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Highlights
- CG1 has achieved mechanical completion of production equipment in Kentucky.
- Carbonxt increases its ownership stake to 40%.
- Sample production is planned for the March quarter.
- Customer demand for the plant's products remains high.
Carbonxt Group Ltd (ASX:CG1) has achieved mechanical completion of its Kentucky plant and increased its ownership stake to 40% in the project. This achievement marks a major step forward in Carbonxt’s strategy to boost its production capacity and address the growing demand for premium activated carbon products, driven by PFAS regulations. The cutting-edge activated carbon production plant has also completed third-party verification successfully.
With the energisation of kiln circuits and the integration of the control systems, the facility is fully prepared to commence the commissioning phase.
New Kentucky Plant to Address Supply Gaps in Activated Carbon
This engineering development highlights the alliance between Carbonxt and its joint venture partner, KCP, to create a market-leading production facility. As global demand for activated carbon rises, especially in North America due to environmental regulations, Carbonxt is geared up to meet supply shortages. The Kentucky plant aims to capitalise on the growing market, taking advantage of rising prices for activated carbon products.
The Kentucky plant enables Carbonxt to:
The Kentucky facility supports the company’s sustainability goals by providing solutions for critical environmental issues like PFAS contamination and industrial emissions. With ongoing sales negotiations, customer demand for the plant's products remains high. Sample production in the March quarter will allow Carbonxt to finalise long-term offtake agreements.
Following the update, CG1 shares jumped 6.78% to trade at AU$0.061 per share at the time of drafting on 18 December 2024.
