Highlights
-- Quarterly customer receipts of A$5.1m (prior quarter: A$4.1m) – a 19% quarter-on-quarter increase reflecting strong product demand.
-- Operating cashflow positive quarter (A$0.5m) – a $A1.6m improvement on the prior quarter.
-- Sales of Powdered Activated Carbon (PAC) grew by 17% quarter-on-quarter driven by higher sales to our largest industrial customer. Sales of Activated Carbon Pellets (ACP) down <5% on prior quarter.
-- Carbonxt’s largest customer extended its ACP supply agreement out to 2030. This 8-year extension follows an original 6-year contract, includes significant price increases, and marks the continuation of a highly successful partnership.
-- Additional $0.2m grant secured to advance Phase 2 development of technology to address the mitigation of Florida Red Tide algae blooms.
-- Successful $1.6m capital raise completed with funding from two institutions. $5.7m Conditional Placement subject to approval at the upcoming AGM.
Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Appendix 4C Report for the September 2022 Quarter and provides the following update on the key areas of activity for the period -- all numbers are in A$.
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