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Carbonxt Group - March 2022 Quarterly Activities Report

* Quarterly customer receipts of A$3.8m. However, a further $1.0m of receipts were subject to a logistics delay beyond our control and therefore revenue will be recognised in the next quarter. This would have resulted in a normalised quarterly revenue in line with the last two quarters.
* Net operating cash outflow of A$1,023k, due to invoicing delay mentioned above as well as an inventory build and raw material prepayments, discussed below in more detail.
* Sales of Powdered Activated Carbon (PAC) grew by 28% compared to the prior quarter driven by the win of a major Mid-West distributor of PAC to the mercury emissions market.
* Carbonxt’s HydRestor pelletized products was selected as the treatment option for an Innovative Technology Grant by the Florida Department of Environmental Protection with a related $400k of pilot testing being funded
* The required permit for the new pellet manufacturing facility in Kentucky is imminent and we are now in active discussions with customers to sell the resulting capacity. 

Carbonxt Group Ltd (ASX:CG1) (“Carbonxt” or “the Company”) has released its Appendix 4C Report for the March 2022 Quarter and provides the following update on the key areas of activity for the period -- all numbers are in A$.

For more information, download the attached PDF.

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