Canatu’s new Carbon Age program receives 10 MEUR funding from Business Finland

Translation: Original published in Finnish on 03/26/2025 at 02:48 pm EET

On Wednesday, Canatu announced that it will launch the Carbon Age program, for which it has received 10 MEUR funding from Business Finland. The grant is allocated over five years, in addition to which Business Finland is committed to funding future projects of the Carbon Age ecosystem partners with up to 20 MEUR. The payment of the funding granted to Canatu is tied to the goals of the program. The program aims to involve over 40 partners.

Carbon nanotubes can play a bigger role in semiconductors in the long run

According to the release, the program aims to standardize guidelines for the design, manufacture and structures of carbon nanotubes. This allows for the creation of consistent methods for integrating and converting carbon nanotubes into components, devices, and advanced applications with enhanced functionalities. Carbon nanomaterials are a strong alternative to traditional materials such as silicon, thanks to their exceptional electrical, mechanical, and thermal properties, opening up new possibilities for cutting-edge technologies. Carbon nanotube-based semiconductor components could offer breakthroughs in, e.g., faster transistors, quantum computing, and biosensors.

Already in connection with its listing last fall, Canatu commented that research projects are currently underway in the semiconductor industry to find a future replacement for silicon as a raw material for silicon wafers. At the moment, it seems that at some point in the 2030s, technological progress will require replacing silicon. Due to their properties, CNTs are considered a potential material to replace silicon. If this scenario were to materialize, it would enable Canatu to take a larger share of the semiconductor industry value chain. The program now announced is one step towards achieving this and a demonstration of the optionality offered by Canatu's technology for new application areas.

Carbon nanotube-based transistors were already on Canatu's list of potential expansion areas, and now the funds raised from the SPAC listing are being invested at least in this area. From Canatu's perspective, it is also positive that Business Finland is supporting these investments with significant funding. We will probably hear more about Canatu's investment plans in Friday's earnings call, which you can watch here.