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About California Nanotechnologies Corp. (CANOF)
California Nanotechnologies Corp. (Cal Nano) is a pioneering company in the advanced materials industry, specializing in the development and manufacturing of high-performance materials through cutting-edge technologies. Headquartered in Greater Los Angeles, California, the company operates state-of-the-art facilities in Cerritos and Santa Ana, offering a broad portfolio of advanced material processing solutions. These include Spark Plasma Sintering (SPS), cryomilling, and ancillary machining services, which cater to a diverse range of industries such as aerospace, renewable energy, cleantech, automotive, and defense.
Core Technologies and Capabilities
At the heart of Cal Nano's operations are its advanced material processing technologies:
- Spark Plasma Sintering (SPS): A rapid sintering process that enables the production of high-density, high-performance materials. Cal Nano is a recognized leader in this technology, boasting the largest SPS machine commercially available in North America, the MSP-5. This capability allows the company to process larger part sizes and handle higher material volumes, making it a valuable partner for both R&D and commercial production projects.
- Cryomilling: A specialized process for producing ultra-fine powders with enhanced material properties, ideal for applications requiring exceptional strength and durability.
- Custom Tooling and Ancillary Services: The company also offers pre- and post-processing services, including molybdenum wire EDM and advanced cutting mills, to support comprehensive manufacturing needs.
Strategic Growth and Market Position
Cal Nano has strategically positioned itself as a leader in the advanced materials sector through continuous investment in infrastructure and technology. The commissioning of its new 19,500-square-foot facility in Santa Ana marks a significant milestone, providing the necessary infrastructure to support its growing operations. This facility not only houses the MSP-5 SPS machine but also includes expanded cryomilling capabilities, enabling the company to meet increasing customer demands and explore new market opportunities.
Cal Nano serves a diverse customer base, ranging from Fortune 500 companies to innovative startups. Its expertise in material science has made it a trusted partner for clients in high-growth sectors such as aerospace, renewable energy, and cleantech. The company's ability to scale projects from R&D to commercial production further enhances its appeal to customers seeking long-term, reliable solutions.
Revenue Streams and Business Model
Cal Nano generates revenue through a mix of manufacturing services, equipment sales, and R&D contracts. Its SPS and cryomilling technologies are central to its service offerings, enabling the production of advanced materials for critical applications. Additionally, the company has developed a growing aftermarket parts and service business, further diversifying its revenue streams. Recent investments in sales and business development capabilities aim to reduce customer concentration risks and expand market reach.
Commitment to Innovation and Industry Leadership
Innovation is a cornerstone of Cal Nano's operations. The company actively participates in industry conferences and collaborates with leading research institutions to advance material science. Notable achievements include receiving an R&D 100 award for its work on refractory high-entropy alloys, highlighting its contributions to cutting-edge research and development.
Cal Nano's commitment to sustainability and technological advancement positions it as a key player in the transition to cleaner, more efficient industries. Its focus on green steel and renewable energy applications underscores its role in driving innovation for a sustainable future.
Financial Health and Future Outlook
Cal Nano's financial performance reflects its strategic growth initiatives and operational efficiency. The company recently achieved a debt-free status for the first time in 15 years, providing greater flexibility to reinvest in its business. With a strong foundation in place, Cal Nano is well-positioned to capitalize on emerging opportunities in the advanced materials market.
As it continues to expand its capabilities and customer base, Cal Nano remains committed to pushing the boundaries of material science, delivering innovative solutions that meet the evolving needs of its clients and industries.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) has achieved recognition as a 2025 TSX Venture 50 Company, marking a significant milestone in its corporate journey. The prestigious ranking evaluates top-performing TSXV companies based on three key criteria: market capitalization growth, share price appreciation, and trading value, with each factor carrying equal weight.
CEO Eric Eyerman expressed pride in this achievement, highlighting the company's commitment to advancing next-generation materials through innovative technologies. The recognition underscores Cal Nano's dedication to both technological advancement and shareholder value creation. Interested parties can access more information about the 2025 TSX Venture 50 and Cal Nano at tsx.com/Venture50.
California Nanotechnologies (CANOF) reported record Q3 2025 results with revenue of US$1.8M, up 56% year-over-year. The company achieved Adjusted EBITDA of US$826K, marking another quarterly record. Net income was US$113K, down from US$514K in the prior year, primarily due to non-cash charges related to share purchase warrants.
The revenue growth was driven by manufacturing programs and a Spark Plasma Sintering equipment delivery. The green steel cleantech customer program contributed approximately 57% of quarterly revenue. Gross margin improved year-over-year, though lower than the previous quarter due to equipment sales. The company completed repayment of US$600K borrowings to Omni-Lite, becoming debt-free for the first time in 15 years.
