A Canadian company leveraging advanced cleantech to transform greenhouse emissions into high-performance carbon nano-fibres has secured a round of equity financing.
Calgary-based Carbonova this week announced the oversubscribed $5 million round a syndicate of strategic and private investors, building on a recent $4M grant from Emissions Reduction Alberta.
“Closing this round oversubscribed reflects strong confidence in our technology, our team, and our global potential,” stated Dr. Mina Zarabian, who serves as chief executive officer of Carbonova.
The influx of capital will enable Carbonova to advance construction of its first commercial demonstration unit in Calgary, which will convert captured CO₂ and natural gas into up to 25 tonnes of next-generation carbon nano-fibres per year, according to a statement from the Canadian startup.
“This funding accelerates our progress toward commercial demonstration and positions Carbonova to lead in low-carbon, high-performance materials,” Zarabian remarked.
The Canadian cleantech’s patented catalytic process outperforms alternatives like carbon black, graphite, or carbon nanotubes on quality, cost, carbon footprint, and ease of integration, according to Carbonova, which counts Fortune 500 companies among their customer ranks.
Moreover, Carbonova’s technology represents a unique export opportunity for Alberta, believes Zarabian, who was recently recognized as an Emerging Leader at the Global Energy Show Canada 2025 (while Carbonova itself accepted the Emerging Clean Technologies honour).
In this vein, the company intends to commission a full-scale plant and deploy modular, licensed units across industrial partner sites globally to meet “surging global demand for advanced materials, including next-generation battery components, lightweight composites, and other sustainable, carbon-negative products manufactured through CO₂ utilization.”
Despite global ambitions, Carbonova remains anchored in Alberta.
“Alberta is proving that climate leadership and industrial innovation can go hand-in-hand,” Zarabian said.
Front-End Engineering Design for the project is currently underway, according to the CEO.