#Canada #Calgary #Alberta #Carbonova #Carbon Nanofibers

Carbonova Secures Financing for Carbon Nanofiber Growth

Carbonova, a cleantech leader focused on converting greenhouse gas emissions into advanced carbon nanofibers, has recently announced a significant achievement in securing C$5.1 million in an oversubscribed equity financing round. This cements the company's financial backing from both strategic and private investors, reflecting a robust belief in the company's innovative technology and vision.

The funding comes on the heels of Carbonova securing an additional C$4.38 million in grant funding from Emissions Reduction Alberta (ERA), showcasing enhanced trust in Carbonova's commitments to environmentally sustainable practices. The total capital required for the ambitious C$13.6 million Commercial Demonstration Unit (CDU) will be achieved through this combination of equity financing, strategic investments, and support from industry partners.

The primary goal of this funding is to push forward the construction of Carbonova's inaugural commercial demonstration unit, designated as CDU-25, located in Calgary. This facility is designed to convert captured CO₂ and natural gas into 25 tonnes of next-generation carbon nanofibers each year. With the Front-End Engineering Design (FEED) already in accelerated progress, the CDU is slated for commissioning by mid-2027.

Dr. Mina Zarabian, CEO of Carbonova, expressed that the successful closure of this financing round symbolizes unwavering confidence in their team and technology. He emphasized that this funding will significantly accelerate the company's trajectory toward commercial demonstration and strengthen Carbonova's position as a pioneer in low-carbon, high-performance materials.

Carbonova's patented process for producing carbon nanofibers sets it apart from traditional materials such as carbon black, graphite, or carbon nanotubes. These nanofibers excel not only in quality and cost-effectiveness but also in their lower carbon footprint. The technology has already gained traction in diverse markets, notably in industries demanding conductive materials, lightweight composites, and construction materials—often counting Fortune 500 companies among its clientele.

Moreover, Carbonova’s innovation presents a notable export opportunity for Alberta. The technology is readily scalable, meaning production can be ramped up quickly to meet demand. Its lightweight, high-value carbon nanofibers can efficiently utilize existing transportation infrastructure, ensuring smooth market access.

Upon successful completion of the CDU, Carbonova plans to commission a full-scale production facility and deploy modular, licensed units at partner sites globally. With this expansion, they aim to keep pace with the increasing global demand for advanced materials, particularly in sectors like next-generation battery technologies and other sustainable, carbon-negative products derived from CO₂ utilization.

About Carbonova

Carbonova is dedicated to transforming CO₂ and methane emissions into high-performance carbon nanofibers, which are crucial components in batteries, composites, and construction materials. Headquartered in Calgary, the firm is at the forefront of driving the transition towards a sustainable, circular economy by providing cost-effective and scalable alternatives to conventional carbon materials. For further information on Carbonova's initiatives and technology, visitors can explore carbonova.com.