Carbon Revolution plc recently released its annual report for the fiscal year ending June 30, 2023. The company reported no revenue generation for the fiscal years ending June 30, 2023, and June 30, 2022, with net profits remaining at €0 for both periods. Since its inception in 2017 through June 30, 2023, Carbon Revolution did not conduct operations or generate revenue, marking no variation in its financial performance over the reported years. Following the closing of a Business Combination, Carbon Revolution has become a wholly owned subsidiary of the Company, marking a significant operational update. This transaction is treated as a capital reorganization. As of June 30, 2023, Carbon Revolution has one lease for its head office and production facility, and it entered into a supply chain finance agreement with a logistics company in 2021. There is no specific guidance or outlook provided for future financial performance in the report.
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