Welcome to this week's Sunday Briefing. In this edition:
A rural fintech platform secures millions to scale
Local geothermal technology achieves commercial milestone
AI tackles the market research industry
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Calgary's Carbonova raises $5.1M to build CO₂-to-nanomaterials plant
Carbonova co-founder and CEO Mina Zarabian (centre) at MaRS Climate Impact. Photo: Carbonova on LinkedIn
Calgary cleantech company Carbonova has closed an oversubscribed $5.1 million equity financing round to help build its first commercial demonstration unit. The facility will convert captured CO₂ and natural gas into 25 tonnes of carbon nanofibres per year, with commissioning targeted for mid-2027. The financing comes on top of $4.38 million in grant funding the company secured from Emissions Reduction Alberta, bringing total funding for the $13.6 million project close to completion through a mix of cash, in-kind contributions from partners, and earlier capital raises.
Carbonova's patented process turns greenhouse gas emissions into high-performance carbon nanofibres that the company says outperform alternatives like carbon black, graphite, and carbon nanotubes. The material is already attracting commercial interest in plastics, composites, lithium-ion battery components, and construction, with Fortune 500 companies among early customers. CEO Dr. Mina Zarabian says the oversubscribed round reflects confidence in both the technology and the company's global potential.
Once the demonstration unit is running, Carbonova plans to build a full-scale plant and deploy modular units at industrial sites around the world. The carbon nanofibres are lightweight and high-value, which means they can be transported using existing infrastructure—making it easier to scale production and reach global markets from Alberta.
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🤝 Funding, Deals, and Partnerships
SimpleHedge lands $4M to scale rural fintch platform. SimpleHedge says its app has already supported more than US$350 million in transactions from nearly 3,000 farmers and now manages over 110 million acres. Calgary.Tech
📰 Need To Know
Eavor Technologies achieves first electricity production at Geretsried site. Calgary-based Eavor Technologies has positioned itself as a global leader in scalable geothermal with the first commercial project of its kind in the world. Eavor Technologies
An exclusive look inside Calgary's largest data centre, CAL-2. The province is pushing for more AI data centre investments but not all Albertans are as enthusiastic, citing concerns about their impact on the environment. CBC News
Cashew Research is going after the $90B market research industry with AI. Calgary, Alberta-based Cashew uses AI to develop market research plans and surveys for brands based on what information they are looking for — like what their brand recognition is for a specific population or how a marketing tagline resonates with customers. TechCrunch
Google opens 2026 startup accelerator applications. Startups accepted into the cohort receive access to Google and Google Cloud resources, tailored mentorship, and industry expertise to accelerate product and business growth. Calgary.Tech
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