Climeworks

What Climeworks does

Climeworks AG is a privately held Swiss direct air capture (DAC) company founded in 2009 by Jan Wurzbacher and Christoph Gebald at ETH Zurich, headquartered in Opfikon (Zürich), with subsidiaries in Germany, the United States (Austin, Texas), Iceland (operations), and Canada (Calgary, established February 2026). The company captures CO2 directly from ambient air using a proprietary solid-sorbent collector that binds CO2 and releases it at approximately 100°C using low-grade heat, after which the CO2 is permanently mineralized underground via partner Carbfix in Icelandic basalt formations, forming Climeworks' DAC+S service. Climeworks operates the Capricorn hundreds-of-tons plant (2017), Orca thousands-of-tons plant (2021), and Mammoth tens-of-thousands-of-tons plant (2024) in Iceland, and is validating its Generation 3 technology (double capacity, half the energy per ton, triple material lifetime, 50% lower cost per ton) at a large-scale Test Center in Basel and a new DAC Innovation Center in Zurich (opened December 2025 with 50+ engineers).

Climeworks monetizes DAC through three primary channels: (1) multi-year (typically 10-year) corporate offtake agreements with named buyers such as Microsoft, JP Morgan, Swiss Re, UBS, Schneider Electric (31,000 tons), SAP (37,000 tons), NTT DATA (hundreds of kilotons), Tapestry, and TD Bank, executed at quoted/negotiated per-ton prices; (2) Climeworks Solutions, an end-to-end managed portfolio service combining proprietary DAC with biochar, BECCS, enhanced rock weathering, afforestation, mangroves, mineralization, and super-pollutant credits under a single master agreement, serving 200+ enterprises with a stated 100% delivery track record; and (3) a self-service storefront at fixed per-ton tiers of $100/ton (Nature focus), $250/ton (Nature & Technology), and $500/ton (Technology focus), available via monthly or annual subscriptions and one-off purchases by individuals and SMBs. The go-to-motion is enterprise field sales for offtake contracts and direct online sales for the standardized retail tiers.

The company has raised over USD 1 billion in cumulative equity funding across multiple rounds, including a USD 650M round in April 2022 (then the largest for a carbon removal startup) led by Partners Group and GIC, and a USD 162M round in July 2025, with a separate USD 50M award from the U.S. Department of Energy for Project Cypress. Customers span banking/financial services (JP Morgan, UBS, Swiss Re, LGT, TD Bank, HSBC-linked advisory), technology/infrastructure (Microsoft, NTT DATA, Stripe, Shopify, Square, Zendesk, Accenture), industrial/energy (Schneider Electric, SAP, MOL, NYK, PwC), and consumer/retail (H&M, Swarovski, Tapestry, Ocado, Mammut, AMAG, The Economist Group).

Name

Climeworks

Legal name

Climeworks AG

Website

https://climeworks.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

251–500 employees

Short description

Climeworks is a Swiss privately-held company founded in 2009 that operates proprietary Direct Air Capture plants in Iceland and sells carbon removal credits and managed CDR portfolios to 200+ enterprises globally via long-term offtake contracts and a self-service online store.

Ownership category

akta.pro rank

Product category

Direct Air Capture / Carbon Removal

akta.pro primary industry

Direct Air Capture (DAC) Systems & Plants (EUABAFAA)

akta.pro secondary industries

Carbon Removal Project Development, Financing & Offtake (Developers, Aggregators, Buyers Clubs) (EUABAFAL), Post-combustion Capture Systems (Solid Sorbents & Structured Adsorbents) (EUABAGAB), Carbon Removal Credits Trading (DAC, BECCS, Biochar, Mineralization) (EUAGAIAL)

Keywords

• Direct air capture
• Carbon removal solutions
• Permanent CO2 storage
• Engineered carbon removal
• Climate technology

Headquarters

HQ city

Zürich

HQ country

Switzerland

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Operations, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Long-term corporate DAC offtake agreements: Multi-year (typically 10-year) carbon removal purchase contracts with enterprises and financial institutions locking in capacity, providing planning security and serving as the primary revenue backbone.
2. Climeworks Solutions managed portfolios: Tailored, multi-pathway CDR portfolios for businesses, combining engineered (including proprietary DAC) and nature-based credits under a single master agreement with active portfolio management.
3. Self-serve standardized CDR subscriptions: Direct online purchases by individuals and SMBs of standardized portfolios (Nature focus, Nature & Technology, Technology focus) at fixed per-ton prices with subscription and one-off payment options.
4. Per-ton carbon removal unit sales: Unit-priced carbon removal credits sold via the storefront and B2B contracts at transparent per-ton price points (e.g., $100, $250, $500/ton tiers).
5. Equity and project finance investment rounds: Capital raised via equity funding rounds (e.g., $650M in 2022, $162M in 2025) plus project finance for plant build-out — capital markets activity funds DAC capacity expansion.

Pricing tiers

Go-to-market motion1 record

Core offering

Climeworks builds and operates proprietary Direct Air Capture (DAC) plants that pull CO2 from ambient air using solid sorbent collectors, then transfers the CO2 to partners for permanent underground mineralization. Through its Climeworks Solutions portfolio arm, the company also designs, delivers, and manages multi-pathway carbon removal portfolios combining its own engineered DAC with nature-based solutions for enterprise customers under single master agreements. Self-serve standardized portfolios (Nature focus, Nature and Technology, Technology focus) are sold online to individuals and SMBs at fixed per-ton prices.

