Carbon Revolution plc Begins Trading Today on Nasdaq Under the Symbol “CREV”

Listing Follows Completion of Business Combination with Twin Ridge Acquisition Corp. Former General Motors Vice Chairman Bob Lutz to Serve on Board

GEELONG, Australia, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Carbon Revolution plc, parent of Carbon Revolution Limited (the “Company” or “Carbon Revolution”), a Tier 1 OEM supplier and a leading global manufacturer of lightweight advanced technology carbon fiber wheels, announced that its stock will begin trading today on Nasdaq under the symbol “CREV” following the business combination of the Company with Twin Ridge Capital Acquisition Corp. (“Twin Ridge”) today.

Joining the board of Carbon Revolution plc after the business combination are four U.S.-based senior automotive executives including former General Motors Vice Chairman Bob Lutz who has held executive positions at General Motors, Chrysler, and Ford Motor Company. Other appointees include: Burt Jordan, former Vice President of Global Purchasing Operations and Supply Chain Sustainability at Ford Motor Company; Jacqueline A. Dedo, co-founder of Aware Mobility LLC, and president at Piston Group, member of the board of directors of Li-Cycle Holdings Corp. and Workhorse Group Inc; and Matti Masanovich, Senior Vice President and Chief Financial Officer of Catalent, former Global Vice President at Aptiv (formerly Delphi Automotive).

“We have come a long way over the last decade in developing and then further expanding the global footprint of our carbon fiber wheel technology, and we’re just getting started,” said Jake Dingle, CEO of Carbon Revolution plc. “We have been awarded 18 vehicle programs for six global OEMs including Ford Motor Company, General Motors Company, Renault, Ferrari N.V. and Jaguar Land Rover and intend to continue to expand our portfolio of global automaker clients as demand grows for disruptive efficiency technology, especially in the rapidly growing electric vehicle sector, which represents more than 50% of our backlog.”

“I would like to thank the entire Carbon Revolution team, as well as our partners at Twin Ridge, for their support and dedication throughout this process,” added Mr. Dingle. “I would also like to thank our new equity partner Orion Infrastructure Capital (‘OIC’), a leading infrastructure investment firm, and PIUS Limited, LLC, a Gallagher company specializing in IP-backed financing, for their confidence in our global business strategy.”