CarboMat Inc. secures $4.1M of combined non-dilutive grant funding to transform low-value oil sands asphaltenes into high value carbon fibers

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.

Supported by the GRInSTEM Fellowship Award and Alberta Innovates over the past 2 years, CarboMat Inc. is at the forefront of eco-friendly advancements in the materials industry. Our cutting-edge low-carbon technology promises to transform various sectors, including automotive, sports, and leisure, with multifunctional applications.

This funding will drive us towards creating Canada’s first commercial demonstration unit, marking a significant milestone in sustainable industrial innovation which will take us one step closer towards decarbonization and a net-zero future. Join us as we pave the way for a greener, more efficient future.