Carbon Revolution issues statement on voluntary administration

Carbon Revolution plc, a Tier 1 OEM supplier and the leading global manufacturer of lightweight advanced technology automotive carbon fibre wheels, and its Australian subsidiaries believe that this decision is the gateway to enabling the Australian subsidiaries to become a nimble and financially secure global leader in lightweight wheel technology. This critical step is intended to set the stage to drive a new era of growth, further technological innovation, and enhance customer engagement as the Australian business seeks to further strengthen relationships with its customers, suppliers, and employees.

“Now is the right time for Carbon Revolution to engage in this process, one that holds the opportunity of a de-leveraged balance sheet and the ability to expand the depth of our relationships with our current customers and add new ones,” Eugene Davis, Director of the Australian subsidiaries, said.

Restructuring support agreement

The company and its Australian subsidiaries have entered into a Restructuring Support Agreement (RSA) with substantially all its senior secured lenders, who have agreed to the financial restructure of Carbon Revolution’s business in Australia upon its exit from voluntary administration. This organised restructuring is designed to enable Carbon Revolution’s Australian subsidiaries to unburden themselves of all senior secured debt and certain other legacy obligations, so that they can emerge as a stronger, privately-held business. The organised restructuring is subject to the approval of the administrators (who were appointed by the board of the Australian subsidiaries) and the Australian subsidiaries’ creditors.

Coming out of voluntary administration, the restructured Carbon Revolution business in Australia can look forward to unlocking the growing global market for lightweight wheels through its strategic four pillar framework:

• Right technology: continue to focus on lightweight engineering products and processes
• Right products: maintain its status globally as the leader in carbon fibre wheels
• Right geography: reduce cost and manufacture closer to its customers, significantly shortening its supply chain, and improving its speed of delivery
• Right customers: drive customer satisfaction, a foundational discipline that is the promise to every customer (Carbon Revolution’s “win with winners” initiative)

“As the market’s appreciation for the value that carbon fibre wheels deliver continues to grow, the restructured business will be well set up to be a prime beneficiary of this trend at just the right time,” Bob Lutz, Chairman of Carbon Revolution plc., said.

Carbon Revolution’s operations in Australia will continue through this period with production schedules met, deliveries made, and the development of new products ongoing. It is anticipated that the restructured Australian business can re-emerge in Q2 2026 with the capital and market positioning necessary to execute on its strategic plan.

It is expected that, upon the completion of the restructuring of the Australian business through the voluntary administration, Carbon Revolution plc will cease to have any continuing equity interest in the Australian subsidiaries or their businesses. Accordingly, the RSA provides for the orderly wind down and liquidation of Carbon Revolution plc., a publicly-traded company whose ordinary shares are traded in the OTC Expert Market, in accordance with Irish law, which it is anticipated will commence shortly following the emergence of the Australian business from voluntary administration.

“We want to extend our abiding gratitude to our employees, customers, suppliers, shareholders, and so many others for supporting us through this journey,” Mr. Lutz said.

About Carbon Revolution plc

Carbon Revolution plc is the parent of Carbon Revolution Pty Ltd, an early-stage growth company which has successfully innovated, commercialised and industrialised the advanced manufacture of carbon fibre wheels for the global automotive industry. The company has progressed from single prototypes to designing and manufacturing lightweight wheels for cars and SUVs in the high performance, premium and luxury segments, for the world’s most prestigious automotive brands.

Cover photo: Carbon Revolution