Carbon Revolution Wins Automotive News PACE Award from Investing.com



Geelong, Australia, April 30, 2024 (GLOBE NEWSWIRE) — Carbon Revolution plc (NASDAQ: CREV) (the “Company”), a Tier 1 OEM supplier and the world’s leading manufacturer of lightweight advanced technology automotive carbon fiber wheels “) won two important awards at the recent PACE Automotive News Awards Ceremony held on April 29. The company was awarded the prestigious 2024 Automotive News PACE Award, which recognizes automotive suppliers for excellence in innovation, technological advancement and business performance. In addition, Carbon Revolution was recognized with a 2024 Automotive News PACE Innovation Partner Award for its outstanding collaboration with General Motors (NYSE: ).

Carbon Revolution is recognized for its lightweight carbon fiber wheels, which are supplied to global OEMs including General Motors (GM), Ford (NYSE:), Ferrari (NYSE:), Renault (EPA: ) and Jaguar Land Rover. The company's wheels are 40 to 50 percent lighter than traditional aluminum wheels. In particular, Carbon Revolution was recognized for its work with General Motors to design and supply carbon fiber wheels for the C8 Corvette Z06 and E-Ray.

“For 29 years, the PACE program has been recognizing cutting-edge innovations that shape the automotive industry around the world,” said Jamie Butters, executive editor of Automotive News. The companies on this year’s list have pioneered important technologies that will continue to drive the industry forward.

The 29th annual PACE Awards are presented by Automotive News. The competition is open to suppliers that provide products, processes, materials or services directly to automobile or truck manufacturing. The Automotive News PACE Awards are recognized globally as the benchmark for industry innovation.

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We are delighted to receive such a prestigious award from one of the automotive industry's most prestigious publications. We have become a Tier 1 supplier of unique technologies to the world's most recognized OEMs, which is a testament to the extensive efforts of our design and manufacturing engineering teams. “I would like to especially thank General Motors for their close cooperation and collaboration,” said Jake Dingle, CEO of Carbon Revolution.

Carbon Revolution was awarded the Automotive News PACE Award after an extensive review by an independent panel of judges, including a comprehensive written application and a virtual site visit.

For complete details on the Automotive News PACE Awards, visit www.autonews.com/pace

About Carbon Revolution Ltd.

Carbon Revolution plc (NASDAQ: CREV) is the parent company of Carbon Revolution Pty Ltd, an early-stage growth company that has successfully innovated, commercialized and industrialized advanced manufacturing of lightweight carbon fiber wheels for the global automotive industry. The company has grown from a single prototype to designing and manufacturing lightweight wheels for sedans and SUVs in the high-performance, premium and luxury segments for the world's most prestigious automotive brands. Carbon Revolution is creating a significant and sustainable advanced technology business, supplying its lightweight wheel technology to car manufacturers around the world.

For more information, visit carbonrev.com

forward-looking statements

All statements in this communication other than statements of historical fact are forward-looking statements. Forward-looking statements generally can be identified by the use of words such as believe, may, will, estimate, continue, anticipate, intend, expect, should, will, plan, project, forecast, forecast, potential, appear, seek, future, and other words. , goals or other similar expressions (or the negative form of such words or expressions), predictions or indications of future events or trends, or statements that are not historical events. These forward-looking statements include, but are not limited to, statements regarding the Company's future financial performance, business strategies, financing and expectations. These statements are based on various assumptions (whether or not stated in this communication) and the current expectations of Carbon Revolution's management and are not predictions of actual performance. These forward-looking statements are for illustrative purposes only and are not intended to serve as guarantees, guarantees, predictions or express statements of fact or probability for any investor, and must not be relied upon by any investor. Actual events and circumstances are difficult or impossible to predict and may differ from such assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of the carbon revolution.

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These forward-looking statements are subject to a number of risks and uncertainties, including (i) Carbon Revolution's liquidity, including its payment obligations and issuance of equity capital, refinancing of its debt or otherwise obtaining financing or on acceptable terms; ability to raise capital, (ii) risks related to our ability to meet financial covenants and other key covenants under existing financing arrangements, (iii) changes in domestic and foreign business, market, financial, political and legal conditions; (iv) maintaining The ability of Carbon Revolution securities to be listed on a stock exchange; (5) Failure to realize the expected benefits of business combinations and related party transactions; (vi) Risks related to the launch of the Carbon Revolution business strategy and the timing of expected business milestones; (vii) Competition the impact on Carbon Revolution's future business and the combined company's ability to develop and manage growth, build and maintain relationships with its customers, and retain its management and key employees; (viii) related to domestic and international political and macroeconomic uncertainties risks, including the Russia-Ukraine and Israel-Hamas conflicts; (ix) the outcome of any legal proceedings that may be brought against Carbon Revolution; (x) the impact of the pandemic and government responses on any of the foregoing risks; (xi) and Risks associated with the Carbon Revolution industry; (xii) changes in laws and regulations; (xiii) factors discussed in Carbon Revolution's filings with the SEC, including Shell's (LON:) corporate reports on Form 20-F.

If any of these risks materialize, or if Carbon Revolution's assumptions prove incorrect, actual results may differ materially from those implied by these forward-looking statements. There may also be other risks that Carbon Revolution is not currently aware of or that Carbon Revolution currently considers to be immaterial, which could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Carbon Revolution's expectations, plans or predictions about future events and its views as of the date of this press release. Carbon Revolution It is expected that subsequent events and developments will lead to changes in the assessment of Carbon Revolution. However, while Carbon Revolution may elect to update these forward-looking statements at some point in the future, Carbon Revolution specifically disclaims any obligation to do so except as required by applicable law. These forward-looking statements should not be relied upon as representing Carbon Revolution's assessment as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed on forward-looking statements.

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For further information, please contact:InvestorsInvestors@carbonrev.comMediaMedia@carbonrev.com





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