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US$500,000 prepayment confirmed to advance development of state-of-the-art activated carbon plant in Kentucky, USA
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Funding will facilitate the purchase of longer lead-time items in connection with the first phase of the plant’s construction
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Legal documentation to finalise the JV framework is progressing favourably, with final terms pending ahead of the commencement of construction
United States focused Cleantech company Carbonxt Group Ltd (ASX:CG1) (‘‘Carbonxt” or “the Company”) is pleased to present the following update on the development of its state-of-the-art activated carbon production facility in Kentucky, USA.
The Company confirms that a US$500,000 payment has been advanced for the project’s development with Carbonxt’s US-based JV partner, Kentucky Carbon Processing, LLC (“KCP”). The payment will become the first payment of the Company’s contribution to the Joint Venture once the final documents to formalise the Joint Venture are completed in the near future.
For more information, download the attached PDF.
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