A company that makes carbon fibre wheels so cars look good is hoping to raise $90.1m to list on the ASX.

Carbon Revolution, which is aiming to list on the bourse by November 29 with a market cap of $331m, is offering shares at $2.60 a pop, with the broker firm and priority offers to open this time next week.

The company was founded in Geelong over a decade ago to develop and commercialise single piece carbon fibre wheel technology originally developed by its four founders, three of whom remain with the company.

If you’ve ever had to change a tyre, you’ll know wheels are pretty heavy, and Carbon Revolution chairman James Douglas says the key advantage of the carbon fibre wheels it makes is the weight.

“They are lighter than traditional automotive wheel materials, primarily steel and aluminium, for a given level of stiffness and durability. This weight saving delivers significant performance and efficiency benefits,” he says in the company’s prospectus.

Its wheels are purchased by original equipment manufacturers, such as Ford, Ferrari and Renault, and it pulled in $15.1m in revenue in FY19, nearly double that of FY18, although it incurred a net loss of $22.4m.

It is forecasting a 312 per cent increase in revenue for FY20, saying that with a commercialised product a big windfall is just around the corner.

Carbon Revolution would list under the code CBR. The offer opens November 18 and closes November 25.