Inside information: Canatu launches Carbon Age program for which it has received EUR 10 million funding granted by Business Finland

VANTAA, FINLAND – March 26, 2025 — Canatu Plc (“Canatu”) has today received a positive funding decision from Business Finland granting it a maximum of EUR 10 million of funding to launch its Carbon Age program as part of Business Finland’s challenge competition for leading companies.

The semiconductor industry is in urgent need of new alternatives as traditional materials approach their limits. To address this, Canatu has launched a Carbon Age program, which aims to drive the development of semiconductor technologies enabled by carbon nanotubes (CNTs) and build a dedicated industry ecosystem.

In addition to Canatu’s share of the funding amounting to a maximum of EUR 10 million in grants allocated over five years, Business Finland is committed to funding future projects of the Carbon Age ecosystem partners with up to EUR 20 million. The payment of the funding granted to Canatu is tied to the goals of the program.

The five-year program, with over 40 targeted partners, will create a dynamic ecosystem, offering unique opportunities for expertise sharing, value capture, and market-driven innovation. Beyond technological advancements, the program aims to contribute to creating new jobs and boosting revenue for Finland’s technology ecosystem. With plans to build a pilot fab as well, the initiative aims to position Finland as a global leader in semiconductor technologies built on carbon nanotubes.

“We are excited to innovate with nano carbon to accelerate the arrival of the Carbon Age and establish a ‘Nano Valley’ in Finland. By building a world-class ecosystem, we drive innovation, collaboration, and new business opportunities, boosting long-term global competitiveness for us and our partners,” says Juha Kokkonen, CEO at Canatu.

The program aims to standardize carbon nanotube structures, as well as the design and manufacturing guidelines, to establish consistent methods for integrating and converting them into components, devices, and advanced applications with enhanced functionalities. Nanocarbon materials present a strong alternative to traditional materials like silicon, thanks to their exceptional electrical, mechanical, and thermal properties, unlocking new possibilities for cutting-edge technologies. From faster transistors to quantum computing and biosensors, carbon nanotubes offer a breakthrough – paving the way for more efficient and scalable semiconductor components.

“This program will not only lay a solid foundation for Finland’s role in nanocarbon era but also create entirely new device categories and functionalities. With the initiative, Canatu is pioneering a new generation of semiconductors based on carbon that will drive performance, energy efficiency, and sustainability beyond what’s possible today,” says Ilkka Varjos, Chief Technology Officer at Canatu.

Canatu’s advanced carbon nanotubes (CNT) set a new bar among advanced materials making them the key to future semiconductor innovation. Canatu CNT is used in highly engineered solutions, where precision, performance and reliability are vital. The company’s main focus today is on the semiconductor and automotive industries.

Additional information

CEO Juha Kokkonen, tel. +358 405 430 367

Chief Technology Officer Ilkka Varjos, tel. +358 400 372 785

Member of the Board of Directors Tuomo Vähäpassi, tuomo.vahapassi@lifeline-spac1.com

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 Deposition^TM 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.