Scania Growth Capital invests SEK 35 million in carbon fiber startup
Swedish material tech startup Corebon AB believes it has developed a revolutionary method for producing carbon-fiber components. Scania’s corporate venture capital fund is investing in the company.
Based in southern Sweden, the startup has developed a method for producing components of carbon fiber reinforced plastics. The method is reportedly applicable to a wide range of products in industries such as automotive, telecommunication, aerospace, and robotics.
The process, which is based on induction heating, enables Corebon to reportedly produce carbon-fiber components at significantly higher speed than through existing established methods. The quality of the produced carbon fiber component is also improved, and energy consumption in production is considerably lower.
“We are in an acceleration phase and are growing both our production capacity and our organization. Scania Growth Capital as lead investor in our SEK 45 million capital raising rounds and Scania’s ecosystem and knowledge will certainly help us accelerate growth,” said Tobias Björnhov, founder and CEO of Corebon AB.
“Corebon has developed a truly disruptive method for production of carbon fiber components. The technology has the potential to fundamentally change the reach of carbon fiber in industrial applications, which traditionally has been limited due to long lead-time and high cost,” said Christian Zeuchner, partner at the management company of Scania Growth Capital.
This marks the fourth investment by Scania’s corporate venture capital fund. For each investment, the approach has been to contribute with industry knowledge, in addition to the invested capital. In this case, Per-Arne Eriksson, head of Customised Truck Development at Scania, will join the board of directors of Corebon. Eriksson said, “The strategy has been to invest in companies that have strategic relevance to the ecosystem in which we operate, and Corebon fits very well. In the rapidly changing automotive industry, we see many opportunities to expand the use of carbon fiber composites to more applications as an enabler in product development, including in vehicle electrification.”