Carbon Revolution has exited administration less than two months after its financial struggles caught up to it, giving the carbon-fibre wheel manufacturer a path forward.
In March, Carbon Revolution – which supplies carbon-fibre wheels to the likes of Ferrari, Lamborghini, Chevrolet and Ford – announced it would enter voluntary administration, citing a desire to get back on track amid financial uncertainty.
The depth of its financial difficulties were uncovered earlier this month, with the Australian Financial Review (AFR) citing a report by administrator McGrathNicol that uncovered $347 million in losses since July 2022.
According to the report, Carbon Revolution lost $97 million in the 2024-25 financial year and had lost $43 million between July 2025 and the end of March 2026. Two months ago it was reported the company had accrued circa-US$160 million (A$230 million) in debts.
Today Carbon Revolution announced it is now owned by US-based Orion Infrastructure Capital, which had previously been a secured lender of the brand to the tune of more than $230 million.
In a media release, Carbon Revolution said that “following Following overwhelming creditor support for the Deed of Company Arrangement (DOCA) proposed by affiliated funds of OIC L.P (OIC) and the endorsement of such DOCA by the company’s Administrators, McGrathNicol, Carbon Revolution now has no senior secured indebtedness and is now beneficially owned by OIC”.
“With the support of OIC and its employees, customers, suppliers, and creditors, Carbon Revolution is now better positioned to execute on its strategic priorities, improve operational performance, and pursue long-term growth opportunities across its commercial and strategic initiatives.”
The previous holding company of Carbon Revolution – Carbon Revolution plc, whose chairman Bob Lutz was a veteran executive of Detroit’s ‘Big Three’ carmakers – no longer has a continuing equity interest in Carbon Revolution, and is soon expected to wind down and be liquidated, in accordance with Irish law where it is headquartered.
“Achieving this milestone marks the beginning of an important new chapter for Carbon Revolution,” said Carbon Revolution CEO Donald Hampton Jr.
“Emerging from Voluntary Administration with a significantly deleveraged balance sheet gives Carbon Revolution greater flexibility to focus on execution and the next phase of our strategy.
“While important work remains ahead of us, we believe the company is now operating from a far stronger foundation. Our focus is on disciplined operational improvement, successful commercialization of new products, strategic partnerships, and expanding our manufacturing footprint in a way that better supports our customers globally.
“At the same time, we remain committed to our Australian operations, where we will continue to pursue growth opportunities.”
As previously reported, Carbon Revolution continued to operate under the voluntary administration, allowing its circa-350 strong workforce to remain employed.
While Carbon Revolution supplies lighter weight wheels for the Lamborghini Temerario, the Ford Mustang Dark Horse SC and the Chevrolet Corvette Z06, it had planned to make rims for electric vehicles too, with the lower weight helping to increase driving range.
Its financial woes were compounded after two “substantial” contracts for EVs were lost last year.
Carbon Revolution was listed on the ASX from 2019 but switched to the Nasdaq in November 2023.
It was kicked off the US stock exchange in February, after its market capitalisation bottomed out at almost US$20,000 (A$27,590), or about how much some car companies charge to equip its wheels.
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