Scania Growth Capital has invested SEK 35 million in Corebon AB, a Swedish materials tech start-up that has developed a revolutionary method for producing carbon fibre components.
Based in Southern Sweden, the start-up has developed a ground-breaking method for producing components of carbon fibre reinforced plastics which is applicable on a wide range of products in industries such as automotive, telecommunication, aerospace and robotics.
The patented process is based on induction heating and enables Corebon to produce carbon fibre components at significantly higher speed than through existing established methods. The quality of the produced carbon fibre component is also improved, and the energy consumption in production is considerably reduced.
Corebon is already a supplier to a leading player within the telecom sector and is in different stages of implementation projects with several other key companies within different industries.
“We are in an acceleration phase and we are growing both our production capacity and our organisation. To have Scania Growth Capital come in as the lead investor in our SEK 45 million capital raise rounds, and to be able to leverage Scania’s ecosystem and knowledge will certainly help us accelerate our growth,” says Tobias Björnhov, Founder and CEO of Corebon AB.
“Corebon has developed a truly disruptive method for carbon fibre production. The technology has the potential to fundamentally change the reach of carbon fibre in industrial applications, which traditionally has been limited due to long lead-times and high cost,” says Christian Zeuchner, Partner at the management company of Scania Growth Capital.
This marks the fourth investment by Scania Growth Capital. For each investment, the approach has been to contribute with industry knowledge, in addition to the invested capital. In this case, Per-Arne Eriksson who is head of Customized Truck Development at Scania, will join the board of directors of Corebon. Christian Zeuchner says: “The strategy of Scania Growth Capital is to invest in companies attractive growth companies that have strategic relevance to the Scania eco-system and Corebon hits all the right notes. In the rapidly changing automotive industry, we see many possibilities to expand the use of carbon fibre to more applications as an enabler of product development, including in electrification of vehicles.”