Carbon Revolution

What Carbon Revolution does

Carbon Revolution is an Australian advanced-manufacturing company founded in 2007 that designs, manufactures, and sells single-piece carbon fibre composite wheels for the automotive industry. Its core and effectively sole product line is lightweight carbon fibre wheels supplied as original equipment to automotive OEMs, with a primary focus on electric-vehicle and premium/performance vehicle programs where reduced unsprung mass and weight savings improve range, efficiency, and vehicle dynamics. Manufacturing is concentrated at facilities in Geelong/Waurn Ponds, Victoria, including a newly commissioned automated "Mega-line" facility intended to scale volume production.

The business model is hardware sales through a direct B2B enterprise field-sales motion: wheels are sold as original equipment into discrete OEM vehicle programs, with revenue recognized as one-time product sales per program rather than recurring or aftermarket distribution. Pricing is not publicly disclosed and is negotiated per program. The company positions itself as a vertically integrated, single-source supplier and claims to be the first to achieve volume production of carbon fibre automotive wheels.

Following a November 2023 SPAC business combination with Twin Ridge Capital Acquisition Corp., the company listed on Nasdaq as Carbon Revolution plc (ticker CREV), domiciled in Wilmington, Delaware, with operations conducted through Australian subsidiary Carbon Revolution Pty Ltd. Despite reaching record FY2024 revenue of US$47.3 million (up 87% year-over-year), it incurred a US$146.4 million net loss, relied almost entirely on financing from Orion Infrastructure Capital (OIC), cancelled two EV wheel programs amid declining demand, was delisted from Nasdaq in February 2026, and placed its Australian subsidiaries into voluntary administration in March 2026.

Name

Carbon Revolution

Legal name

Carbon Revolution plc

Website

https://carbonrev.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Carbon Revolution is an Australian advanced-manufacturing company that designs and builds single-piece carbon fibre wheels, sold as original equipment directly to automotive OEMs primarily for electric-vehicle and premium/performance vehicle programs.

Ownership category

akta.pro rank

Product category

Automotive Wheels / Composite Wheel Manufacturing

NAICS

Motor Vehicle Parts Manufacturing (3363), Motor Vehicle Steering and Suspension Components (except Spring) Manufacturing (33633)

akta.pro primary industry

Wheels, Tires, Brakes & Suspension Components Manufacturing (IMACAOAH)

Keywords

• Carbon fiber wheels
• Automotive OEM components
• Lightweight wheel manufacturing
• Electric vehicle parts
• Composite materials

Headquarters

HQ city

Waurn Ponds

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Carbon Fiber Wheel Sales: Sale of lightweight carbon fiber composite wheels to automotive OEMs, primarily for electric vehicle applications. Revenue is generated through one-time product sales per customer program.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Carbon Revolution designs, engineers, and manufactures lightweight, single-piece carbon fibre composite wheels for the global automotive industry. Its products are sold to passenger vehicle, performance, and electric vehicle OEMs as factory-installed or option-package components. Manufacturing is anchored in a purpose-built, automated Mega-line facility in Geelong, Australia, with reported nameplate capacity of ~10,000 wheels and a roadmap toward higher-volume industrial production.

Product overview

Carbon Revolution is a manufacturer of lightweight carbon fiber wheels for the automotive industry, with a primary focus on electric vehicles. The company's core product is their carbon fiber wheel technology, which provides weight reduction and enhanced performance compared to traditional aluminum wheels. They operate manufacturing facilities including a Mega-line for capacity expansion to serve OEM automotive programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Single-piece carbon fibre composite wheels Lightweight, single-piece carbon fibre wheels supplied to global automotive OEMs for factory fitment on passenger vehicles, performance vehicles, and electric vehicles. Manufactured at the company's Mega-line facility in Geelong, Australia, using proprietary composite processes, and validated for OEM homologation requirements.
• Carbon fibre wheel program engineering and validation services Engineering, design, simulation, and homologation services delivered alongside wheel supply for OEM vehicle programs. Includes program-specific tooling, validation testing, and integration support required for OEM wheel fitment approvals.

Quantifiable outcome

• Record revenue of US$47.3 million in fiscal 2024, 87% year-over-year increase

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Twin Ridge Capital Acquisition Corp.coreStrategic or Co-development Partner · 24 May 2023SPAC merger partner for Carbon Revolution's planned U.S. listing. The business combination was expected to close in August 2023 and enabled the company to list on Nasdaq. Share consolidation occurred as part of this transaction.

Scale indicators11 records

Recent moves9 records

Expansion highlights4 records

Broad incumbents

• Ronal Group: European-based wheel manufacturer producing alloy wheels for passenger cars and commercial vehicles. Comparable in OEM wheel program focus and European industrial footprint, though focused on aluminum rather than carbon fiber.
• MAXION Wheels: World's largest wheel manufacturer supplying forged and cast wheels to global automotive OEMs. Comparable as a major OEM wheel supplier, though focused on aluminum and steel rather than carbon fiber.
• Enkei Corporation: Japanese manufacturer of aluminum wheels serving passenger car and motorcycle OEMs globally. Comparable as a high-volume wheel supplier with deep OEM relationships, particularly in Asia.
• Superior Industries International: Major North American and European OEM wheel supplier producing aluminum and steel wheels for passenger cars, light trucks, and SUVs. Comparable as an automotive wheel incumbent serving global OEM platforms.

Regional players

• Endurance Technologies: Indian automotive component manufacturer producing suspension, transmission, braking and other parts for two-wheelers and passenger vehicles. Comparable as a large-scale automotive parts supplier in a complementary geography.

Emerging players

• Plasan Carbon Composites: Composites manufacturer with capabilities in carbon fiber body panels and structural components for automotive and aerospace. Adjacent technology overlap with Carbon Revolution's carbon fiber manufacturing expertise.
• Forgeline Motorsports: U.S. manufacturer of custom forged and carbon fiber wheels for motorsport and high-end automotive applications. Comparable in carbon fiber wheel innovation and niche performance customer base.

Direct peers

• Vossen Wheels: U.S.-based aftermarket wheel company specializing in luxury and performance forged wheels. Comparable in performance-vehicle target market and lightweighting positioning, though primarily aftermarket rather than OEM.
• BBS GmbH: German manufacturer of forged aluminum and carbon fiber wheels serving premium and performance automotive OEMs and the aftermarket. Directly comparable in carbon fiber wheel innovation and OEM program focus, with strong European presence.
• HRE Performance Wheels: U.S.-based manufacturer of forged and carbon fiber wheels for performance automotive and motorsport applications. The closest peer in carbon fiber wheel technology and target customers, with direct overlap on premium and EV-adjacent OEM programmes.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/carbonrev
• Facebookfacebook.com/CarbonRevolution
• LinkedInlinkedin.com/company/carbon-revolution

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds7 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carbon Revolution