Carbonxt Group Ltd (ASX: CG1), a cleantech company that develops and markets specialised Activated Carbon products focused on capturing contaminants in industrial processes, has announced it has secured $600,000 in additional funding through a placement of fully paid ordinary shares. The funding was supported by major shareholder Phelbe Pty Ltd and high-net-worth investors.
The company completed the placement of 6,666,667 shares at $0.09 per share. These placement shares will be issued under the company’s ASX Listing Rule 7.1 capacity. The placement price represents a 10.0% discount to the last closing price of $0.10, a 7.9% discount to the 5-day VWAP of $0.098, and a 6.8% discount to the 10-day VWAP of $0.097 of CG1 shares as of January 2, 2026.
The proceeds from the placement will be used for working capital and a further investment of US$250,000 in New Carbon Processing, LLC. This additional investment will increase Carbonxt’s ownership interest to 46.7%. The Kentucky facility of New Carbon Processing is moving towards commissioning campaigns, with remediation and additional works underway to support these campaigns and redundant operations.
Carbonxt will lodge a cleansing notice under section 708A(5) of the Corporations Act 2001 and an Appendix 2A with the ASX following the issue of these securities. All securities issued under this announcement will rank equally with existing fully paid ordinary shares on issue.
