Canatu Plc announces a new strategy designed to transform its established innovation leadership in carbon nanotube (CNT) technology into a scalable, high-margin growth business.
The new strategy sharpens Canatu’s commercial focus and simplifies how the company operates. Canatu will concentrate its resources on the highest-value applications of its CNT technology, building on the innovation leadership the company has established in advanced carbon nanotubes. The strategy is underpinned by disciplined capital allocation and stronger commercial execution. Canatu believes that the new strategy strengthens its ability to create long-term shareholder value.
“Canatu has built a unique technology platform over the past two decades. Our strategy now focuses on turning our innovation leadership into commercial success through a more focused and disciplined, faster execution,” says Dr Maximilian Slawinski, CEO of Canatu.
Canatu’s updated strategic priorities
Canatu’s new strategy is built around three priorities:
- Strengthening the Semiconductor business as the company’s primary growth engine and a source of recurring revenues by becoming a critical supplier to the semiconductor industry through its reactor business.
- Building Robotics, Mobility and Defence into a scalable product business focused on safety-critical, transparent heater and sensor applications in assisted and autonomous driving, robotics and defence markets with expected strong growth.
- Continuing to advance Medical Diagnostics through milestone-driven product development and disciplined commercialisation.
Sharpening Canatu’s path to scalable growth
Canatu’s new strategy will be implemented through the Polaris transformation programme, which brings together organisational, commercial, and operational changes designed to accelerate execution. Through Polaris, Canatu is moving from a research and development project-driven organisation to an operating model centred on customer value creation and scalable business opportunities. As part of this shift, the company has simplified its governance model, strengthened its commercial and product management capabilities, and aligned innovation activities more closely with business execution.
Key actions already implemented include establishing dedicated Chief Marketing Officer and Chief Technology Officer organisations, integrating New Business Development into the business units, and streamlining the executive leadership structure. Canatu has also prioritised its product and project portfolio and tightened its principles for resource allocation.
Clearer commercial business model in Semiconductor
Canatu has chosen a reactor-based business model for its extreme ultraviolet (EUV) pellicle business. Canatu will sell CNT reactors, based on its proprietary Dry Deposition by Canatu platform, and related consumables to customers who develop and manufacture CNT-based EUV pellicles.
Canatu believes this business model:
- supports a capital-efficient growth strategy,
- expands the addressable customer base,
- creates recurring revenues through consumables, services, licensing and royalties, and
- accelerates scale-up.
In EUV inspection membranes, Canatu continues to operate with a product-based business model, manufacturing inspection membranes in its own factory in Finland.
Updated long-term financial targets
In connection with the new strategy, Canatu has decided to update its long-term financial targets as follows:
- Revenue exceeding EUR 100 million in 2030, followed by an outlook of at least 20% CAGR from 2030 to 2035
- Revenue per employee exceeding EUR 400 thousand in 2030
- Average annual capital expenditure below EUR 6 million from 2027 onwards
Canatu’s total CAPEX is expected to peak in 2026, amounting to a maximum of EUR 13 million, primarily due to the investments in the second factory and PELMIS EUV pellicle inspection system.
The updated targets replace the long-term financial targets published on 26 March 2026, including the EBIT margin target for 2030, which is not replaced with a new profitability target. Canatu prioritises growth in this phase and expects profitability to strengthen as revenue scales.
The targets are supported by Canatu’s reactor-based business model in Semiconductor, increased focus on scalable product businesses and sustained capital efficiency.
The targets also build on the following key strategic milestones, which Canatu aims to reach in cooperation with its customers and partners in 2026–2030:
- Semiconductor
- Qualification of CNT-based EUV pellicles for device manufacturing
- Expansion of inspection membrane business
- Expansion of CNT-based EUV pellicles to memory chip production
- Robotics, Mobility and Defence
- Ramp-up of ADAS (advanced driver assistance systems) heater mass manufacturing
- Expansion of defence and robotics business
- Launch of 3D heater product
- Medical Diagnostics
- Start of FDA pathway in the USA
- Joint development agreement with a leading diagnostics company
- Launch of Canatu CNT-based testosterone test
“Our innovation foundation remains unchanged. What changes is how we execute. We are simplifying our operating model, sharpening our priorities and focusing our investments where we believe we can create the greatest shareholder value. Our vision is to build one of the world’s leading advanced CNT companies, capable of generating more than EUR 300 million in annual revenue by 2035,” says Dr Slawinski.
The new strategy and the updated long-term financial targets will take effect immediately.