Analyst Comment
Canatu signs new small development agreement in automotive industry
By Atte Riikola
Translation: Original published in Finnish on 3/24/2026 at 7:15 am EET.
Canatu announced on Monday that it had signed a 24-month joint development agreement with a global automotive technology supplier. The agreement concerns a next‑generation carbon nanotube (CNT) film heater concept integrated into automotive glass. While the monetary value of the agreement is small (less than 0.25 MEUR), the development program is an important step towards full windshield heaters, which could have significant long-term commercialization potential for Canatu.
The purpose of the collaboration is to develop an enhanced material configuration for Canatu film heaters, improving compatibility with automotive glass components. Through this joint development program, Canatu and the partner will collaborate to refine the material stack, ensuring seamless integration of the CNT film heater within laminated glass. This optimized approach is designed to deliver cost efficiencies, simplifying heater integration while maintaining high performance standards.
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Canatu is a technology company active in deep technology that creates carbon nanotubes (Canatu CNT), related products and manufacturing equipment for the semiconductor, automotive and medical diagnostics industries. The company operates through two business models, firstly using their own reactors to develop and manufacture CNT products. Second, the company sells its CNT reactors and licenses its related technology, allowing customers to produce the products themselves under a limited license.
Read more on company pageKey Estimate Figures04.03.
| 2025 | 26e | 27e | |
|---|---|---|---|
| Revenue | 15.6 | 21.8 | 52.1 |
| growth-% | -29.2 % | 39.8 % | 138.7 % |
| EBIT (adj.) | -10.2 | -11.1 | 2.0 |
| EBIT-% (adj.) | -65.5 % | -50.8 % | 3.8 % |
| EPS (adj.) | -0.27 | -0.23 | 0.07 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | neg. | neg. | 121.1 |
| EV/EBITDA | neg. | neg. | 39.4 |
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