Carbon Revolution shares expansion plans

Image: Deakin University

Geelong’s Carbon Revolution has shared its ambitious expansion plans, which include tripling staff to 300, achieving “real manufacturing” scale and raising an extra $50 million to help do so.

In an interview with The Australian Financial Review, the company’s CEO Jake Dingle said the raising would help lift production to between 100,000 to 200,000 wheels a year by 2021. There would also be an ASX listing in 2018.

“We are in mass production and the demand has been terrific, it has actually increased,” Dingle told The Australian Financial Review.

The company announced last year that it achieved its first OEM deal, supplying its carbon fibre composite wheels for Ford Motor Company’s Shelby GT350R, and other contracts include from a North American landing gear manufacturer. Prior to this it had sold to the automotive aftermarket.

Its one-piece wheels are roughly 40 – 50 per cent lighter than those made of alloys, offering fuel-saving and performance advantages.

The company is located at Deakin University’s Waurn Ponds campus.