Climeworks brought its first large-scale DAC plant online in 2021
Climeworks secures $650mn to scale up direct air capture
Swiss startup aims for megaton capacity by 2030
Swiss direct air capture (DAC) startup Climeworks has raised $650mn in a funding round led by private equity firm Partners Group and Singaporean sovereign wealth fund GIC. Additional investors this round include investment managers Baillie Gifford and M&G, venture capital firms Global Founders Capital and Carbon Removal Partners, individual venture capitalist John Doerr and reinsurance giant Swiss Re—which had signed a 10-year carbon removal contract with the company in August last year. The company has signed carbon removal contracts with technology giant Microsoft, global consulting firm Boston Consulting Group and private banking and asset management group LGT. Over 13,000 individuals
Also in this section
27 May 2025
EU Parliament and Council both agree to exempt bulk of importers from paying a carbon tax on goods imported into the EU
27 May 2025
Carbon capture, utilisation and storage needs stable policy, investable frameworks and coordinated infrastructure if it is to be developed at scale
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
14 May 2025
Deal with Calpine shows oil and gas major ExxonMobil has no intention of curbing its CCS ambitions, despite US policy risks and broader scepticism over the energy transition
