Carbonova closes $25M Series B for graphene from methane process
Calgary-based Carbonova closed a $25M Series B led by BDC Capital to build a 1,500-tonne-per-year graphene nanotube and hydrogen demonstration plant in Calgary, targeting commissioning in late 2027. The process targets a delivered graphene cost under $35/kg, which, if achieved at scale, could pressure pricing across the carbon nanotube and advanced composites supply chain.
Carbonova, based in Calgary, has secured a $25 million Series B funding round to advance its catalytic methane decomposition process. This technology produces graphene nanotubes and clean hydrogen from natural gas without emitting CO2. The funding, led by BDC Capital with contributions from Suncor Energy Ventures and CIBC Innovation Banking, will finance a 1,500-tonne-per-year demonstration plant at Carbonova's Calgary facility, expected to be operational by late 2027. The company's process transforms methane (CH4) into solid carbon nanostructures and hydrogen gas, addressing both decarbonization and the economics of graphene supply. CEO Mina Zarabian stated that the demonstration plant aims to deliver graphene at a cost below $35 per kilogram, making it competitive with industrial carbon black on a performance-adjusted basis. Carbonova is currently in advanced discussions with three North American chemical companies regarding offtake agreements.
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