Climeworks previously raised 73 million francs in a first phase of this funding round back in June. The round has now been concluded in August, bringing the total raised to 100 million francs. According to a company press release, this is the largest ever investment into direct air capture technology.
With the technology developed by Climeworks, carbon dioxide can be filtered out of the air directly using clean, renewable energy. This innovation has already been tested and used in various applications. The Karlsruhe Institute for Technology, for example, converts carbon dioxide that Climeworks has captured from air into carbon black, a raw material for high-tech applications. In another collaboration with Lufthansa, carbon dioxide extracted from the atmosphere is being converted into a synthesis gas that can be used to produce jet fuel.
“We are humbled by the commitment of our investors and thankful that we could achieve our target of raising 100 million francs,” said Christoph Gebald, co-founder and co-CEO of Climeworks. This new investment will be used to further improve the technology. “Our vision is to inspire one billion people to remove carbon dioxide from the air – and this investment will help us achieve that goal,” Gebald added.
Climeworks was founded as a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH) and has its headquarters in Zurich.