Carbon Revolution goes public via SPAC merger, trading under 'CREV' on Nasdaq

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Carbon Revolution goes public via SPAC merger, trading under 'CREV' on Nasdaq
Credit: © Reuters.

Carbon Revolution plc, the parent company of Carbon Revolution Limited and a renowned manufacturer of lightweight carbon fiber wheels, has started trading on the Nasdaq under the ticker "CREV". This follows its merger with special purpose acquisition company (SPAC) Twin Ridge Capital Acquisition Corp. The company's board now boasts industry veterans such as Bob Lutz, formerly of General Motors, Jacqueline A. Dedo, ex-Ford VP and co-founder of Aware Mobility LLC, and Matti Masanovich, CFO at Catalent (NYSE: CTLT ).

Under the stewardship of CEO Jake Dingle, Carbon Revolution has accomplished considerable success in globalizing their carbon fiber wheel technology. The company has secured 18 vehicle programs from six leading original equipment manufacturers (OEMs). These include prominent names such as Ferrari (NYSE: RACE ) N.V., Jaguar Land Rover, Renault (EPA: RENA ), General Motors Co (NYSE: GM )., and Ford (NYSE: F ).

The move to go public is seen as an important step in Carbon Revolution's growth trajectory. The inclusion of industry heavyweights on its board demonstrates the company's commitment to leveraging experience and expertise from across the automotive sector. This is expected to further strengthen the company's position in the market and enable it to continue its expansion into new territories and segments.

With its innovative carbon fiber wheel technology, Carbon Revolution has carved a niche for itself in the automotive industry. Its partnerships with major OEMs underscore the demand for lightweight and durable solutions in the automotive sector. As Carbon Revolution begins its journey as a publicly-traded company, it is poised to continue making strides in this specialized field.

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