Canatu sharpens commercial focus and accelerates long-term value creation with new strategy and updated long-term financial targets
Canatu Plc (CANATU, Nasdaq First North Growth Market Finland) announces a new strategy designed to transform its established innovation leadership in carbon nanotube (CNT) technology into a scalable, high-margin growth business.
The new strategy sharpens Canatu’s commercial focus and simplifies how the company operates. Canatu will concentrate its resources on the highest-value applications of its CNT technology, building on the innovation leadership the company has established in advanced carbon nanotubes. The strategy is underpinned by disciplined capital allocation and stronger commercial execution. Canatu believes that the new strategy strengthens its ability to create long-term shareholder value.
“Canatu has built a unique technology platform over the past two decades. Our strategy now focuses on turning our innovation leadership into commercial success through a more focused and disciplined, faster execution,” says Dr. Maximilian Slawinski, CEO of Canatu.
Canatu’s updated strategic priorities
Canatu’s new strategy is built around three priorities:
- Strengthening the Semiconductor business as the company’s primary growth engine and a source of recurring revenues by becoming a critical supplier to the semiconductor industry through its reactor business.
- Building Robotics, Mobility and Defence into a scalable product business focused on safety-critical, transparent heater and sensor applications in assisted and autonomous driving, robotics and defence markets with expected strong growth.
- Continuing to advance Medical Diagnostics through milestone-driven product development and disciplined commercialization.
Sharpening Canatu’s path to scalable growth
Canatu’s new strategy will be implemented through the Polaris transformation program, which brings together organizational, commercial, and operational changes designed to accelerate execution. Through Polaris, Canatu is moving from a research and development project-driven organization to an operating model centered on customer value creation and scalable business opportunities. As part of this shift, the company has simplified its governance model, strengthened its commercial and product management capabilities, and aligned innovation activities more closely with business execution.
Key actions already implemented include establishing dedicated Chief Marketing Officer and Chief Technology Officer organizations, integrating New Business Development into the business units, and streamlining the executive leadership structure. Canatu has also prioritized its product and project portfolio and tightened its principles for resource allocation.
Clearer commercial business model in Semiconductor
Canatu has chosen a reactor-based business model for its extreme ultraviolet (EUV) pellicle business. Canatu will sell CNT reactors, based on its proprietary Dry Deposition by CanatuTM platform, and related consumables to customers who develop and manufacture CNT-based EUV pellicles.
Canatu believes this business model:
- supports a capital-efficient growth strategy,
- expands the addressable customer base,
- creates recurring revenues through consumables, services, licensing and royalties, and
- accelerates scale-up.
In EUV inspection membranes, Canatu continues to operate with a product-based business model, manufacturing inspection membranes in its own factory in Finland.
Updated long-term financial targets
In connection with the new strategy, Canatu has decided to update its long-term financial targets as follows:
- Revenue exceeding EUR 100 million in 2030, followed by an outlook of at least 20% CAGR from 2030 to 2035
- Revenue per employee exceeding EUR 400 thousand in 2030
- Average annual capital expenditure below EUR 6 million from 2027 onwards
Canatu’s total CAPEX is expected to peak in 2026, amounting to a maximum of EUR 13 million, primarily due to the investments in the second factory and PELMIS EUV pellicle inspection system.
The updated targets replace the long-term financial targets published on 26 March 2026, including the EBIT margin target for 2030, which is not replaced with a new profitability target. Canatu prioritizes growth in this phase and expects profitability to strengthen as revenue scales.
The targets are supported by Canatu’s reactor-based business model in Semiconductor, increased focus on scalable product businesses and sustained capital efficiency.
The targets also build on the following key strategic milestones, which Canatu aims to reach in cooperation with its customers and partners in 2026–2030:
- Semiconductor
- Qualification of CNT-based EUV pellicles for device manufacturing
- Expansion of inspection membrane business
- Expansion of CNT-based EUV pellicles to memory chip production
- Robotics, Mobility and Defence
- Ramp-up of ADAS (advanced driver assistance systems) heater mass manufacturing
- Expansion of defence and robotics business
- Launch of 3D heater product
- Medical Diagnostics
- Start of FDA pathway in the USA
- Joint development agreement with a leading diagnostics company
- Launch of Canatu CNT-based testosterone test
“Our innovation foundation remains unchanged. What changes is how we execute. We are simplifying our operating model, sharpening our priorities and focusing our investments where we believe we can create the greatest shareholder value. Our vision is to build one of the world’s leading advanced CNT companies, capable of generating more than EUR 300 million in annual revenue by 2035,” says Dr. Slawinski.
The new strategy will be presented later today in the H1/2026 webcast by CEO Dr. Maximilian Slawinski and CFO Mikko Vesterinen.
The new strategy and the updated long-term financial targets will take effect immediately.
Change to the Company’s target communication
In connection with the new strategy, Canatu has decided to discontinue the publication of annual key operative targets. Accordingly, the key operative targets for 2026, published in connection with the financial statements bulletin for 2025, are withdrawn and the progress against them will no longer be reported. The company has concluded that publishing short-term operational targets is not in the best interest of the company and its shareholders, as such disclosures may, among other things, affect the company’s negotiating position in relation to its customers and suppliers. Going forward, Canatu’s communication will focus on the execution of its strategy: the company will continue to report on its long-term value drivers and progress in key development programs and will disclose all material events in accordance with the applicable regulation. The company’s financial outlook practice remains unchanged.
Additional information
Dr. Maximilian Slawinski, CEO, maximilian.slawinski@canatu.com
Mikko Vesterinen, CFO, mikko.vesterinen@canatu.com
Certified adviser
DNB Carnegie Investment Bank AB (publ), tel. +46 (0) 8 588 685 70
About Canatu
Canatu (CANATU, Nasdaq First North, Finland) is a deep technology scaleup company creating advanced carbon nanotubes (Canatu CNTs), related products, and manufacturing equipment for the semiconductor, robotics, mobility and defence, and medical diagnostics industries. Canatu partners with forerunner companies, together transforming products for better tomorrows with nano carbon.
Canatu’s versatile platform technology has broad potential applications. Its current core includes CNT membranes for extreme ultraviolet (EUV) processes in the semiconductor industry, enabling more effective manufacturing of the most advanced chips. Additionally, electrochemical sensors for medical diagnostics are in the development phase. Canatu’s patented CNT reactors and Dry Deposition by CanatuTM method yield clean and pristine CNTs. The company operates through two business models: selling CNT products directly, as well as selling CNT reactors and licensing the related technology so that customers can produce CNT products under a limited license.
Headquartered in Finland, Canatu also operates in the US, Japan and Taiwan. Founded in 2004 as a spin-off from Aalto University’s Nanomaterials Group, Canatu has 182 full-time equivalent employees representing over 35 nationalities, with nearly 20% holding or pursuing doctorates (as of 30 June 2026). Discover more at www.canatu.com and follow us on LinkedIn.
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