Canatu’s strategy

Canatu’s strategic vision is structured around three primary industries: the semiconductor industry, the automotive industry, and the medical diagnostics industry. This approach is designed to firstly take advantage of the more lucrative industries where Canatu has already developed and largely commercialised the needed technological applications.

Each of these industries represents a global niche market with high margin potential, aligning with Canatu’s strategy to position itself as a manufacturer of advanced carbon nanotubes for processes and products that transform industries.

Semiconductor strategy

The semiconductor industry is currently the cornerstone of Canatu’s operations, contributing 82 per cent (EUR 11,146 thousand) of Canatu’s net revenue in 2023. Canatu also expects the semiconductor industry to generate a significant share of its total revenue in short and medium term. Canatu aims to continue product development and investments in this industry to maintain its competitive edge and meet the changing needs of its customers.

Currently, Canatu’s debris filters are in mass manufacturing, which generates consistent revenue. Even in EUV pellicle business, where Canatu is currently selling CNT reactors as a one-time purchase, the company still receives recurring revenue through royalty payments from technology licensing and through sales of CNT consumables.

A key aspect of Canatu’s strategy in the semiconductor industry is its business model that generates recurring revenue. Debris filters need to be replaced by customers at regular intervals, creating a steady and recurring revenue stream. Even in EUV pellicle business, where Canatu is currently selling CNT reactors as a one-time purchase, Canatu still receives recurring revenue through royalty payments from technology licensing and through sales of CNT consumables. In Canatu’s view, this aspect of the business model supports sustained demand and fosters long-term relationships with customers, which Canatu expects to provide a good foundation for its future growth.

Automotive strategy

In 2023, the automotive industry contributed approximately 18 per cent (EUR 2,445 thousand) of Canatu’s net revenue, highlighting its current significant role in Canatu’s business. Canatu has a clear vision for the future growth in the automotive industry, driven by its ongoing transformation towards partly or fully autonomous vehicles.

This transition creates a growing demand for advanced sensor technologies, which are critical for vehicle safety and functionality. Canatu’s film heaters for LiDAR and camera systems are designed to ensure these sensors operate reliably in various weather conditions, thereby enhancing the performance and safety of autonomous vehicles. In Canatu’s view, one of the reasons why OEMs prefer Canatu’s products is their feature of high thermal conductivity and high transmittance at visible light and LiDAR wavelengths, which is enabled by Canatu’s CNT technology. By positioning itself as a key supplier of these essential components, Canatu aims to significantly grow through this focus industry.

Beyond sensor heaters, Canatu is also looking into investing in the development of full window heaters and exploring the potential for integrating carbon nanotube technology into solar panels. These innovations are aimed at providing comprehensive solutions that meet the diverse needs of modern vehicles.

Canatu views that the strategic focus on high-potential applications within the automotive industry supports its ability to develop a profitable business and benefit from trends related to autonomy and sustainability in the automotive industry. With its forward-looking approach, Canatu aims to remain at the forefront of automotive technology advancements, paving the way for sustained growth and increased market penetration.

Diagnostics strategy

Currently, Canatu’s business in the medical diagnostics industry is in its emerging stage. Canatu envisions this industry as a potential future growth driver, which has the potential to develop to one of the focus industries for the company. Canatu’s strategy for the medical diagnostics industry is built on its potential to build customer relationships with Tier 1 healthcare companies.

Canatu’s current vision for its medical diagnostic products is based on their sensitivity in sample testing. This sensitivity, measured on a signal-to-noise ratio basis, is critical for reliable diagnostics and, in Canatu’s view, presents a strong value proposition to potential healthcare clients.
At present, Canatu’s medical diagnostic products are suitable for, for example, measuring paracetamol levels. However, Canatu sees future potential for these products in detecting lung cancer, breast cancer, testosterone levels, and other critical health markers. Canatu expects the accuracy and reliability of its diagnostic solutions to be particularly valuable in these applications, providing high-quality data that can enhance patient care and treatment outcomes. Canatu estimates that its products will enter the market in the medical diagnostics industry within 1 to 5 years, depending on application.