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Carbonxt Group - Update on Construction Progress at Kentucky

  • Following accelerated construction activity, the state-of-the-art Activated Carbon facility in Kentucky, USA is now scheduled to begin commissioning production in January 2024; project is on budget
  • Confirmation that the milestone payment of US$500,000 has been made now that all equipment has successfully been delivered to site, in accordance with the terms of the Joint Venture agreement between Carbonxt and its US development partner
  • Expanded production outlook has been accompanied by promising feedback from current and potential customers; potential sales pipeline viewed as highly encouraging
  • An interview with Dr. David Mazyck, alongside Carbonxt Inc CEO Dr. Regina Rodriguez, providing details on recent construction activity and the Company’s near-term sales outlook is available at this link

United States focused Cleantech company Carbonxt Group Ltd (ASX:CG1) (‘‘Carbonxt” or “the Company”) is pleased to provide this update with respect to the development of its state-of-the-art activated carbon production facility in Kentucky, USA. The investment is in NewCarbon LLC, in Kentucky – an intended 50%-owned operations with US-based partner, Kentucky Carbon Processing (KCP) (refer ASX Announcement 31 May 2023).

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