Carbonova is set to receive direct funding from Sustainable Development Technology Canada (SDTC) to the tune of CAD $2 million (US $1.48 million). The funding will go towards further developing Carbonova’s technology for producing solid carbon nanofibers from greenhouse gas.
“The funding from SDTC will materially contribute to the development and commercialization of Carbonova’s game changing technology.” said Dr. Mina Zarabian, Co-Founder and CEO of Carbonova. “Advancement from the existing pilot scale to a small commercial unit is expected to significantly expand opportunities for applications of our technology globally.”
Carbonova’s technology uses CO2 and methane to produce a solid carbon commodity. Carbon nanofibers have a broad range of applications. Some of the more prominent ones are as composite additives and batteries, with the latter’s expected to grow as electrification is stepped up across global economies.
The joint project between Carbonova and Sustainable Development Technology Canada is called “Scaling up Production of Carbon Nanofibers from Greenhouse Gases” and has preset milestone that track each phase of development and achievement – concept design, pre and final front end engineering design of a novel modular commercial unit.
The funding will allow the company to scale its operations and tap into processes that are currently seen as waste streams in industrial production. If successful it will work in two directions – creating new products of value, while simultaneously reducing carbon dioxide emissions in the atmosphere.
This is not the first funding Carbonova has received. The Emissions Reductions Alberta organization awarded the company CAD $543,000 (US $400,000) back in March, 2022.
Carbonova is also a member of Greentown Labs, the largest climate tech startup incubator in North America.