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Agreement between Carbon Revolution and Twin Ridge Capital Acquisition Corporation December 05 2022

2022 Lucintel Composites Market Insights, December 05, 2022

Carbon Revolution Limited, a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, and Twin Ridge Capital Acquisition Corp., a publicly traded special purpose acquisition company, have signed a definitive business combination agreement and accompanying scheme implementation deed (“SID”) that is expected to result in Carbon Revolution becoming publicly listed in the U.S. via a scheme of arrangement.
Upon closing of the transaction, the ordinary shares and warrants of the merged company Poppetell Limited, to be renamed Carbon Revolution plc, are expected to trade on a national exchange in the United States, and Carbon Revolution’s shares shall be delisted from the ASX.
The transaction is anticipated to unlock critical investment capital to fund Carbon Revolution’s expansion of operations, which is required to meet its significant growth opportunity while accelerating the Company’s expected path to profitability.

To identify growth opportunities in Carbon Fiber in the Global Automotive Composites Market: Trends, Opportunities and Competitive Analysis, please visit https://www.lucintel.com/carbon-fiber-in-the-automotive-composites-market.aspx