Carbon Revolution’s proposed merger and US listing has been driven by increased demand from car makers for its lightweight carbon fibre wheels, CEO Jake Dingle told Bloomberg Asia TV.
In a wide-ranging interview, Dingle said Carbon Revolution would seek to access capital to increase production capacity at its Australian facility in Geelong, so that it could move from a niche technology to a more mainstream one. In particular, Dingle said Carbon Revolution’s lightweight wheels were sought after among companies developing electric vehicles.
“The capital goes towards additional capacity to meet that demand, particularly from the SUV and pickup truck market in North America, which we’re now seeing drive the demand for technologies like ours. And because of the impact that the weight that we can save has, it’s an enormous weight save, we’re seeing that it’s becoming a very sought after technology for those platforms as they grow,” Dingle said.
Watch the full interview
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Find out more about Carbon Revolution’s proposed merger with Twin Ridge Capital Acquistion Corp.