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
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
In The News
EIT Climate-KIC announces four winners of EIT Community Booster

EIT Climate-KIC selected four cleantech start-ups to be part...

EIT Climate-KIC announces four winners of EIT Community Booster
In The News
Science reveals last paths to stop irreversible planetary damage

Climate change is going to get worse, but curbing global warming is...

Science reveals last paths to stop irreversible planetary damage
In The News
EIT Community presents New European Bauhaus Ideation Awards winners

Supported by the EIT Community, the New European Bauhaus...

EIT Community presents New European Bauhaus Ideation Awards winners
In The News
EIT Climate-KIC joins forces with the Government of Ireland to stimulate clima...

The Ministry of Agriculture, Food and the Marine of...

EIT Climate-KIC joins forces with the Government of Ireland to stimulate climate innovation in the agri-food sector
In The News
Climate Lab: EIT Climate-KIC co-initiates hotspot for Vienna’s climate ambit...

Climate Lab in Vienna will give climate actors an...

Climate Lab: EIT Climate-KIC co-initiates hotspot for Vienna’s climate ambitions
In The News
Seven takeaways from the latest IPCC report

On 28 February, the IPCC Sixth Assessment Report (AR6)...

Seven takeaways from the latest IPCC report
In The News
EIT launches new Global Outreach website

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

EIT launches new Global Outreach website
In The News
EIT Climate-KIC and Amazon launch call for sustainable start-ups

Working on transformative, systemic innovation to accelerate a net-zero...

EIT Climate-KIC and Amazon launch call for sustainable start-ups
In The News
Votes open for the 2021 New European Bauhaus Ideation Awards – Audience Awar...

Do you want to support innovative solutions that integrate...

Votes open for the 2021 New European Bauhaus Ideation Awards – Audience Award
In The News
Brill Power’s new innovation radically increases battery life and storag...

Brill Power, supported by EIT Climate-KIC, has launched the...

Brill Power’s new innovation radically increases battery life and storage capacity
In The News
EIT Climate-KIC CEO Dr. Kirsten Dunlop gives TEDx Talk

EIT Climate-KIC CEO Dr. Kirsten Dunlop delivered a talk,...

EIT Climate-KIC CEO Dr. Kirsten Dunlop gives TEDx Talk
In The News
Putting theory into practice: EIT Climate-KIC Pioneer innovating the Greek mar...

To tackle complex climate challenges, we need a broader...

Putting theory into practice: EIT Climate-KIC Pioneer innovating the Greek maritime sector
In The News
EIT launches call for proposals to boost innovation in Higher Education Instit...

Unlocking the potential of higher education institutions for innovation...

EIT launches call for proposals to boost innovation in Higher Education Institutions
In The News
The Dolomites forging climate resilience

The Italian Dolomites, a UNESCO World Heritage Site, are...

The Dolomites forging climate resilience
In The News
People-powered resilience: Andalusia announces new climate action plan

The region’s climate action plan has been announced, with...

People-powered resilience: Andalusia announces new climate action plan
In The News
Built by Nature: new initiative to accelerate the transition to sustainable co...

The built environment accounts for close to 40 per...

Built by Nature: new initiative to accelerate the transition to sustainable construction in cities
In The News
The State of California and EIT Climate-KIC advance partnership for climate in...

Glasgow, 8 November – The California Governor’s Office of...

The State of California and EIT Climate-KIC advance partnership for climate innovation