Canatu signs Memorandum of Understanding with DENSO to commercialize CNT products
VANTAA, FINLAND – December 4, 2024 — Canatu (CANATU, Nasdaq First North, Finland) has signed a Technology Memorandum of Understanding (MOU) with DENSO CORPORATION to advance the commercialization of transparent heaters while also accelerating new product development. Canatu and DENSO will strengthen their cooperation in research and development, mass production technology, and global supply chain exploration. This partnership leverages Canatu’s carbon nanotube (Canatu CNT) technology to deliver new value-add to customers around sustainable mobility. Integrating Canatu’s carbon nanotube technology, DENSO focuses on promoting efforts toward the practical application of transparent heaters while also launching a joint development project with Canatu for a new solution. With its expertise in automotive solutions and commitment to carbon neutrality, DENSO drives innovation toward a sustainable mobility future. This partnership builds on the long-standing cooperation and existing agreements between Canatu and DENSO.
At signing in Finland on November 11, 2024, DENSO’s Head of Business Unit, Toshihiko Muraki, stated:
“Achieving carbon neutrality is at the core of our mission. Our collaboration with Canatu reflects our commitment to creating innovative solutions that drive sustainable mobility. By combining Canatu’s groundbreaking carbon nanotube technology with DENSO’s expertise, we aim to develop systems that not only enhance vehicle performance but also significantly reduce environmental impact, contributing to a cleaner, greener future.”
“Reducing energy consumption is a critical priority in the automotive industry, especially for electric vehicles. Through this collaboration, DENSO and Canatu aim to lower energy consumption and generate new power with a novel and efficient energy-capturing solution,” said Juha Kokkonen, CEO of Canatu.
Key areas of collaboration
To expand the applications of Canatu CNT technology, Canatu will accelerate and intensify its collaboration with DENSO in the following three key areas:
- Research and development: in addition to Canatu CNT-based transparent heaters, the two companies aim to develop new application technologies, such as solar panels.
- Mass production technology: further joint development of Canatu CNT manufacturing equipment and processes, ensuring compliance with automotive quality standards required for mass production.
- Establishing a global supply chain: exploring supply systems to ensure stable and reliable delivery of CNT products worldwide.
The key projects under the above-mentioned main areas focus on further improving the performance of Canatu’s high-performance reactors to meet the production capabilities of target products and establishing a new global supply chain scheme to meet automotive requirements.
The program with DENSO is currently in the R&D cooperation/exploratory stage, and there are no guarantees of future revenues or profits materializing from it. At present, there is no material immediate impact on revenue or profit. Any potential revenue or profit impact in the future is subject to material uncertainties, including the outcomes of the current R&D phase. Notably, DENSO is one of Canatu’s largest shareholders.
Additional information
CEO Juha Kokkonen, tel. +358 405 430 367
Certified Adviser
Carnegie Investment Bank AB (publ), tel. +46 (0)73 856 42 65
About Canatu
Canatu (CANATU, Nasdaq First North, Finland) is a fast-growing deep technology company creating advanced carbon nanotubes (Canatu CNTs), related products, and manufacturing equipment for the semiconductor, automotive, 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 the manufacturing of the most advanced chips, as well as film heaters for advanced driver-assistance systems (ADAS) in the automotive industry. Additionally, electrochemical sensors for medical diagnostics are in the development phase. Canatu’s patented CNT reactors and Dry DepositionTM 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 currently has around 130 employees representing over 30 nationalities, with 20 percent holding or pursuing doctorates. Discover more at www.canatu.com and follow us on LinkedIn.
About DENSO CORPORATION
Globally headquartered in Kariya, Japan, DENSO is a $47.2 billion leading mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in around 180 facilities worldwide to provide opportunities for rewarding careers and to produce cutting-edge electrification, powertrain, thermal and mobility electronics products, among others, that change how the world moves. In developing such solutions, the company’s 162,000 global employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. DENSO spent around 7.7 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2024. For more information about DENSO’s operations worldwide, visit https://www.denso.com/global.
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