Dutch Startup Carbyon Secures €15.3M to Scale CO₂ Capture Technology
Eindhoven, Wednesday, 4 September 2024.
Eindhoven-based Carbyon has raised €15.3 million in Series A funding to advance its innovative direct air capture technology. The startup aims to significantly reduce the cost of removing CO₂ from the atmosphere, targeting less than €100 per ton.
Leading the Charge in CO₂ Capture
Founded in 2019 as a spin-off from the Dutch organization TNO, Carbyon has quickly risen to prominence in the field of direct air capture (DAC) technology. The company’s patented ‘fast swing’ method aims to capture CO₂ more efficiently and at a lower cost than traditional methods. This breakthrough technology not only promises to make carbon capture more economically viable but also positions Carbyon as a global leader in the fight against climate change.
Strategic Investment and Partnerships
The recent €15.3 million funding round, led by Siemens Financial Services, Omnes Capital, and Global Cleantech Capital, brings Carbyon’s total investment to over €25 million. These new investors join a group that already includes Invest-NL, Innovation Industries, Lowercarbon Capital, and the Brabant Development Agency (BOM). According to Hans De Neve, founder of Carbyon, this investment offers more than just financial backing; it brings invaluable expertise in manufacturing and scaling, which are critical for the rapid yet responsible expansion of their technology.
Ambitious Goals for a Sustainable Future
Carbyon has set ambitious targets for the next few decades. By 2031, the company aims to produce 50,000 direct air capture machines annually. Their long-term goal is to achieve gigaton-scale CO₂ removal by 2050. The first engineering-scale demonstrators will be tested at the High Tech Campus Eindhoven before broader deployment with pilot partners. This phased approach ensures that the technology is rigorously tested and optimized before full-scale commercialization.
Recognition and Validation
Carbyon’s innovative approach has not gone unnoticed. The startup recently won a milestone XPRIZE award, which serves as a significant validation of its technology’s potential impact. This recognition underscores the importance of continued investment and development in carbon capture solutions. The award also highlights Carbyon’s role in pioneering sustainable innovations that address the urgent challenge of climate change.
Conclusion: A Promising Path Forward
As Carbyon moves forward with its plans, the recent funding and strategic partnerships will be crucial in achieving its goals. By reducing the cost of CO₂ capture to less than €100 per ton and scaling up production, Carbyon aims to make a significant dent in global CO₂ emissions. With the support of industry leaders and continued innovation, Carbyon is well-positioned to lead the charge in sustainable climate solutions.