Canatu (CANATU) Company Presentation summary

Transaction overview and structure

• Lifeline SPAC I will acquire 100% of Canatu via a share exchange, with Canatu receiving up to €105.6M in primary capital and a fixed enterprise value of €230M, plus earn-outs tied to share price milestones.

• Post-transaction, Canatu will be listed on the First North Growth Market, with a lock-up period for management and key shareholders to maintain alignment.

• Lifeline SPAC I’s experienced team will continue to support Canatu’s value creation post-IPO, with board members from both entities.

• The transaction is designed to accelerate Canatu’s growth, leveraging SPAC capital for investments in technology, capacity, and talent.

• Key dates include transaction announcement (July 2024), EGM approval (August 2024), and listing (September 2024).

Business model and technology

• Canatu specializes in advanced carbon nanotube (CNT) technology, with applications in semiconductor, automotive, and medical diagnostics.

• The company operates two main business models: direct CNT product sales (membranes, sensors, heaters) and equipment/licensing sales (reactors, royalties, consumables).

• Recurring revenue streams are established through long-term contracts, royalties, and consumables, especially in semiconductor and automotive sectors.

• Canatu’s dry deposition CNT technology offers material advantages over wet dispersion, including higher purity, strength, and customizability.

• The company holds 130 patents with over 50 pending, supporting a high barrier to entry and strong competitive positioning.

Market focus and growth drivers

• Semiconductor is the current core focus, accounting for 80% of 2023 revenue, with CNTs used in EUV pellicles and inspection membranes for advanced lithography.

• Automotive applications (20% of 2023 revenue) include film heaters for LiDAR and cameras, supporting ADAS and autonomous driving.

• Medical diagnostics is an emerging focus, leveraging CNT-based biosensors for highly sensitive, rapid point-of-care (POC) testing.

• Addressable markets are projected to grow rapidly: semiconductor (€1–2B by 2030), automotive (€813M by 2030), and medical diagnostics (€1B+ by 2030).

• Key market drivers include the shift to advanced semiconductors, growth in smart/autonomous vehicles, and transformation of healthcare towards decentralized, sensitive diagnostics.