D-CRBN, an Antwerp-based developer of plasma-based carbon capture and utilization technology, has raised €17.5 million in Series A funding led by Astaia with participation from SFPIM and the EIC Fund. The company’s Plasma ARC reactors convert industrial CO2 emissions into carbon monoxide and syngas using renewable electricity for direct integration into existing steel and chemical plants. The capital will scale reactor manufacturing and support commercial deployments.
CCU Commercialization Accelerates in 2026
The round arrives as the sector shifts from pilots to industrial deployments. Twelve raised $645M to scale electrochemical CO2 conversion. D-CRBN’s plasma approach targets on-site modular conversion of CO2 into feedstocks, addressing a gap left by larger-scale competitors focused on fuels.
Heavy Industry Seeks Feedstock Alternatives
European steel and chemical producers face pressure to decarbonize while securing non-fossil carbon inputs. D-CRBN’s technology has been validated in a 1,000-ton-per-year pilot at ArcelorMittal Ghent with Mitsubishi Heavy Industries. Current solutions either store CO2 or require entirely new process infrastructure.
Plasma Reactors Enable Asset Integration
D-CRBN’s electrified plasma system produces CO and syngas that slot directly into existing industrial processes without asset write-offs. This differs from electrochemical competitors like CERT Systems and Carboneo, which rely on electrolyzers, and from fermentation approaches such as LanzaTech. The modular design supports point-source emissions at steel and chemical sites.
European Policy Capital Backs Scale-Up
Astaia led the round with a focus on industrial decarbonization platforms. Belgium’s sovereign wealth fund SFPIM and the EIC Fund joined, reflecting alignment with EU Green Deal and strategic autonomy goals. The investors previously supported the company through its €2.5 million EIC grant in 2023.
CCU Market Expands Toward Feedstocks
The carbon capture and utilization market stands at $3.84 billion in 2026 and is projected to reach $5.34 billion by 2031 per Mordor Intelligence. Drivers include EU decarbonization mandates and feedstock price volatility. D-CRBN positions its plasma route for high-value CO and syngas rather than fuels or mineralization.
Spin-Off Expertise Drives Differentiation
The company emerged from the University of Antwerp’s PLASMANT research group. Co-founders bring plasma PhD expertise and direct experience with industrial partners including BASF, Engie, and Vopak.