As the world races to meet climate goals, cutting emissions alone is no longer enough. Scientists now agree: we must also remove billions of tons of CO₂ already in the atmosphere. That’s where carbon removal technology steps in — and Climeworks, a Swiss pioneer in the field, is making serious strides to lead the charge.
Climeworks has just raised $162 million in equity funding, bringing its total capital to over $1 billion — the largest war chest ever assembled by a company dedicated solely to carbon removal. The latest round was led by BigPoint Holding and Partners Group, and it will power Climeworks’ efforts to expand operations and refine its next-gen direct air capture (DAC) systems.
Turning Science into Scalable Climate Action
Founded back in 2009 by engineers Christoph Gebald and Jan Wurzbacher, Climeworks began as a bold idea: capture CO₂ directly from the air and lock it away permanently. Today, that idea has become a commercial reality. Climeworks’ DAC plants run on renewable energy and capture CO₂ from ambient air, which is then stored underground in solid mineral form — safely locked away for thousands of years.
The mission is ambitious: to remove 1 billion tons of CO₂ by 2050. That target aligns with global climate models from the IPCC that show carbon removal must scale dramatically to limit global warming to 1.5°C. What makes Climeworks stand out isn’t just the science — it’s their laser focus on permanence and trust. Every ton of CO₂ they remove is measurable, verifiable, and designed to stay out of the atmosphere for good.
Generation 3 Tech and a Smarter Business Model
At the heart of Climeworks’ momentum is its Generation 3 DAC technology, which marks a significant leap forward. The new system doubles the amount of CO₂ captured per module, slashes energy use in half, and uses longer-lasting filters — all of which cut costs by 50% compared to earlier versions. Their flagship plant, Mammoth in Iceland, is currently the world’s largest, capable of removing 36,000 tons of CO₂ annually.
But Climeworks isn’t putting all its carbon eggs in one basket. It’s also building hybrid removal portfolios, blending its engineered DAC removals with nature-based and third-party options to offer flexible, high-integrity carbon credits. For companies looking to offset emissions responsibly, that kind of transparency and quality matters more than ever.
While rivals like Twelve, Skytree, Heirloom, and Carbyon explore alternative paths — from turning CO₂ into fuels to using algae or building materials — Climeworks continues to double down on durable, permanent removal, a major draw for buyers chasing real climate impact.
Scaling Up for Global Climate Targets
With this latest funding secured, Climeworks is gearing up for serious expansion. The company is actively exploring new DAC sites in the U.S., Canada, the UK, Norway, and even Saudi Arabia. These efforts come at a time when both public and private sectors are ramping up support for carbon removal, offering Climeworks a clear window of opportunity.
Looking ahead, Climeworks wants to bring its cost per ton down to $250–$350 by 2030 — a big step toward making carbon removal technology more accessible to businesses and governments alike. With much of Mammoth’s carbon credits already pre-sold, pressure is building to deliver at scale and prove reliability.
As corporate net-zero pledges surge and global climate policy tightens, demand for high-quality CO₂ removals is expected to explode. Climeworks is positioning itself not just as a tech innovator, but as a key player in a trillion-dollar carbon market.
