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Carbonxt Group - Revenue Update and Contract Expansion Secured

• Arden Hills manufacturing output of Activated Carbon Pellets ramps up to meet added demand from customer Wisconsin power station customer; now producing 100 tons per week, up from 40 tons last month
• On-track to deliver quarterly revenue of >A$4.2m (prior quarter: A$2.7m) in the September quarter; up 55% quarter-on-quarter and driven by first revenue from expanded AC Pellet customer order which will add A$1.5m to quarterly revenue
• Existing Powder Activated Carbon (PAC) customer in the electricity sector expands order by $0.4m
• Carbonxt making good progress with Hydrestor® pellet technology for use in the water and wastewater treatment sector – update pending

United States focused Cleantech company Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) is pleased to confirm that it has successfully ramped up manufacturing capacity to fulfil the recently announced US$2 million contract to supply an additional 1,000 tons of Activated Carbon (“AC”) Pellets from the Arden Hills facility in Minnesota to an existing power station customer in Wisconsin, USA.

With new manufacturing shifts added, output has increased from 40 tons of AC Pellets per week to an average of 100 tons of pellets per week. As a result, this is expected to add at least A$1.5m of revenue this quarter with September’s quarterly revenue on track to exceed A$4.2m, a 55% increase on the June quarter and reflective of the fact that demand is starting to pick up in the United States as the impact of the pandemic lessens. 

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