Published On: July 21st, 2023
Figure 1: Carbonxt Logo with tagline
Carbonxt Group Ltd (ASX: CG1) “(“Carbonxt” or ” the Company”) is a cleantech company that specialises in developing and marketing unique Activated Carbon products. Carbonxt recently announced the appointment of Dr Imtiaz Kathawalla as a Non-Executive Director. This onboarding signals a tuned focus on the informed development in the management and engineering at the upcoming activated carbon production facility in Kentucky, USA.
Dr Imtiaz Kathawalla brings a wealth of knowledge about the management and engineering of the US-activated carbon industry. With more than 25 years of experience under his belt, Dr Kathawalla will be an asset to the commissioning and expansion plans of the flagship production facility.
Carbonxt Managing Director Mr Warren Murphy stated,
“Now that the terms of the Kentucky Joint Venture are formally in place, we are thrilled to announce the appointment of an experienced industry executive of Imtiaz’s calibre to the Carbonxt Board. His extensive industry experience, deep sector relationships and strategic acumen make him the ideal candidate to contribute to the Company’s next growth phase.”
“The Board and management team look forward to working closely with Imtiaz in the months and years ahead as Carbonxt executes its strategy to become a leading supplier of activated carbon products in the US market.”
Figure 2: Managing Director Warren Murphy
Also, the new Non-Executive Director, Dr Imtiaz Kathawalla, stated, “I’m excited to join the Carbonxt Board, where I feel my skills and career experience are particularly well-suited to contribute to our US growth strategy.”
“With the pending development of its carbon production facility in Kentucky, Carbonxt is uniquely positioned to capitalise on a major addressable market opportunity, with significant resources now being deployed to improve water quality both in the US and globally. I look forward to working with the Carbonxt team to assist in pursuing the Company’s strategic and operational objectives.”
About Dr. Imtiaz Kathawalla: An Expert in Advanced Carbon Technology
Figure 3: Non-Executive Director Dr Imtiaz Kathawalla
Dr Imtiaz Kathawalla graduated with a PhD in chemical engineering from the University of Illinois. He honed his management skills with an MBA from Carnegie Mellon University. Beginning his career as a Product Manager in the Aristech Chemical Corporation, he rose to head the Cabot Corporation (Purification Solutions) as a Vice President and General Manager. Dr Kathawalla worked for 27 years at Cabot Corporation, a $4.3 billion global chemical company. He was in charge of a business, where he led a substantial rise in EBITDA and subsequently managed the sale of the business to a prominent private equity group. Subsequently, as the Chief Executive Officer, he oversaw the acquisition of Norit Activated Carbon by One Equity Partners OEP, a middle-market private equity firm.
Dr Imtiaz Kathawalla is the right person to advise Carbonxt, as Company plans to build a facility in Kentucky with a US partner, Kentucky Carbon Processing, LLC. The Company expects new PFAS regulations to increase its market by around ~$US 600 million due to government support for better water quality standards in the US.
About Novel Activated Carbon for Filters and Collaboration with Kentucky Carbon Processing LLC
Fig.4 Granular activated carbon to be manufactured in Kentucky
Carbonxt (ASX: CG1) is a pioneering cleantech company known for its patented Activated Carbon products, including super oxidising pellets. These pellets are vital in improving air and water quality through efficient filters. Carbonxt has partnered with Kentucky Carbon Processing LLC (KCP) to meet the growing demand to establish NewCarbon, a joint venture to construct an advanced carbon production facility. This collaboration will increase the Company’s total production to 21,000 tons, catering to industries adhering to standards for Per- and Polyfluorinated Substances (PFAS) specified by the recent regulatory changes by EPA, particularly for wastewater treatment and gas-phase filtration markets.
Why should investors look out for Carbonxt?
Figure 4: Flowchart for the roles in New Carbon Kentucky Joint Venture
- Carbonxt is a cleantech US-focused company. Dr Kathawalla’s appointment significantly enhances the Board’s composition, bringing extensive management experience in the relevant sector.
- The Company has signed a JV with Kentucky Carbon Processing LLC to explore powdered activated carbon for PAFS removal.
- This is expected to expand Carbonxt‘s market by approximately USD 600 million.
- Its share price is AUD 0.064 as of July 19th, 2023.
- The market capitalisation is AUD 22.30 million as of July 19th, 2023.
- The 52-week range is AUD 0.170 – 0.046 per share.
Visit the OFFICIAL WEBSITE for the latest updates and details.
Disclaimer
The Content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations, and video (Content), is a service of COLITCO LLP and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such.
Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is not a solicitation or recommendation to buy, sell or hold the stocks of the Company (s) or engage in any investment activity under discussion. Colitco LLP is neither licensed nor qualified to provide investment advice through this platform. Users should inquire about any investments, and Colitco LLP strongly suggests that users seek advice from a financial adviser, stockbroker, or other professional (including taxation and legal advice) as necessary. Colitco, at this moment, disclaims any liabilities to any user for any direct, indirect, implied, punitive, special, incidental, or other consequential damages arising from any use of the Content on this website, which is provided without warranties.
The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Colitco LLP. Some images/music used on this website is copyrighted to their respective owner(s). Colitco LLP does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions, or are believed to be in the public domain. We have used reasonable efforts to accredit the head wherever it was indicated as or found to be necessary.
