Carbonova's C$5.1M Boost Ignites Calgary's Green Economy Ambitions
Investing in a Cleaner Future
Calgary-based cleantech leader Carbonova announced the closing of an oversubscribed C$5.1 million equity financing round on December 3, 2025, from strategic and private investors. This significant investment is a cornerstone of Carbonova's larger C$13.6 million Commercial Demonstration project in Alberta. Coupled with a prior C$4.38 million grant from Emissions Reduction Alberta (ERA), this funding signals strong confidence in Carbonova's mission to transform greenhouse gases into high-performance carbon nanofibers, as championed by CEO and Co-founder Dr. Mina Zarabian.
A Catalyst for Local Innovation
The new capital accelerates the construction of Carbonova's first commercial demonstration unit (CDU-25) in Calgary. Projected for commissioning in mid-2027, the CDU-25 is engineered to convert captured CO₂ and natural gas into 25 tonnes of next-generation carbon nanofibers annually. These versatile materials are slated for applications in batteries, composites, and construction, positioning Calgary at the forefront of sustainable material innovation.
Alberta's Policy Propels Progress
Carbonova's success reflects Alberta's robust policy environment supporting carbon capture, utilization, and storage (CCUS) and cleantech. Provincial initiatives like the Technology Innovation and Emissions Reduction (TIER) system and the extended Alberta Carbon Capture Incentive Program (ACCIP)—backed by C$167 million in Budget 2024—directly foster such projects. This is further reinforced by a Canada-Alberta Memorandum of Understanding from November 27, 2025, and federal commitments exceeding C$21.5 million for carbon capture projects, creating a fertile ground for companies like Carbonova.
Fueling Calgary's Economic Diversification
This development is central to Calgary's strategic pivot towards becoming a global energy transition hub. The city's Innovation Strategy identifies cleantech as a "right-to-win" sector, aiming for substantial job creation and economic growth. Carbonova's project aligns perfectly with the "Calgary in the New Economy" vision and the City's Climate Strategy: Pathways to 2050, demonstrating how local innovation and targeted investment are driving Calgary's journey to a net-zero, diversified economy.
