New limited edition Panerai model features modern materials and a stylish design

It's been a busy year for Panerai. Not content with simply making some of the most iconic dive watches on the planet, the brand has turned its hand to innovating on all fronts.

First, it launched the Panerai Submersible Elux LAB-ID. That watch contains a micro-sized circuit which uses the mechanical rotor to generate electricity, which subsequently powers parts of the watch.

Since then, we've seen a barrage of new and exciting models culminating with this – the Panerai Luminor Quaranta Carbotech. As you may have guessed from that last part of its name, this watch uses a really cool material for its case.

Carbotech – for those unfamiliar with the material – is created by heating and compressing carbon fibre with other polymers. The result is 80% lighter than steel, 73% lighter than ceramic and 64% lighter than titanium, yet retains phenomenal strength and resistance to corrosion. We've already seen it used on the brand's America's Cup and Navy SEALs ranges in recent months.

Elsewhere, you'll find an automatic P.900 calibre inside. That's a svelte movement, with a 4Hz beat rate and an Incabloc anti-shock system.

The size is what counts though, allowing this watch to sit in a 40mm case. That's practically unheard of where Panerai is concerned, and will come as a triumph for fans of the brand with dainty wrists – present company very much included.

The green dial is beautifully matched with a green rubber strap, which all offsets the grey-black hue of the case nicely. It's a really stunning thing to look at. Of course – being a Panerai – you'll also get a neat 300m of water resistance.

Priced at £11,400 in the UK (approx. $14,800 / AU$22,000), this is certainly an investment. However, if you love the Panerai style and desperately want one with a slightly narrower measurement, this is a great option. Add in the innovative materials and stylish looks, and this really is a no-brainer.