Exhibit 99.1

Carbon Revolution Public Limited Company

Condensed Consolidated Statement of Financial Position

(Unaudited)

	US $’0001						AU $’000
	31 Dec 2024			30 June 2024			31 Dec 2024			30 June 2024
Current assets
Cash and cash equivalents		2,108			2,594			3,012			3,705
Restricted trust funds		1,798			472			2,568			674
Receivables		5,398			5,976			7,713			8,538
Contract assets		12,855			9,766			18,364			13,952
Inventories		22,410			20,185			32,014			28,836
Other current assets		489			1,535			699			2,193
Total current assets		45,058			40,528			64,370			57,898
Non-current assets
Restricted trust funds		3,019			4,901			4,313			7,001
Total non-current assets		3,019			4,901			4,313			7,001
Total assets		48,077			45,429			68,683			64,899
Current liabilities
Payables		43,488			31,671			62,128			45,247
Borrowings		9,193			9,810			13,131			14,013
Lease liability		517			494			738			705
Contract liabilities		4,360			771			6,229			1,102
Deferred income		2,074			1,480			2,963			2,114
Provisions		2,733			3,051			3,904			4,359
Total current liabilities		62,365			47,277			89,093			67,540
Non-current liabilities
Borrowings		137,671			98,597			196,673			140,853
Payables		846			10,635			1,209			15,193
Derivative liability		897			372			1,282			531
Lease liability		4,820			4,943			6,886			7,061
Contract liabilities		-			3,169			-			4,527
Deferred income		9,782			9,326			13,974			13,323
Provisions		2,202			1,984			3,145			2,834
Total non-current liabilities		156,218			129,026			223,169			184,322
Total liabilities		218,583			176,303			312,262			251,862
Net (liabilities) / assets		(170,506	)		(130,874	)		(243,579	)		(186,963	)
(Deficiency in equity) / equity
Contributed equity		-			-			-			-
Warrants		9,014			5,253			12,877			7,504
Reserves		1,926			1,392			2,752			1,989
Accumulated losses		(181,446	)		(137,519	)		(259,208	)		(196,456	)
Total (deficiency in equity) / equity		(170,506	)		(130,874	)		(243,579	)		(186,963	)

¹All USD figures converted from AUD to USD at 0.7 for convenience.

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Carbon Revolution Public Limited Company

Condensed Consolidated Statement of Profit or Loss and

Other Comprehensive Income

(Unaudited)

	US $’0002						AU $’000
	Six Months Ended December 31,						Six Months Ended December 31,
	2024			20233			2024			20233
Sale of wheels		26,912			23,881			38,446			34,116
Engineering services		941			1,038			1,344			1,483
Sale of tooling		4,192			931			5,988			1,330
Revenue		32,045			25,850			45,778			36,929
Cost of goods sold		(31,273	)		(37,032	)		(44,676	)		(52,903	)
Impairment expense		(3,172	)		-			(4,532	)		-
Gross margin		(2,400	)		(11,182	)		(3,430	)		(15,974	)
Other income		907			4,293			1,296			6,133
Finance income		39			-			56			-
Operational expenses		(3,370	)		(1,884	)		(4,814	)		(2,692	)
Research and development		(4,585	)		(5,253	)		(6,550	)		(7,504	)
Administrative expenses		(7,512	)		(5,783	)		(10,732	)		(8,261	)
Marketing expenses		(514	)		(456	)		(734	)		(653	)
Capital raising transaction costs		(1,525	)		(21,043	)		(2,179	)		(30,061	)
Finance costs		(24,025	)		(12,568	)		(34,321	)		(17,954	)
Loss before income tax expense		(42,985	)		(53,876	)		(61,408	)		(76,966	)
Income tax expense		-			-			-			-
Loss for the period after income tax		(42,985	)		(53,876	)		(61,408	)		(76,966	)
Other comprehensive income
Items that may be reclassified subsequently to profit or loss:
Foreign currency translation differences - foreign operations		695			509			993			727
Other comprehensive income		695			509			993			727
Total comprehensive loss for the period, net of tax		(42,290	)		(53,367	)		(60,415	)		(76,239	)

² All USD figures converted from AUD to USD at 0.7 for convenience.

³ Restated

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