Eindhoven-based Carbyon is raising 15.3 million euros from investors to capture CO2 from the air. It wants to use the money to demonstrate its so-called Direct Air Capture (DAC) technology at full scale.
Carbyon is developing equipment for filtering CO2 from the air. This allows the substance to then be stored underground, or converted into alternatives to fossil fuel-based products. The company is a spin-off from TNO and founded in 2019 by Hans De Neve. It focuses on developing affordable and scalable technology to tackle climate change.
Millions of euros raised
In total, the company already raised 25 million euros from investors, including 15.3 million euros during its most recent investment round. Among others, Siemens Financial Services, Omnes Capital and Global Cleantech Capital are new investors in the company. Earlier, Invest-NL, Innovation Industries, Lowercarbon Capital and De Brabantse Ontwikkelings Maatschappij (BOM) also put money into the company.
The so-called 'fast swing' technology developed by Carbyon increases CO2 capacity and can thus reduce production, energy and project costs. The company cites these factors as critical in enabling large-scale implementations.
High speed lowers costs
This technology are part of the DAC machines the company manufactures, using a patented technology for rapidly capturing CO2 from the air. The speed of this process lowers the cost of the DAC machines, reducing the cost per tonne of CO2 captured.
Carbyon has been working on the technology for some time, and has been developing it further in recent years with a view to scaling it up. With the money the company is now raising from investors, it wants to develop a technical demonstration, and prepare to bring the technology to market.
Producing 50,000 machines on an annual basis
The first models will be tested at the High Tech Campus Eindhoven and then shipped to pilot partners who will test the technology in the field. Carbyon aims to produce 50,000 DAC machines by 2031 on an annual basis, and then wants to scale this up further.
Author: Wouter Hoeffnagel
