Valve's company policy for Steam states that the service doesn't permit refunds. However, due to the recent fiasco surrounding From Dust's DRM settings incorporated by Ubisoft, the company have confirmed they will refunds to those who purchased the game on Steam.
Gamers who purchased the game via Steam are being contacted by Valve and have been offered their money back. Although Ubisoft are due to remove the always-online DRM for From Dust with an incoming patch, Valve will still offer refunds.
A message from Steam support stated the following:
If you don't want to wait for the patch or if you haven't played the game, per Ubisoft's request, we will issue refunds for this title. If you would still like your purchase of From Dust refunded, please reply to this ticket.
The patch to remove the always-online setting connection DRM for From Dust will go live within two weeks.
Via RPS.