Author: Atrium Research August 19, 2026
Luca Perna | Equity Research Associate | [email protected] | 647-969-1027
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What you need to know:
- Grafta has a patented scalable process for producing synthetic graphene, which can remove heavy metals, hydrocarbons, and harmful chemicals from industrial wastewater.
- The product has various applications as a low-cost turnkey solution across industries assets, mining, in-situ, and other contaminated waters.
- Unlike many other graphene stocks, Grafta is starting to produce revenue, with estimate $0.5M in sales in 2026 and $3.2M in 2027.
- Grafta is led by an elite management team that punches above its weight.
Grafta Nanotech (GFTA:TSXV) is a newly listed wastewater and fluid handling company focused on advancing graphene-based filtration technology for wastewater remediation. The Company has a scalable technology and is already producing revenue across various industry applications. We expect sales to ramp into 2026 and 2027, as the product is a low-cost alternative solution in a growing industry. We are initiating coverage on Grafta Nanotech with a BUY rating and a $0.35/share target price.
Investment Thesis Summary
A Scalable Technology. Grafta has developed a scalable process for producing synthetic graphene, which will target the $250B water remediation market. The absorption capabilities of the material allow Grafta to offer a product that can remove heavy metals, inorganics, hydrocarbons and dissolved contaminants, and harmful chemicals from industrial wastewater. The Company’s current facility in Calgary, which has been in production since April 2023, can produce 50tonnes per month) and can increase to 300tpm.
Various Applications. The technology is a low-cost turnkey solution which can be applied to industrial assets, mining, in-situ, and other environmentally contaminated waters including acid rock and operational projects. The Company has a first-mover advantage and looks to drive sales efforts going forward.
Revenue Pipeline: Not a Story Stock. Grafta is in discussions with ~70 projects where its products can replace existing solutions or be part of new treatment programs, a large majority of which are in manufacturing processes and general industrial applications. We expect Grafta to generate $0.5M in revenue in 2026 and $3.2M in 2027. The Company also plans to utilize M&A, targeting companies within its supply chain and complete engineering service providers.
Important and Growing Industry. Industrial water treatment is a ~US$42.7B global market growing at a ~5.2% CAGR. The drivers are tightening environmental regulation, expanding industrial output, and intensifying freshwater scarcity, particularly in mineral and chemical-heavy regions of North America.
Management & Ownership. The Company is led by CEO Mark Bentsen, a seasoned energy services executive with over 30 years of experience, including as CEO of Cathedral Energy Services. Management collectively owns 32% of the shares outstanding, while institutional investors own 30%.
Valuation. GFTA trades at 18.9x 2028E EBITDA compared to graphene-related companies at 23.3x and water treatment firms at 10.1x. We expect the multiple to rise as GFTA executes on contract signings and proves profitability.
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Atrium Research Ratings System
BUY: The stock is expected to generate returns of over 20% over the next 24 months.
HOLD: The stock is expected to generate returns of 0-20% over the next 24 months.
SELL: The stock is expected to generate negative returns over the next 24 months.
NOT RATED (N/R): Atrium does not provide research coverage on the respective company.
COVERED COMPANIES: 55
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