Carbonxt (ASX:CG1) Ups Stake in Kentucky Plant as it Achieves Mechanical Completion

December 18, 2024 12:10 PM AEDT | By Sonal Goyal

Carbonxt (ASX:CG1) Ups Stake in Kentucky Plant as it Achieves Mechanical Completion — Image source: Company update

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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.

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.

Following the update, CG1 shares jump 6.78% to trade at 6.3 cents per share at the time of drafting on 18 December 2024.

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