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Carbonxt Group Ltd. ( (AU:CG1) ) has provided an announcement.
Carbonxt Group Ltd has increased its stake in a Kentucky-based activated carbon production facility by paying an additional US$1 million, bringing its ownership to 43.7%. The facility, which is on track for commercial production in mid-2025, is expected to enhance Carbonxt’s revenue and margin expansion by entering the larger liquid-phase activated carbon market, driven by rising demand from U.S. water treatment and environmental compliance sectors. To support this investment, Carbonxt raised A$1.0 million through convertible notes, indicating strong shareholder backing and strategic alignment with its expansion goals.
More about Carbonxt Group Ltd.
Carbonxt Group Ltd (ASX: CG1) is a cleantech company specializing in the development and marketing of specialized activated carbon products. These products are aimed at capturing contaminants in industrial processes that emit significant amounts of harmful pollutants. The company produces powdered activated carbon and activated carbon pellets for use in industrial air purification, wastewater treatment, and other liquid and gas phase markets.
Average Trading Volume: 266,237
Technical Sentiment Signal: Sell
Current Market Cap: A$18.42M
For an in-depth examination of CG1 stock, go to TipRanks’ Overview page.