CarboMat
Low-cost carbon fibers from oil industry by-products.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | CAD1.1m | Grant | |
| Total Funding | 000k | ||
CarboMat Inc. is a clean technology company specializing in transforming low-value oil sands by-products, specifically asphaltenes, into low-cost, high-value carbon fibers. Founded in early 2022 as a spin-off from the University of Calgary, the company's proprietary technology aims to reduce the production cost of carbon fibers by 60% and lower greenhouse gas emissions by 50% compared to conventional manufacturing processes. The initial technology was developed at the university, and the company was launched with support from a GRInSTEM Fellowship Award.
The firm's business model centers on upcycling waste materials from the oil industry into valuable components for a variety of sectors. The resulting carbon fibers are intended for use in the composite materials industry, with applications in automotive, aerospace, sports and leisure equipment, marine, and energy storage. CarboMat also explores the production of battery anode materials from asphaltenes for lithium-ion and sodium-ion batteries. By making carbon fiber more affordable, the company aims to facilitate its widespread adoption in lightweight composite applications.
CarboMat was co-founded by Shabab Saad, who serves as CEO, and Dr. Md Golam Kibria, the Scientific Director. The company has actively participated in several accelerator programs, including the Foresight Cleantech Accelerator, Creative Destruction Lab's Rockies Energy stream, and the Rice Alliance Clean Energy Accelerator. CarboMat has secured significant non-dilutive grant funding, including $4.1 million from Emissions Reduction Alberta (ERA) and Alberta Innovates, to advance its technology from gram-scale to kilogram-scale production and build a commercial demonstration unit.
Keywords: carbon fiber, asphaltenes, clean technology, advanced materials, composites, oil and gas by-products, sustainable manufacturing, circular economy, lightweight materials, University of Calgary spin-off, battery anode materials, Shabab Saad, Md Golam Kibria, Emissions Reduction Alberta, Alberta Innovates