Carbon dioxide (CO2) removal specialist Climeworks is set to scale up its pioneering direct air capture (DAC) technology following its signing of an equity round worth CHF 600m ($650m).
Comprising a team of investors co-led by Partners Group and GIC, the funding will be used to unlock the next phase of Climeworks’ growth, scaling DAC up to multi-million-tonne capacity and implementing large-scale facilities as carbon removal becomes a trillion-dollar market.
Commenting on the funding, Christoph Gebald, Co-Founder, Co-CEO, Climeworks, said, “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.”
In September last year (2021), the company launched Orca, the world’s largest DAC and storage plant.
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