Carbonxt Ramps Up U.S. Expansion with Larger Stake in Kentucky Plant
Carbonxt Group Limited (ASX: CG1) has significantly advanced its U.S. growth ambitions by increasing its stake in the Kentucky activated carbon production facility to 43.7%. The Company invested an additional US$1 million into joint venture partner NewCarbon Processing LLC, reaffirming its commitment to scaling operations in the high-margin liquid-phase activated carbon market . This strategic move aligns with Carbonxt’s long-term vision to reach 50% ownership of the facility, with production now just weeks away. The Kentucky plant complements Carbonxt’s existing powdered activated carbon operation in Georgia and serves as a launchpad into the larger U.S. water treatment and environmental compliance markets. Commissioning is in its final stages, with kiln testing and electrical work complete, and final insulation now underway. To support this investment and ensure sufficient working capital, Carbonxt has raised A$1 million through a convertible note issued to major shar...