Carbonxt Group Ltd (ASX: CG1) has completed a placement to secure additional funding for further investment in New Carbon Processing, LLC. The placement involved 6,666,667 fully paid ordinary shares at $0.09 per share, raising $600,000. The proceeds will be used for working capital and to increase Carbonxt’s ownership interest in New Carbon Processing to 46.7%. The placement price represents discounts to recent closing prices, highlighting a positive opportunity for investors.

New Carbon Processing is progressing towards commissioning campaigns at its Kentucky facility, with ongoing works to support operations. All securities issued under this announcement will rank equally with existing shares. Investors are welcome to reach out with any questions regarding this development.

For more information, feel free to contact Warren Murphy, Managing Director of Carbonxt Group Limited, or Mark Flynn, Investor Relations at irX Advisors. Carbonxt is a cleantech company specializing in Activated Carbon products for contaminant capture in industrial processes, offering a promising investment opportunity in the industry.