Lightweight wheel maker Carbon Revolution is in a stand-off with the ASX which is keeping the company’s shares suspended from trading until it reveals the identity of a United States special purpose acquisition company. But Carbon Revolution says the SPAC has forbidden it from doing so.

The ASX is annoyed at the lack of disclosure by the company which is held up as a potentially big beneficiary from the global shift towards electric vehicles, with its carbon fibre wheel rims about 40 per cent lighter than traditional aluminium rims.