Highlights

• Carbonxt Group has closed its Share Purchase Plan (SPP), raising AUD 1,000,000.
• Shareholders were offered the opportunity to purchase shares at AUD 0.06 each, upto a total of AUD 30,000.
• The Chairman and Managing Director of the company subscribed in full to the raising.
• Proceeds from the SPP will support Carbonxt’s strategic investment in an activated carbon plant in Kentucky.
• The company plans to use AUD 1.6 million, including the proceeds from the SPP to fund the first installment of the remaining three installments to reach 50% ownership of the Kentucky investment.

US-focused cleantech company Carbonxt Group Limited (ASX:CG1) has completed its Share Purchase Plan (SPP) of AUD 1 million. Commitments received were of AUD 739,000 and the balance of AUD 261,000 was allocated to the underwriters. The SPP, which closed on 3 April 2025, allowed shareholders to purchase up to AUD 30,000 worth of shares at a price of AUD 0.06 each.

Carbonxt specialises in the development and marketing of Powdered Activated Carbon and Activated Carbon pellets, which are used in industrial air purification, wastewater treatment, and other liquid and gas phase markets.

Strategic Investment in Kentucky Plant

The funds raised through the SPP will support Carbonxt’s strategic investment in a state-of-the-art activated carbon plant in eastern Kentucky, USA.

Carbonxt currently holds a 40% interest in the facility and has the right to acquire an additional 10% in three tranches, totaling USD 3.25 million (approximately AUD 5.3 million). The company plans to use the SPP proceeds to assist in the funding of the first instalment of USD 1 million (approximately AUD 1.6 million).

Reflecting on the development, Carbonxt Managing Director Warren Murphy commented: “We are pleased with the support received from our shareholders during this capital raise. The funds will be applied directly to the Kentucky facility, which is central to our expansion strategy and long-term revenue growth. The strong backing from our major shareholders and the active participation of the board underscores our shared confidence in Carbonxt’s future.”

SPP Underwritten and Shareholder Commitment

The SPP was underwritten for AUD 1,000,000, with equal contributions from two shareholders, Phelbe Pty Ltd and Chaleyer Holdings Pty Ltd. The remaining shortfall of AUD 261,000 in ordinary shares has now been placed by these shareholders.

As a sign of confidence in the company’s strategy and growth prospects, the Chairman and Managing Director of Carbonxt will fully subscribe to their AUD 30,000 allocation under the SPP.

A total of 16,666,667 shares will be issued on 9 April 2025, with trading expected to commence on the same day.

The share price of CG1 was AUD 0.051 at the time of writing on 08 April 2025.