EIT Climate-KIC supported Climeworks raises over €67 million to expand its carbon dioxide removal capacities

Climeworks, the world leader in capturing CO2 from air, supported by EIT Climate-KIC, has successfully raised €67 million (CHF 73 million) in equity from private investors. This is the largest private investment into direct air capture to date. The funding will help to drive forward the company’s scale-up roadmap and expand its carbon dioxide removal capacities.

Humans have increased atmospheric CO2 concentration by over a third since the Industrial Revolution began. These emissions have already increased global temperatures by around 1°C since pre-industrial times. There are two ways of dealing with CO2 emissions today. The first one is not emitting them in the first place: We can do so by reducing our consumption, using current technologies more efficiently and shifting to low-carbon technologies. The other option, which comes in addition to the first one, is to permanently remove carbon dioxide from the air.

Founded by engineers Christoph Gebald and Jan Wurzbacher, Climeworks is one of the global leaders in carbon dioxide removal. The company’s patented technology captures CO2 directly from the air using clean energy. The air-captured carbon dioxide is then either returned to earth, stored safely and permanently away for millions of years, or it is upcycled into climate-friendly products such as carbon-neutral fuels and materials, fertiliser for greenhouses or bubbles in your fizzy drinks. The Climeworks direct air capture technology runs exclusively on clean energy, and the modular CO2 collectors can be stacked to build machines of any size.

The successful financing round takes the Swiss company, which went through EIT Climate-KIC’s Accelerator programme in 2012 and 2013, another step closer to achieving its vision of capturing one per cent of global CO2 emissions by 2025. This new round of funding brings the total sum invested in Climeworks since it was founded in 2009, to over CHF 120 million and will be used to expand Climeworks’ carbon dioxide removal capacities, help to further scale and optimise the direct air capture technology and make it accessible to more stakeholders.

“We are very thankful for the long-term commitment of our investors, who shared our vision of a climate-positive world from the very beginning. This financing round will take Climeworks to the next level and help us make an ever-bigger contribution to reversing climate change. We aim to inspire one billion people to remove carbon dioxide from the air—and this investment will contribute to achieve that goal,” says Christoph Gebald, Co-founder and Co-CEO of Climeworks.

Learn more.

 
Location
Switzerland
Related Goal
Goal 8: Reduce industry emissions
Articles you may be interested in
In The News
For cities to become climate-resilient, they need to invest in capability buil...

As cities grapple with transforming and adapting to meet...

For cities to become climate-resilient, they need to invest in capability building
In The News
EIT Climate-KIC signs declaration ‘EU Green Deal: from local to global’

All around the globe, cities and regions are driving...

EIT Climate-KIC signs declaration ‘EU Green Deal: from local to global’
In The News
EIT Climate-KIC organises first Festival of Circular Economy and Bioeconomy in...

Running from November 28 to December 2, the activities...

EIT Climate-KIC organises first Festival of Circular Economy and Bioeconomy in Santander
In The News
What does climate action look like for the Culture and Creative Sector Industr...

The Culture and Creative Sector Industries (CCSI) can play...

What does climate action look like for the Culture and Creative Sector Industries?
In The News
Collaboration and knowledge sharing is key to unlocking capital for climate ne...

In order to reach net zero by 2030, or...

Collaboration and knowledge sharing is key to unlocking capital for climate neutrality
In The News
Gipuzkoa shapes the green future with local actors

Gipuzkoa is taking action towards sustainability through collaboration with...

Gipuzkoa shapes the green future with local actors
In The News
How can we enable African climate innovation to thrive?  

Much of the discussion around COP27 this year has...

How can we enable African climate innovation to thrive?  
In The News
EIT Climate-KIC and partners publish recommendations to include systemic lands...

The European Green Deal represents a unique opportunity for...

EIT Climate-KIC and partners publish recommendations to include systemic landscape thinking into EU policies to achieve the Green Deal
In The News
The challenges of building a resilient farmers’ community in Africa

Audrey S-Darko is a researcher and a farmer from...

