Calgary-based Carbonova’s patented, energy-efficient process is transforming GHGs into valuable carbon nanofibers.
As climate impacts intensify, Canadian innovators are finding new ways to not only reduce emissions—but to convert them into valuable materials that unlock new markets and revenue, accelerating the circular economy. Carbon capture, utilization, and storage (CCUS) technologies are at the forefront of this shift, with the global CCUS market projected to reach USD 12.9 billion worldwide by 2030, driving jobs and innovation in the process.
Among the emerging leaders is Calgary-based Carbonova, whose patented, energy-efficient process transforms CO₂ and methane—two major greenhouse gases—into high-performance carbon nanofibers (CNFs). These nanofibers are used in products like batteries, plastics, and concrete to enhance properties such as conductivity, strength, weight reduction and cost savings. Unlike many carbon solutions, Carbonova’s approach avoids the need for long-term storage, offering a carbon-negative, revenue-generating solution for industrial decarbonization.
Foresight's Stacey Armstrong, Senior Manager of Digital Marketing, recently spoke with Carbonova Co-founder and CEO Mina Zarabian, to discuss their transformative technology and their customer-centric approach to cleantech adoption. Here's what she shared.
Building the Business
Q: You’ve scaled your technology multiple times. What key lessons or turning points shaped that journey—especially while scaling in Alberta?
A: We’ve scaled from gram-scale lab tests to a pilot plant producing 20 kg of CNFs per year—a more than 1,000x increase. Alberta provided the industrial infrastructure and technical talent to support this growth, but the real breakthroughs came from aligning technical insights with commercial needs. A key milestone was redesigning our reactor to operate at lower pressures while maintaining product quality—significantly cutting both capital and operating costs.
Another key insight was aligning our materials with customer specifications. Whether they need electrical conductivity for battery electrodes or tensile strength for plastic reinforcement, our product must seamlessly integrate into their processes. That mindset is now guiding the design of our 25-tonne commercial demonstration unit (CDU), which will convert 50 tonnes of CO₂ annually for two anchor customers: Kolon Industries, a lithium-ion battery manufacturer in Asia, and a sustainable packaging leader in North America. This CDU has also opened licensing discussions with partners in Canada and Asia. Each step—from lab to pilot to pre-commercial—has taught us that building trust through technical performance and specification alignment are key to long-term success.
Q: What does a “customer-oriented product development team” mean in a cleantech context—and why does it matter?
A: In cleantech, a breakthrough doesn’t guarantee adoption—products need to fit seamlessly into a customer’s existing systems and meet their performance requirements. Building a customer-oriented product development team means starting with the end users in mind. At Carbonova, our team works side-by-side with customers to understand what matters—whether it’s electrical conductivity, material strength, or process compatibility.
As we scaled our technology, one of the biggest lessons we learned was product-market fit isn't just about cost or sustainability—it’s highly practical. Every milestone—whether it’s technical optimization or licensing discussions—reinforces that adoption depends on solving real-world problems.
Q: Adoption can be slow, even with strong tech. What have you learned about driving market traction?
A: You need to speak the customer’s language. Even revolutionary tech won’t scale if it doesn’t meet cost, performance, and compatibility requirements. We focus on fitting within their manufacturing workflows, providing performance data, and showing how we add value. Early traction—like improving recycled plastic strength or boosting battery performance—helped build trust. And in this space, trust is what drives adoption.
Collaboration for Growth
Q: You’re part of Foresight’s Earth Tech cohort. How has Canada’s cleantech ecosystem supported your growth?
A: Foresight has been instrumental in accelerating Carbonova’s visibility, momentum, and industry reach. The Executive-in-Residence (EiR) program has been especially valuable—providing focused, high-quality advisory support that’s helped us navigate both technical and strategic decisions during a critical growth phase. Through Foresight’s network, we’ve connected with potential partners, advisors, and cleantech leaders whose impact will continue to benefit us for years to come.
Foresight also amplified our visibility through awards and recognition. With their guidance and support, we’ve had the opportunity to apply for and become contenders in the Alberta Cleantech Awards (Venture of the Year – Startup Category), the Calgary 50 List, and are currently finalists for the Climate Solutions Trailblazer Prize. These opportunities have helped raise our profile and validate our work as we move toward commercial deployment.
Up Next for Carbonova
Q: What should we watch for in the next 12–24 months?
A: We’re completing the design details for our first commercial demonstration unit, scaling production, and finalizing offtake and licensing agreements. Expect to see Carbonova CNFs moving from the pilot stage to full commercial validation—particularly in lithium-ion batteries, sustainable packaging, and low-carbon concrete. These next 24 months are all about translating momentum into market leadership.
Q: You’ve raised $15M in funding. What were the biggest takeaways—and how is that shaping the next chapter?
A: While $15M is a significant figure, it wasn’t the result of a single raise—it’s the outcome of relentless, multi-pronged effort over several years. We’ve pursued every possible funding avenue, from angel investment to government grants and strategic SAFE agreements, each requiring deep technical validation and a clear commercialization roadmap. In many ways, the real milestone wasn’t the money itself—it was proving, repeatedly, that Carbonova’s technology could meet the rigorous criteria demanded by both public and private funders.
One of our most strategic investors is Kolon Industries—a South Korean conglomerate that saw the potential of our CNFs in lithium-ion batteries. Their investment has opened doors in Asia and reinforced our global scale-up strategy. At the same time, non-dilutive grants from Emissions Reduction Alberta (ERA), Sustainable Development Technology Canada (SDTC), and Natural Resources Canada Industrial Research Assistance Program (NRC-IRAP) have given us the freedom to advance our pilot and pre-commercial systems without compromising equity.
Carbonova is scaling up to build its first CDU in Alberta, targeting commissioning by 2026/2027. This milestone is being supported by a range of strategic partners across key sectors such as composites, energy storage, and construction. These collaborations are helping to de-risk product-market fit, secure offtake, and validate CNF performance in real-world applications—laying the foundation for broader commercial deployment.
Q: What advice do you have for other cleantech founders going from lab to market?
Build fast, but learn faster. Focus on what your customers actually need—don’t wait for the perfect conditions to start deploying your technology. Surround yourself with partners who push you, and celebrate small wins—they add up! Scaling hard tech is tough, but if your mission is clear, people will get behind you.
Alberta is emerging as a powerful hub for cleantech innovation. Want to learn more? Connect with our regional team.
