Dutch-based Carbyon secures €15.3M to turn direct air capture of CO2 into an affordable and scalable technology

Eindhoven-based Carbyon, a Direct Air Capture (DAC) startup whose goal is to create affordable and scalable technology to stop climate change, announced that it raised €15.3M in a Series A funding round. This brings the company’s total investment to over €25M.

Carbyon’s technology captures CO2 from the atmosphere, reducing costs and enhancing scalability.

Investors supporting Carbyon

The round saw investment from new investors, including Siemens Financial Services, Omnes Capital, and Global Cleantech Capital, joined by existing backers Invest-NL, Innovation Industries, Lowercarbon Capital, and the Brabant Development Agency (BOM).

Andy Bown, Head of Negative Emissions Technologies Investments from Siemens Financial Services, says, “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.”

“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.”

Aiming to restore the atmospheric carbon balance

Carbyon, founded by Hans De Neve in 2019, is a Dutch startup specialising in direct air capture (DAC) technology to filter CO2 from the atmosphere for underground storage or conversion into sustainable products. 

The company claims to achieve an “industry-leading” low cost-per-ton of CO2 captured using a patented, “ultra-fast” capturing technique. 

A spin-off from TNO and winner of the $1M Milestone Award at the XPRIZE Carbon Removal, Carbyon aims to offer affordable and scalable solutions for climate change mitigation.

In November 2023, Carbyon announced that its fast-swing process for Direct Air Capture (DAC) has successfully captured CO2 using less than 2,500 kWh/ton. This made Carbyon the first to significantly lower CAPEX costs for DAC equipment and reduce energy consumption, advancing toward a cost-effective DAC technology below $100/ton.

Capital utilisation

The fund will help Carbyon to develop engineering-scale outdoor demonstrators and initiate market preparations.

The first models will be tested at High Tech Campus Eindhoven and with pilot partners, while the company plans to scale up production to 50,000 machines per year by 2031, aiming for gigaton-scale operations by 2050.

Carbyon founder, Hans De Neve says, “This new investment brings us much more than the financial resources to continue our growth.”

“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.”