Published On: December 7th, 2023
Carbonxt Group Ltd (CG1) (“Carbonxt” or the “Company”) has announced that the Company has successfully raised AUD 0.6 million (before cost) through a successful placement of 10 million new fully paid ordinary shares at AUD 0.06 per share. The announcement shows the company’s continued venture towards generating investment to develop next-generation clean-tech products. This capital raise brings Carbonxt under the purview of investors interested in hedging against current market uncertainties with long-term investments in clean technology products. Carbonxt is a leading clean-tech company led by Managing Director Mr Warren Murphy in a fast-growing and incentivised Australian green-tech economy.
Share and Capital Statistics
The shares will be duly issued under the Company’s available placement capacity, as per ASX regulatory norms, on 18th December 2023. This capital raise is part of a larger target of AUD 2.94 million announced by Carbonxt Group Ltd (CG1) to bolster its active and upcoming ventures. The announcement also includes the entitlement and placement of another AUD 8.33 million shares to raise AUD 0.5 Million from Pure Asset Management. This will be duly executed in January 2024. This shows strong positives for Carbonxt which aims to become a leading brand in its sector and well in tune with the Australian clean-tech industry.
On this announcement Managing Director of Carbonxt, Mr Warren Murphy stated that
“We are pleased to confirm the successful completion of the Placement component of Carbonxt’s capital raise. The short time to completion was reflective of strong support from a network of institutional and sophisticated investors. These funds provide the Company with working capital to assist management oversee the accelerated construction activity at our flagship activated carbon production facility in Kentucky, USA. Alongside the funds from the fully-underwritten Entitlement Offer, Carbonxt will be well-capitalised to execute on its stated strategy to deliver a material uplift in production and sales once the NewCarbon facility is operational in CY2024.”
About Mr Warren Murphy, Managing Director of Carbonxt Group Limited
Mr Warren Murphy is a leading name in the global energy industry with specific domain expertise in the energy sector and corporate finance management. Mr. Warren Murphy possesses extensive experience in overseeing multiple acquisitions and financings in the energy, resources, and infrastructure sectors. With extensively impactful experiences at organisations like Sydney Gas Limited, Project Finance Group, Alinta Limited, among others, Managing Director Mr Warren Murphy is building Carbonxt Group Limited (CG1) as the go-to global brand for Advanced Carbon Products and related services.
Key Takeaways for Investors
- The company has successfully raised AUD 0.6 million through a placement of 10 million new fully paid ordinary shares at an issue price of AUD 0.06, demonstrating investor confidence
- The capital raised is part of a larger effort to secure approximately AUD 2.94 million, including a non-renounceable pro-rata Entitlement Offer, providing strategic funding for the Company’s initiatives
- Carbonxt’s Placement saw strong support from a network of institutional and sophisticated investors, indicating a broad base of confidence in the company’s prospects
- As of December 6th, 2023, the share price of Carbonxt Group Limited stood at AUD 0.068 per share
- The stock’s 52-week trading range has fluctuated between AUD 0.046 – AUD 0.100
- The company’s market capitalization was recorded at AUD 18.72 million as on 6th December,2023
About Carbonxt Group Limited and its Operational Ventures and Finances
Kentucky Carbon Processing Facility
Carbonxt is a leading global brand in the Activated Carbon Services and Products sub-sector of the clean-energy tech industry. The company has developed ground-breaking industry-ready solutions ranging from Advanced Carbon Products like Activated Carbon Pellets (AC Pellets) to Powdered Activated Carbon (PAC) among other advanced carbon technologies.
Carbonxt’s core operational ventures are focused on its state-of-the-art Activated Carbon Production (ACP) facilities located in Kentucky, US. The facility is 50%-owned by Carbonxt in partnership with Kentucky Carbon Processing (KCP) and is expected to deliver on an initial production capacity of up to 10,000 tonnes of high-grade Activated Carbon Products per year.
Coming to the key financial statistics, Carbonxt Group LTD (CG1) reported an accumulated revenue of AUD 5.3 million in last quarter and a positive operating cash flow of ~ AUD 600,000.
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