Carbonxt (ASX: CG1) confirms JV agreement with KCP for Kentucky activated carbon plant

May 31, 2023 12:50 PM AEST | By Ankit Sethi

Carbonxt (ASX: CG1) confirms JV agreement with KCP for Kentucky activated carbon plant — Image source: Carbonxt website

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Highlights

Carbonxt and Kentucky Carbon Processing (KCP) have established a legally binding joint venture agreement

The agreement, titled 'NewCarbon', relates to the development of an activated carbon production facility in the US

Carbonxt asserts it has a “major addressable market opportunity” for its products in the US water and wastewater treatment industry

US-focused and Australia-listed cleantech company Carbonxt Limited (ASX:CG1) -- having expertise in the production of specialised activated carbon products -- has announced the finalisation of a legally binding joint venture agreement, titled 'NewCarbon', with Kentucky Carbon Processing, LLC. Kentucky Carbon is Carbonxt's US partner in the construction of a state-of-the-art activated carbon plant in Kentucky, USA.

Notably, while Carbonxt will contribute US$10 million under the agreement over the next two years, KCP will contribute the required Inez Power assets for the initial >10,000 tons activated carbon plant.

Source: Company update

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