Haycarb to expand energy storage carbon operations

Haycarb PLC agreed with the Board of Investment of Sri Lanka to expand its specialised manufacturing operations for energy storage carbon, securing an additional investment of 18.18 million US dollars.

The company delivered a resilient performance in the 2026 financial year, recording pre-tax earnings of Rs. 5.52 billion and post-tax earnings of Rs. 4.27 billion. This performance retained its position as a leader in innovative coconut shell activated carbon solutions across a wide range of applications. Strategic manufacturing facilities currently operate in Sri Lanka, Thailand, and Indonesia.

The latest venture, Haycarb Philippines Corporation, received approval from the Board of Investments of the Philippines to establish an activated carbon manufacturing facility. Scheduled for commission in the first half of 2027, the first phase aims to enhance the manufacturing footprint and strengthen the position of the company in the coconut shell-based charcoal supply chain.

The share price of the company gained three per cent yesterday, rising by Rs. 4.50 to close at Rs. 148.