Transforming Low-Value Materials To High-Value Carbon Fibers

Breaking News!! CarboMat Inc. secures $4.1M

On December 6, 2023, Calgary, Alberta – CarboMat Inc. proudly announces the acquisition of $3.8 million of non-dilutive grant funding from Emissions Reduction Alberta (ERA) and Alberta Innovates. This funding is a crucial part of a larger $5.08 million project aimed at revolutionizing the production of low-cost, sustainable, and high-value carbon fibers from low-value waste by-products like oil sands asphaltenes. This 3-year project would focus on production scale-up to build a kg-scale pilot facility, complete extensive R&D to improve product quality, and accelerate customer guided product development towards development of a minimum viable product.

Let's talk about the business

CarboMat Inc. was founded in early 2022 as a spin-off from the University of Calgary with the support of the GRInSTEM Fellowship Award from the Global Research Initiative (GRI).

Our business strives to develop a less GHG-intensive technology to produce low-cost and high-value carbon fibers from low-value waste by-products such as oil sands asphaltenes for multifunctional applications in the composite industry (e.g., automotive, sports, leisure, etc.).

Our Value Proposition

The Problem

High production cost of PAN-based commercial carbon fibers due to expensive precursor cost.

Production cost share of PAN CF

Mitigation

Lowering the carbon fiber production cost facilitates widespread applications of carbon fibers in multiple commercial sectors with reduced costs and higher affordability.

$230/ kg

$115/kg

$27/kg

$25/kg

$15/kg

Carbon Fiber Market Projection

Production cost share of PAN CF

$230/ kg

$115/kg

$27/kg

$25/kg

$15/kg

Carbon Fiber Market Projection

Cutting the precursor cost by half will lead to ten-fold increase in market growth

Our Solution: Carbon Fiber from Asphaltene

Paving the way towards lightweight materials

Competitive Advantage of our Technology

Post -Spinning

Spinning

Pre-processing

Post-spinning

Spinning

Pre-processing

~60% decrease in CF production cost with our technology

Post-spinning

Spinning

Pre-processing

Post-spinning

Spinning

Pre-processing

~50% decrease in GHG emissions with our technology

Our Success Pathway

June 2020
Phase 1 ($50k)

Proof of concept.

August 2021
Phase II ($500K)

Concept Feasibility
Scale-up to 10g/day

Feb 2022
AI Biofiber Program ($200K)

CF reinforced bio composites
Proof-of-concept

May 2022
GRINsTEM Award ($250K)

Received Seed Fund from The University of Calgary, Canada to growth the business.

March 2022
Commercialization

Formation of company for business development and commercialization

2022
2023
$300,000 + $60,000
2023
$15,000
  • 100+ Customer Discovery
  • 5-10 Strategic Partnerships
  • 8 Signed LOIs
2023
2023
$3,800,000
2024
$300,000
2024
$60,000

Industry Applications

Composite Material Industry

Automobile Industry

Aerospace Industry

Sports

Leisure

Defense

Our Partners

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