Mark Bernhard, the former chairman and managing director at GM Holden until August last year, has joined Carbon Revolution ahead of its planned listing on the stock exchange.
Bernhard was a long-serving General Motors employee, and headed Holden for three years, overseeing the end of their local assembly operations in October 2017.
GoAutoNews reports him as saying, “When I left I had lots of advice that I couldn’t stay ‘retired’ and that advice has proven correct. It’s now time to get back involved and I’ve now embarked on a non-executive director role at Carbon Revolution – at an exciting manufacturing company based here in Victoria, Australia – that’s right back to a company that ‘makes things’, coupled with having great growth momentum and massive potential.”
Australasian Lawyer reports that Carbon Revolution completed a pre-IPO capital raising last month, advised by Ashurst, and issuing $73.4 million in convertible notes.
Carbon Revolution is based in Waurn Ponds, Geelong and manufactures one-piece carbon fibre wheels, which offer weight savings of 40 – 50 per cent as well as other advantages over aluminium alloys. Its ASX listing is expected within the next 12 months.
Subscribe to our free @AuManufacturing newsletter here.