• Total value of powdered activated carbon (‘PAC’) have almost doubled and now exceed ~$11m annually
• Revenue from new orders materialises from January 2022 and deliver a forecast gross margin of 40%
• Demand for PAC continues to grow as customer activity returns to normal levels
• Longer term revenue streams from PAC product underpinned by two existing contracts with power utilities being extended for a further two years
• Pipeline of new orders now increasing substantially for Activated Carbon (‘AC’) Pellets with opportunities in new sectors
United States focused Cleantech company Carbonxt Group Ltd (ASX:CG1) (‘‘Carbonxt” or “the Company”) is pleased to announce that it has almost doubled the value of powdered activated carbon (‘PAC’) orders to A$11m annually with orders secured from new customers in the power generation, waste-to-energy and cement manufacturing sectors.
The vast majority of these new supply contracts will commence in January 2022 and will add nearly $5 million in annualised revenue with a forecast gross margin of around 40%.
The contracts are for a one-year term with extension rights to three years if the PAC products perform to specification. The Company is also pleased to announce that two of its existing PAC contracts with power utility customers have been extended by two years to 31 December 2023.
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