Carbon Revolution: Secures $12m govt. grant for mega-line project

Carbon Revolution Secures $12m govt. grant for mega-line project

• Carbon Revolution (CBR) secures $12 million for its mega-line wheel manufacturing project under the Australian Government’s modern manufacturing initiative (MMI)
• The carbon fibre road wheel manufacturer was awarded the grant in round two of the MMI Manufacturing integration stream in recycling and clean energy
• It comes as the company works to increase capacity at its factory in Geelong by 75,000 wheels to 155,000 wheels per year
• The company says the grant will contribute to the remaining scope of the phase one mega-line project which will strengthen its capacity to supply the growing EV market
• Shares are trading 22.2 per cent higher at 55 cents