Carbonova, the Canadian company developing carbon nanofibres (CNFs) from greenhouse gas emissions, has closed an oversubscribed C$5.1 million equity financing round from a syndicate of strategic and private investors.

This follows the company’s recent success in securing $4.38 million in grant funding from Emissions Reduction Alberta (ERA), underscoring growing investor and institutional confidence in Carbonova’s technology and commercialisation roadmap. 

The remaining capital needs for a C$13.6 million commercial demonstration unit are being met through a blend of strategic cash investments, in-kind participation from partners and capital raised in prior rounds, fully enabling the company to move forward with project execution.

The new capital will enable Carbonova to advance construction of the first commercial demonstration unit (CDU-25) in Calgary, which will convert captured CO2 and natural gas into 25 tons of CNFs annually. Front-end engineering design is already well underway and progressing quickly, with the CDU on track for commissioning in mid-2027.

“Closing this round oversubscribed reflects strong confidence in our technology, our team and our global potential,” said Dr Mina Zarabian, CEO of Carbonova. “This funding accelerates our progress towards commercial demonstration and positions us to lead in low-carbon, high-performance materials.”

The CNFs produced by Carbonova’s patented catalytic process are said to outperform alternatives like carbon black, graphite and carbon nanotubes on quality, cost, carbon footprint and ease of integration. The company has secured commercial traction in key markets, including plastics and composites, conductive materials for lithium-ion batteries and construction materials.

Carbonova’s technology represents a unique export opportunity for Alberta. Its production can be scaled quickly and its lightweight, high-value CNF offtake can be transported using existing infrastructure, enabling efficient market access.

Upon completion of the CDU, Carbonova plans to commission a full-scale plant and deploy modular, licensed units across industrial partner sites globally. These will enable the company to meet surging global demand for advanced materials, including next-generation battery components, lightweight composites and other sustainable, carbon-negative products manufactured through CO2 utilisation.

www.carbonova.com