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.
![](https://carbomatinc.com/wp-content/uploads/2023/10/Carbomat_Problem_Defination_MV1.jpg)
![](https://carbomatinc.com/wp-content/uploads/2023/10/Carbomat_Problem_Defination_MV2.jpg)
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.
![](https://carbomatinc.com/wp-content/uploads/2023/10/Chart-png.png)
$230/ kg
$115/kg
$27/kg
$25/kg
$15/kg
Carbon Fiber Market Projection
![](https://carbomatinc.com/wp-content/uploads/2023/10/Carbomat_Problem_Defination.jpg)
Production cost share of PAN CF
![](https://carbomatinc.com/wp-content/uploads/2023/10/Mitigation-Ultro-Pro-Max.png)
$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
![](https://carbomatinc.com/wp-content/uploads/2023/10/CarboMat-Technology-solution-1024x388.png)
Competitive Advantage of our Technology
![](https://carbomatinc.com/wp-content/uploads/2023/10/Figure-new11.png)
Post -Spinning
Spinning
Pre-processing
Post-spinning
Spinning
Pre-processing
~60% decrease in CF production cost with our technology
![](https://carbomatinc.com/wp-content/uploads/2023/10/Figure-new12.png)
Post-spinning
Spinning
Pre-processing
Post-spinning
Spinning
Pre-processing
~50% decrease in GHG emissions with our technology
Our Success Pathway
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_85.png)
![](https://carbomatinc.com/wp-content/uploads/2024/07/Canadian_Natural_Logo.svg.png)
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_83.png)
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_82.png)
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_81.png)
- 100+ Customer Discovery
- 5-10 Strategic Partnerships
- 8 Signed LOIs
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_86.png)
![](https://carbomatinc.com/wp-content/uploads/2024/07/Screenshot_64.png)
![](https://carbomatinc.com/wp-content/uploads/2023/10/CarboMat_Logo_web.png)
Formation of company for business development and commercialization
![](https://carbomatinc.com/wp-content/uploads/2023/10/Timeline-4.png)
Received Seed Fund from The University of Calgary, Canada to growth the business.
![](https://carbomatinc.com/wp-content/uploads/2023/10/Timeline-3.jpg)
CF reinforced bio composites
Proof-of-concept
![](https://carbomatinc.com/wp-content/uploads/2023/10/pathway-1.jpg)
Concept Feasibility
Scale-up to 10g/day
![](https://carbomatinc.com/wp-content/uploads/2023/10/pathway-1.jpg)
Proof of concept.
Industry Applications
![](https://carbomatinc.com/wp-content/uploads/2023/10/layers.png)
Composite Material Industry
![](https://carbomatinc.com/wp-content/uploads/2023/10/sports-car.png)
Automobile Industry
![](https://carbomatinc.com/wp-content/uploads/2023/10/air-force.png)
Aerospace Industry
![](https://carbomatinc.com/wp-content/uploads/2023/10/sports.png)
Sports
![](https://carbomatinc.com/wp-content/uploads/2023/10/park.png)
Leisure
![](https://carbomatinc.com/wp-content/uploads/2023/10/shield.png)