Carbonova, a cleantech company based in Calgary, has closed a C$5.1mn ($3.75mn) equity funding round from a syndicate of strategic and private investors. This financing is part of a broader C$13.6mn ($10mn) project to commission an industrial demonstration unit producing carbon nanofibres from captured carbon dioxide and natural gas.
The completion of this funding round follows the recent award of a C$4.38mn ($3.22mn) grant from the public agency Emissions Reduction Alberta (ERA). The remaining capital required for the project is covered through previous capital raises and in-kind contributions from industrial partners. This financial structure now enables the company to begin operational execution of the project.
A pilot unit for advanced material production
Named CDU-25, the demonstration unit under construction in Calgary will produce 25 tonnes of next-generation carbon nanofibres annually. The process developed by Carbonova is based on a proprietary catalytic technology that is said to outperform conventional materials such as carbon black, graphite or carbon nanotubes in terms of cost, carbon impact and industrial integration.
Front-End Engineering Design (FEED) is already underway, with commissioning of the unit scheduled for mid-2027. This milestone is considered critical before scaling up to full industrial deployment.
Applications in batteries and construction materials
Carbonova is targeting markets including plastics, composites, conductive materials for lithium-ion batteries, and construction materials. The company claims to have secured initial commercial agreements, including with Fortune 500 firms, without disclosing specific names.
Following the demonstration phase, Carbonova’s industrial strategy includes building a full-scale production plant and deploying licensed modular units at partner sites. According to the company, this modular approach will meet growing global demand for low-carbon materials, particularly in electrification, automotive and building sectors.
Exportable production compatible with existing infrastructure
The lightweight and high-value nature of the nanofibres facilitates export, according to the company, leveraging existing logistics infrastructure. This positioning could make Alberta a hub for advanced materials production from CO₂ valorisation, at the intersection of the energy and technical materials sectors.
“This funding reflects strong confidence in our technology, our team and our global potential,” said Dr Mina Zarabian, Chief Executive Officer of Carbonova.
