(Editor's note: This press release was published September 3, 2024 and is reposted here with permission. See the original article here.)
EINDHOVEN, THE NETHERLANDS (September 3, 2024) – Dutch direct air capture (DAC) startup Carbyon has secured an investment round of €15.3 million. The company has developed an innovative, patented technology to capture CO2 directly from the atmosphere. Their ‘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 Series A financing round brings Carbyon’s total investments to more than €25 million. The strong financial backing will allow the company to develop the first engineering-scale demonstrators, start commercial pilot testing and prepare for an ambitious scale-up.
The company welcomes three new investors to the table: Siemens Financial Services, Omnes Capital and Global Cleantech Capital who are joining existing investors Invest-NL, Innovation Industries, Lowercarbon Capital and the Brabant Development Agency (BOM). This international consortium of investors, all having a strong track record of supporting cleantech startups, have a shared urgency to combat climate change. This seamlessly aligns with Carbyon’s mission to provide a scalable, affordable and global carbon capture solution.
Carbyon, founded by Hans De Neve in 2019, is developing DAC machines using a patented, ultra-fast capturing technique. This high-speed process drastically reduces the costs of their DAC machines, leading to significantly lower cost-per-ton of CO2 captured.
During the past few years, the company has been perfecting its technology to prepare for scaling up. The recent financial investment will allow the company to develop the first engineering-scale outdoor demonstrators and to prepare to go to market.
The 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.”
“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.”
About Carbyon
Carbyon develops equipment to filter CO2 from the air, to be stored underground or converted it into alternatives to fossil fuel-based products. Carbyon, founded by Hans De Neve in 2019, uses a patented, ultra-fast capturing technique to reach an industry leading low cost-per-ton of CO2 captured.
The Dutch company, spin-off from the applied research institute TNO and winner of the $1M Milestone Award of the XPRIZE Carbon Removal, is seen as one of most promising technology providers for large-scale carbon removal. Carbyon’s goal is to create affordable and scalable technology to mitigate climate change. For more information, visit carbyon.com.
