Carbon Revolution, the world-leading Australian manufacturer of one-piece carbon fibre composite wheels, officially released its Prospectus last week ahead of its public listing on November 29.
Recent months have seen a string of announcements from the fast-expanding company, including a strategic supply agreement, a contract with a global SUV manufacturer, as well as a memorandum of understanding with the Japanese industrial giant, Mitsui, and Co, stepping up the company’s access to the Japanese auto market. The company is also developing world-first wheels for the Chinook helicopter under a recently announced defence contract via the Defence Innovation Hub.
Chairman James Douglas said in a letter to potential investors in the prospectus that Carbon Revolution had been the only company in the world to ”have successfully developed and manufactured single piece carbon-fibre automotive wheels” to Original Equipment Manufacturer standards with commercial adoption by several car makers.
The company makes its high-performance wheels at a plant at Waurn Ponds near Geelong. The prospectus outlines that it has sold 17,300 wheels since it began production.
It already has supply deals with car makers including Ferrari, Ford, and Renault. Its first major contract was with Ford in the US in 2015.
Revenues are projected to be $62.2 million in 2019-2020, up from $15.1 million in 2018-19.
The prospectus outlines that in August 2019 the production rate was the equivalent to an annualised production rate of 12,000 wheels per year.
The company envisages that will rise to an annualised equivalent rate of 32,000 by June 2020.
Carbon Revolution has invested over $150 million developing and commercialising its technology over the past 12 years.