating cash flow was an outflow of AUD 1.1 million. The staff costs increased by 19% from the previous quarter due to expanded production shifts and payroll pay date timing.
  • Carbonxt will be implementing the USD 290,000 Innovative Technology Grant awarded by the Florida Department of Environment Protection for the Company’s HydRestor technology.

Managing Director Warren Murphy commented on the quarter, “In this quarter, the focus was on the production of industrial pellets to support customer demand. With all our plants running at or near their capacity, we have been vigilant about managing costs and product delivery on acceptable margins.”

Financial-Outlook

Increase in Share Price over the Years demonstrating Carbonxt’s Growth

The Company is constantly expanding operations and is currently undertaking the development of a new manufacturing facility in Kentucky, United States. The activated carbon facility is expected to be completed in early 2023. The plant will support the company’s new sales and reduce operating costs.

Investor Outlook

Carbonxt is an ASX-listed company offering unique cleantech solutions to industrial and utility clients. Carbonxt offers 14 unique products across five industries to help customers meet compliance guidelines. High-quality sorbents help absorb toxic pollutants such as mercury, VOCs, hydrogen sulfide, and more. Carbonxt is the only US-based manufacturer of industrial pellets.

If you are interested in learning more about cleantech, visit the Carbonxt website to learn more.

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