The challenges of building a resilient farmers’ community in Africa
In The News
EIT Climate-KIC joins business and civil society to call on governments to uph...

As the official COP27 outcomes are being drafted this...

EIT Climate-KIC joins business and civil society to call on governments to uphold commitments to 1.5
In The News
Climate innovation: “The purpose is people, everything else is just the mean...

Massamba Thioye is leading the UN climate change Global...

Climate innovation: “The purpose is people, everything else is just the means”
In The News
Become a European Climate Leader

The Climate-KIC International Foundation is looking for a Supervisory...

Become a European Climate Leader
In The News
EIT Climate-KIC launches open-access database to map start-up ecosystem, now w...

Climate start-ups supported by EIT Climate-KIC are now worth...

EIT Climate-KIC launches open-access database to map start-up ecosystem, now worth €11.8 billion in combined enterprise value
In The News
Slovenia higher education reform aims to create a supportive environment for s...

Slovenia’s ministry of higher education is gearing up for...

Slovenia higher education reform aims to create a supportive environment for students and teachers
In The News
Co-designing the future of coal regions

EIT Climate-KIC launches the Post Coal Future Lab initiative...

Co-designing the future of coal regions
In The News
Bringing in business is key to achieving systems transformation on the climate...

“What does it mean to enable businesses to deal...

Bringing in business is key to achieving systems transformation on the climate crisis
In The News
What will it take to build the New European Bauhaus?

“Beautiful, Sustainable, Together”. These are the values – and...

What will it take to build the New European Bauhaus?
In The News
EIT Climate-KIC selects five partners in Global South to implement gender main...

The intersection of climate and innovation remains a male-dominated...

EIT Climate-KIC selects five partners in Global South to implement gender mainstreaming into entrepreneurship
In The News
Citizens inspire a car-free Leuven

A broad survey, possible solutions displayed on screens, inspirational...

Citizens inspire a car-free Leuven
In The News
EIT Climate-KIC accelerates climate tech solutions for a net-zero Africa 

Climate-focused start-up teams in developing countries face distinct challenges...

EIT Climate-KIC accelerates climate tech solutions for a net-zero Africa 
In The News
New European Bauhaus Hackathons will reward most innovative solutions

EIT Community New European Bauhaus partners will be hosting...

New European Bauhaus Hackathons will reward most innovative solutions
In The News
Slovenia takes a pivotal turn towards circularity

Slovenia has decided to actively combat climate change by...

Slovenia takes a pivotal turn towards circularity
In The News
Innovative climate projects part of EIT Community New European Bauhaus initiat...

The European Institute of Innovation and Technology (EIT) has...

Innovative climate projects part of EIT Community New European Bauhaus initiative
In The News
A new air and climate plan for Milan

The City Council of Milan approved the Air and...

A new air and climate plan for Milan
In The News
Meet the three EIT Climate-KIC innovators nominated for EIT Awards

Three innovators from EIT Climate-KIC’s community have been nominated...

Meet the three EIT Climate-KIC innovators nominated for EIT Awards
In The News
100 European cities take up the challenge to become carbon neutral by 2030

On Monday 13 June, the representatives of the 100...

100 European cities take up the challenge to become carbon neutral by 2030
In The News
The role of cities and regions in transforming wood value chains

Climate smart forest economies It’s a crucial decade for...

The role of cities and regions in transforming wood value chains
In The News
Glasgow City Region pioneering forest economy innovation to drive climate acti...

Scotland’s largest city region is actively tackling climate change...

Glasgow City Region pioneering forest economy innovation to drive climate action
In The News
Forging sustainable timber construction in Europe

EIT Climate-KIC and Built by Nature, announce an initiative...

Forging sustainable timber construction in Europe
In The News
EIT Climate-KIC launches new Circularity Thinking training programme

EIT Climate-KIC is launching Circularity Thinking courses to tackle...

EIT Climate-KIC launches new Circularity Thinking training programme