Climeworks raises CHF 600 million in equity funding to accelerate the direct air capture industry

Since its foundation in 2009 by Christoph Gebald (left) and Jan Wurzbacher (right), Climeworks has pioneered direct air capture technology and is the most advanced industry player, with the world’s largest direct air capture and storage plant launched last September. The new investor base includes several of the most renowned and largest institutional technology and infrastructure investors globally. This funding will unlock the next phase of its growth, scaling DAC up to multi-million-ton capacity and implementing large-scale facilities as carbon removal becomes a trillion-dollar market. 

“We are proud to partner with our new investors and thankful for the renewed trust of our existing ones, all committed to the long-term journey of Climeworks. It is thrilling to see the appetite and support of experienced investors towards the scale-up of our technology; this is a great milestone for our company as well as the entire industry,” said Christoph Gebald, Climeworks co-founder and co-CEO of Climeworks.

“Whilst there is no silver bullet for addressing climate change, Climeworks’ direct air carbon capture technology has the potential to play an important role in helping the world avoid its worst impacts. There will be many hurdles to overcome, but the scale of the opportunity is huge. We have been very impressed by Climeworks’ management team and are excited to support them on the journey ahead,” said Lee Qian, investment manager at Baillie Gifford.

Climeworks was a Venture Kick winner in 2010, a Venture Leader in 2017, and one of the TOP 100 Swiss Startups from 2011 to 2014. To learn more about Climework's path to record-high fundraising successes, discover Christoph Gebald's inspiring keynote speech at the TOP 100 Swiss Startup Award 2020, and read about their journey from ETH spin-off to world shaper of tomorrow.  




Source: press release