Carbonxt Group Ltd (ASX: $CG1) Contract Extension Announcement

Carbonxt Group Ltd (ASX: $CG1) has secured a significant four-year contract extension to supply premium Powder Activated Carbon ('PAC') products from its Black Birch facility to Reworld, a leading provider of sustainable waste solutions in the US waste-to-energy industry. The contract is expected to generate approximately $6 million in annual revenues for the duration of the contract, commencing in October 2024. This extension will represent an increase of over 25% in total annual revenues for the Group, alongside a significant uplift in gross margin for the Black Birch facility.

Executive Commentary on Contract Extension

Managing Director Warren Murphy expressed, 'This contract expansion and extension with Reworld is a significant development for the Company, and firmly establishes Carbonxt's presence in the US waste-to-energy sector. With an increase in demand from additional new sectors and ongoing solid performance from our technology portfolio, we remain in a strong position to scale up operations and deliver further value to our shareholders.'

Summary of Carbonxt Group's Contract Extension

Carbonxt Group Ltd (ASX: $CG1) has successfully secured a four-year contract extension to supply premium PAC products to Reworld, a leading provider of sustainable waste solutions in the US waste-to-energy industry. The contract is expected to generate approximately $6 million in annual revenues, representing an increase of over 25% in total annual revenues for the Group. This extension firmly establishes Carbonxt's presence in the US waste-to-energy sector and aligns strategically with Reworld's commitment to sustainability objectives. With the forthcoming commissioning of its flagship activated carbon production facility in Kentucky, Carbonxt is well-positioned to meet the growing demand for sustainable waste solutions and deliver further value to its shareholders.