Climeworks raises CHF 600 million in latest equity round
    Climeworks raises CHF 600 million in latest equity round
    Press releases

    Climeworks raises CHF 600 million in latest equity round

    24 January 2023

    ●  Climeworks has signed an equity round of CHF 600 million (USD 650 million)

    ●  The new investor base includes several of the most renowned and largest institutional technology and infrastructure investors globally

    ●  The trust placed by those high-quality investors is a testament of Climeworks' strength as the most advanced direct air capture player and as pioneer of the carbon removal industry
    The latest report by the IPCC, released on Monday, reconfirms that carbon dioxide removal is essential to limit global warming to 1.5°C. In addition to drastic emissions reductions, carbon removal solutions need to be deployed at scale to remove historic and residual CO₂ emissions to reach net-zero emissions by 2050, and eventually net-negative emissions.
    Today, Climeworks announced that it has signed an equity round of CHF 600 million (USD 650 million), which marks a major milestone in the history of Climeworks and an even bigger step for the carbon removal industry.
    The financing is co-led by Partners Group (acting on behalf of its clients) and GIC, with further participation from (in alphabetical order) Baillie Gifford, Carbon Removal Partners, Global Founders Capital, John Doerr, M&G, Swiss Re, as well as other new and existing shareholders including long-term investor and anchor shareholder BigPoint Holding AG. J.P. Morgan Securities LLC served as sole placement agent for Climeworks in connection with the transaction.
    Since its foundation in 2009, 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 in September 2021. The new investor base includes several of the most renowned and largest institutional technology and infrastructure investors globally. The funding will unlock the next phase of Climeworks' growth, scaling direct air capture 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 globally leading investors towards the scale up of our technology; this is a great milestone for our company as well as the entire industry."

    Christoph Gebald, co-founder and co-CEO of Climeworks

    “We founded Climeworks with the vision to provide the world a tech that has the potential to reverse climate change. Accelerating the scale up of carbon removal capacity will play a crucial role in global efforts to keep global warming under 1.5°C, positively impacting the lives of billions of people. And this is what we will do starting now.”

    Jan Wurzbacher, co-founder and co-CEO of Climeworks

    About Climeworks

    Climeworks empowers people and companies to fight global warming by offering carbon dioxide removal as a service via direct air capture (DAC) technology. At Orca, Climeworks’ DAC facility in Iceland, the CO2 is permanently removed from the air by capturing and geologically storing it for thousands of years with Climeworks’ storage partner Carbfix. Climeworks’ DAC facilities run exclusively on clean energy, and our modular CO2 collectors can be stacked to build machines of any capacity. 
    Founded by engineers Christoph Gebald and Jan Wurzbacher in 2009, Climeworks is on a journey to climate impact at scale. To do so, we strive to inspire 1 billion people to act and remove CO2 from the air. Climeworks is spear-heading the DAC industry globally, with the world’s largest DAC facility and storage installation in operation and a team of 300 Climeworkers determined to contribute to a net-zero future. Our growing customer base includes over 160 companies, including multinationals such as Microsoft, BCG, UBS or Swiss Re, as well as more than 18,000 individual Climate Pioneers.
    For more information, please reach out to Climeworks' media team:
    Learn more about us: Web • LinkedIn • Twitter • Instagram • Facebook
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