Carbyon, an Eindhoven, the Netherlands-based direct air capture (DAC) startup, raised €15.3M in Series A funding.
Backers included Siemens Financial Services, Omnes Capital and Global Cleantech Capital, joining existing investors Invest-NL, Innovation Industries, Lowercarbon Capital and the Brabant Development Agency (BOM).
The company intends to use the funds to develop the first engineering-scale demonstrators, start commercial pilot testing and prepare for growth.
Founded by Hans De Neve in 2019, Carbyon is developing DAC machines using a patented, capturing technique. This process reduces the costs of their DAC machines, leading to lower cost-per-ton of CO2 captured. It develops equipment to filter CO2 from the air, to be stored underground or converted it into alternatives to fossil fuel-based products.
FinSMEs
05/09/2024