Carbon Revolution Secures US$60 Million Loan - Seite 2

“In the escalating race to achieve supreme efficiency in automotive vehicles, Carbon Revolution has designed and manufactured some of the most technologically advanced carbon fiber composite wheels, with an extensive IP portfolio spanning multiple jurisdictions,” said PIUS CEO, Joe Agiato. “In addition to our excitement in helping Carbon Revolution leverage its IP to become listed in the United States the PIUS team is enthused about bringing insured technology financing to the Australian market. We look forward to being a part of Carbon Revolution’s future global growth.”

The Financing was secured in connection with the SPAC merger process following the November 2022 signing of a definitive business combination agreement with Twin Ridge Capital Acquisition Corp. (“Twin Ridge” or “TRCA”) (NYSE: TRCA) and accompanying scheme implementation deed (“SID”) that is expected to result in the Carbon Revolution business becoming publicly listed in the U.S. via a series of transactions, including a scheme of arrangement. Upon closing of the transactions, a newly-formed Irish company (also called Carbon Revolution Limited) (“MergeCo”) will acquire both the Company and TRCA and the ordinary shares and warrants of MergeCo are expected to trade on the Nasdaq. Carbon Revolution’s shares will cease to be quoted on the ASX.

ABOUT CARBON REVOLUTION

Carbon Revolution is an Australian technology company, which has successfully innovated, commercialized and industrialized the advanced manufacture of carbon fiber wheels for the global automotive industry. The Company has progressed from single prototypes to designing and manufacturing high-performing wheels for some of the fastest street cars and most prestigious brands in the world. Carbon Revolution is creating a significant and sustainable advanced technology business that supplies its lightweight wheel technology to automotive manufacturers around the world.

For more information, visit carbonrev.com

ABOUT PIUS

PIUS Limited, LLC, a Gallagher company, is a managing general underwriter with extensive expertise in evaluating IP and high-growth technology-driven companies. It offers a proprietary insurance product for growing technology companies, which utilizes a company’s intellectual property (IP) as collateral. By insuring the loan based on its evaluation of a company’s IP, PIUS helps facilitate greater loan amounts at better rates, while transferring the risk from the lender to the insurer. Through PIUS’ CLip Notes program, PIUS provides the insurance, brings the capital source via institutional investors, and monitors the transaction, providing a complete solution.