Differentiator

Problem solved

Functional benefit

Brands

• Climeworks Solutions: Climeworks' portfolio arm that designs, delivers and manages tailored carbon removal portfolios combining engineered and nature-based solutions through rigorous due diligence; serves more than 200 leading enterprises globally.

Products and services

• Direct Air Capture (DAC) Technology Climeworks' proprietary Direct Air Capture (DAC) technology captures CO2 directly from ambient air using a solid sorbent that binds CO2 at low temperature and releases it upon heating at approximately 100 C; the CO2 is then transferred to trusted partners (Carbfix) for permanent underground mineralization. Generation 3 technology is in large-scale validation since 2024 with targets of double CO2 capture capacity, halved energy consumption per ton, tripled material lifetime, and 50 percent cost reduction per ton of CO2 captured versus prior generations. Sold as long-term offtake capacity to enterprise buyers.
• Climeworks Solutions (Managed Carbon Removal Portfolios) End-to-end carbon removal portfolio service launched in April 2024 that designs, delivers, and manages tailored carbon removal portfolios combining engineered (including Climeworks' own DAC) and nature-based solutions under a single master agreement with rigorous due diligence. Trusted by more than 200 leading enterprises worldwide, with active management of suppliers, timelines, and replacements and a stated 100 percent delivery track record. Includes Biochar, BECCS, Enhanced Rock Weathering, Afforestation/Reforestation, Improved Forest Management, Mangroves, Mineralization, and super-pollutant removals in addition to DAC.
• Self-Service Carbon Removal Portfolios (Nature Focus, Nature and Technology, Technology Focus) Standardized carbon removal portfolios available for direct online purchase by individuals and SMBs: Nature focus (90 percent nature-based, 10 percent technology-based, USD 100/ton), Nature and Technology (70/30 balanced, USD 250/ton), and Technology focus (100 percent technology-based, USD 500/ton). All portfolios are SBTi-aligned, verified or certified by Puro or Isometric, with carbon removal delivered within seven years of purchase. Available via the Actnow storefront with one-off or monthly/annual subscription billing.
• Orca DAC+S Plant Climeworks' Orca is the world's first commercial Direct Air Capture and Storage (DAC+S) plant, located in Hellisheidi, Iceland. It captures thousands of tons of CO2 per year, which is then mineralized underground through partner Carbfix. Carbon removal from Orca has been the first DAC removal certified through the puro.earth registry and the first DAC plant to receive a BeZero Carbon AAA rating.
• Mammoth DAC+S Plant Mammoth is Climeworks' largest operating DAC+S plant, located in Hellisheidi, Iceland, inaugurated in 2024 at nine times the size of Orca. It operates at tens of thousands of tons of CO2 capacity per year, is supported by growing long-term customer offtake agreements, and is designed for climate impact at scale.

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature8 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Heirloom: US-based direct air capture company using limestone-based DAC technology. Co-developer with Climeworks on the US DOE Project Cypress DAC hub in Louisiana, making it the closest US counterpart in commercial DAC deployment and federal funding capture.
• CarbonCapture Inc. US-based DAC startup developing solid sorbent and other engineered DAC approaches at commercial scale. Directly comparable to Climeworks in technology category, target customers, and project economics.
• Global Thermostat: Pioneering commercial DAC company that captures CO2 from ambient air using solid sorbent contactors. Comparable to Climeworks in core technology approach (solid sorbent DAC), target buyer base, and pursuit of cost-down through successive generations.

Broad incumbents

• 1PointFive (Occidental Petroleum subsidiary): Occidental's carbon management business (incorporating Carbon Engineering) building Stratos, one of the world's largest planned DAC facilities in Texas. Comparable as a DAC operator but with the backing of a major oil and gas balance sheet, giving it differentiated capital access versus venture-backed Climeworks.

Emerging players

• Equatic: Engineered carbon removal company using ocean-based electrochemical CDR plus DAC. Comparable to Climeworks as a venture-backed engineered CDR operator selling permanent removal credits to enterprise buyers, but with a differentiated (ocean alkalinity) capture pathway.
• AtmosClear: Early-stage DAC startup developing modular direct air capture systems. Comparable to Climeworks in technology category (solid sorbent DAC) and target end market (enterprise CDR procurement), but at a significantly earlier stage of commercialization.
• CarbonOrO: Direct air capture startup pursuing mineral carbonation-based permanent removal pathways. Comparable to Climeworks as an engineered CDR venture focused on permanent storage, though operating a different mineralization approach than Climeworks' Carbfix partnership.

Others

• Puro.earth: Carbon removal registry and methodology provider through which Climeworks achieved the world's first certified DAC removal. Ecosystem partner and indirect comparable as a critical infrastructure layer enabling Climeworks' CDR pricing and buyer confidence.
• Isometric: Carbon removal registry and verification standard used to certify Climeworks Solutions' portfolios. Functions as adjacent infrastructure (similar role to Puro.earth) for the same buyer market that Climeworks serves.
• Frontier (Stripe-led advance market commitment): Stripe-anchored advance market commitment that has been a major offtake buyer for engineered CDR including DAC. Comparable as a counterparty shaping Climeworks' customer pipeline and as an ecosystem coordinator for the broader permanent removal market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Climeworks
• YouTubeyoutube.com/channel/UCoDhlEOjYIq926UN1zse1_Q/videos
• Facebookfacebook.com/climeworks
• LinkedInlinkedin.com/company/climeworks
• Instagraminstagram.com/climeworks

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries3 records

Funding overview

Funding rounds10 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Climeworks