Dutch direct air capture (DAC) startup Carbyon has received €15.3 million in Series A funding. This round brings the total funding raised by the company to over €25 million. The investment came from new investors Siemens Financial Services, Omnes Capital (which invested in Quandela and Planet A Foods), and Global Cleantech Capital who are joining existing investors Invest-NL, Innovation Industries, Lowercarbon Capital, and the Brabant Development Agency (BOM).
How will it use the investment?
It will allow the company to develop the first engineering-scale demonstrators, start commercial pilot testing, and prepare for an ambitious scale-up.
“We are very pleased to be able to support Carbyon as it moves forward with the development of innovative and affordable technology to capture CO2 directly from the atmosphere” Andy Bown, Head of Negative Emissions Technologies Investments from Siemens Financial Services commented. “We stand ready to offer our financial expertise and access to Siemens’ broad portfolio of solutions to support Carbyon in its journey to deploy DAC systems at scale.”
What does the company do?
Founded by Hans De Neve in 2019 in Eindhoven, the company has a team of scientists and engineers in domains like chemistry, physics, and machine engineering.
Carbyon’s mission is to provide a scalable, affordable, and global carbon capture solution. It develops DAC machines using a patented, ultra-fast capturing technique to filter CO2 from the air to be stored underground or converted into alternatives to fossil fuel-based products.
Its ‘fast swing’ technology increases CO2 capacity and thereby significantly drives down unit, energy, and project costs – all critical criteria to facilitate large-scale deployment. This high-speed process drastically reduces the costs of their DAC machines, leading to significantly lower cost-per-ton of CO2 captured.
Its first models will be tested at the High Tech Campus Eindhoven and be shipped to pilot partners for field testing. In parallel, Carbyon will prepare to expand production to 50,000 machines per year by 2031 and continue to gigaton scale in 2050.
“This new investment brings us much more than the financial resources to continue our growth,” said Hans De Neve. “Our partners have the required manufacturing and scaling knowledge we need to rapidly but responsibly scale our technology. This consortium is a dream scenario and is highly motivating to continue with our mission.”
