Canatu (CANATU) SEB Small & Mid Cap Seminar Presentation summary

Company overview

• Founded in 2004 as a university spin-off, Canatu has developed a deep technology platform for advanced carbon nanotubes (CNTs), investing nearly €80 million over 20 years.

• The core technology is the proprietary Canatu Dry Deposition process, protected by 180 patents or applications in 38 families, enabling scalable and cost-effective mass manufacturing since 2015.

• Canatu focuses on three industries: semiconductor (80% of 2023 revenue), automotive (20%), and medical diagnostics (development phase).

• CNTs produced are highly advanced, tailored for high-value applications like EUV lithography, and are difficult to produce and customize at scale.

Focus industries and products

• In semiconductors, CNTs are used for EUV pellicles and inspection membranes, critical for high-end chip manufacturing and quality control.

• Automotive applications include film heaters for LiDAR systems and cameras, supporting advanced driver assistance systems.

• Medical diagnostics is an emerging area, with CNTs enabling advanced electrochemical sensors for ultra-low concentration detection.

Semiconductor market and drivers

• Demand for high-end semiconductors is driven by AI, cloud computing, and consumer electronics, with EUV as the only technology for <7nm chips.

• Industry leaders have announced over $300 billion in capacity investments, increasing demand for EUV pellicles and inspection membranes.

• The addressable market for inspection membranes is projected to grow from €10m in 2024 to €59m in 2030, with potential expansion to €120-300m if adopted in additional applications.