Carbonxt Raises $750,000 via Convertible Notes to Fund U.S. Expansion

Carbonxt Group Ltd. ( (AU:CG1) ) just unveiled an announcement.

Carbonxt Group Ltd has secured $750,000 in funding through the issue of convertible notes to major shareholder Phelbe Pty Ltd, strengthening its capital base without immediately diluting existing shareholders. The notes carry a 9.5% interest rate, a three-year term, and are convertible into 7.5 million shares with free-attaching options, and will be issued under the company’s existing placement capacity.

The proceeds will fund capital expenditure to expand Carbonxt’s pellet manufacturing facility in Minnesota and support a further US$250,000 investment in New Carbon Processing, LLC, lifting its ownership stake to 48.1%. The additional capital is expected to bolster working capital, accelerate production growth in key U.S. markets and deepen Carbonxt’s strategic position in activated carbon processing, potentially enhancing its competitiveness in industrial emissions control and water treatment applications.

More about Carbonxt Group Ltd.

Carbonxt Group Ltd is an Australia-listed cleantech company that develops and markets specialised activated carbon products aimed at capturing contaminants from industrial processes that emit significant harmful pollutants. It manufactures powdered activated carbon and activated carbon pellets for industrial air purification, wastewater treatment and broader liquid and gas phase applications.

Average Trading Volume: 125,459

Technical Sentiment Signal: Sell

Current Market Cap: A$32.93M

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