California Nanotechnologies (CANOF) reported significant growth and strategic expansion in 2024. Key developments include:
The company signed a lease for a new facility in Santa Ana, California, approximately five times larger than their existing Cerritos facility, featuring high electrical amperage capacity important for their operations. They purchased a large-scale MSP-5 SPS system from Dr. Fritsch, expected to be North America's largest commercial SPS machine for production and R&D services.
The company successfully commissioned the Santa Ana facility in September 2024, bringing online the new MSP-5 SPS machine and transferred cryomills. The workforce nearly doubled during 2024, including their first dedicated sales hire. Cal Nano received an R&D 100 award for collaborative work with Sandia National Lab in manufacturing refractory high-entropy alloys (RHEAs).
Notably, the company repaid all outstanding debt to Omni-Lite Industries Canada Inc., becoming debt-free for the first time in approximately 15 years.
California Nanotechnologies (TSXV: CNO) (OTC Pink: CANOF) has announced the final repayment of its US$600,000 debt to Omni-Lite Industries, marking the first time the company has been debt-free in approximately 15 years. The payment was made ahead of its scheduled May 2025 maturity date, resulting in interest savings. The initial intercompany advance from Omni-Lite in FY2010 grew to approximately US$1.5 million in FY2023 before Cal Nano began making repayments, coinciding with improved operating profits and cash flow generation.
California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) reported record quarterly revenues of US$1,522,185 for Q2 2025, a 122% increase year-over-year. The company achieved an all-time high Adjusted EBITDA of US$808,970, up 177% from the previous year. Despite these positive results, Cal Nano recorded a net loss of US$655,031, primarily due to a non-cash charge related to share purchase warrants. The company's gross margin improved to 182%, up from 79% in the same period last year. Cal Nano has completed commissioning its new Santa Ana facility, which is expected to contribute to revenue from Q3 FY2025 onward. The company is focusing on reducing customer concentration risk and expanding its sales capabilities.
California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) has commissioned a new 19,500-square-foot manufacturing facility in Santa Ana, California. The facility is now operational with a large MSP-5 Spark Plasma Sintering (SPS) machine and cryomills available for production. This expansion provides infrastructure for recently purchased equipment and space for potential production requirements, warehousing, and custom tooling.
The company has started running parts on the new MSP-5 machine for a green steel cleantech customer. Additional equipment, including multiple cryomills and a mid-sized SPS2000 machine, is expected to come online over time. Cal Nano has also added pre- and post-processing services and custom tooling manufacturing capabilities.
Cal Nano made a repayment of US$338,335 on its loan to Omni-Lite Industries Canada Inc., reducing the total outstanding loans to US$600,000.
California Nanotechnologies Corp. (TSXV: CNO) (OTC Pink: CANOF) has granted 1,300,000 incentive stock options to its employees, directors, and officers. The options were approved by the Board of Directors on July 25, 2024, with an exercise price of $0.83 CAD per share, matching the most recent closing price. These options will vest over three years and expire after five years, subject to TSX Venture Exchange requirements.
The grant includes specific allocations to key individuals: CEO Eric Eyerman received 375,000 options, Director Christopher Melnyk 320,000, Director Roger Dent 90,000, Director Sebastien Goulet 65,000, Director Enrique Lavernia 50,000, and Investor Relations Brandon Chow 25,000.
California Nanotechnologies (CANOF) reported record Q1 2025 revenues of US$1.75M, a 243% increase YOY. Net income surged to US$696K from US$35K, and adjusted EBITDA rose to US$754K from US$113K. Diluted EPS was $0.01. Revenue growth was driven by manufacturing programs and SPS equipment sales, despite higher overhead costs. The company's new Santa Ana facility is progressing and expected to boost future revenues. Financial highlights include a gross profit of US$1.15M and a gross margin of 66%. The company repaid US$50K of borrowings, further decreasing debt.
California Nanotechnologies (CANOF) has reported record annual revenue of $3.34 million for FY2024, marking a 142% increase from the previous year. Q4 revenues were $983,004, up 171% YOY. The company also reported a net income of $381,678, up from $79,764 last year, and adjusted EBITDA of $1.16 million, compared to $384,174 previously. Despite a quarterly net loss of $318,359, Cal Nano anticipates continued growth, with Q1/FY2025 expected to hit record revenues and profitability.
The company attributed its revenue growth to R&D manufacturing programs and sales of Spark Plasma Sintering (SPS) equipment. Cal Nano's new facility in Santa Ana is progressing well, with new equipment expected to be commissioned by August 2024. The company remains optimistic about FY2025, anticipating further significant growth.
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