Founded by engineers Christoph Gebald and Jan Wurzbacher in November 2009 as a spin-off from ETH Zurich, 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 fizzy drinks. Climeworks direct air capture technology runs exclusively on clean energy, and the modular CO2 collectors can be stacked to build machines of any size.
Climeworks mission is to solely protect the planet to ensure a liveable future for generations to come, it aims to accomplish this by using its direct air capture (DAC) technology. Through a three-step process, the air is drawn in through a fan located inside the collector. Once sucked in, it passes through a filter located inside the collector which traps the carbon dioxide particles.When the filter is completely full of CO₂, the collector closes, and the temperature rises to about 100 °C. This causes the filter to release the CO₂.
Air capture is urgently needed, and according to Climework, “the latest IPCC (International Panel on Climate Change) report clearly states that urgent climate action is needed to halve emissions by 2030. To do so, we must both drastically reduce emissions and remove legacy CO₂ emissions from the air. In order to permanently remove the CO₂ emissions we’ve captured, we combine our DAC technology with CO₂ storage and safely transport them deep underground.”
Recently, Climeworks have signed a 13-year carbon dioxide removal agreement with Partners Group, a leading global private markets firm. Under this agreement, Climeworks will remove more than 7,000 metric tons of CO₂ from the atmosphere on Partners Group’s behalf, which will be permanently stored underground.
The DAC agreement with Climeworks is a significant step for Partners Group, which announced in 2022 that it would develop a decarbonization program to achieve net zero corporate greenhouse gas (GHG) emissions by 2030. Partners Group co-led a CHF 600 million fundraising round in Climeworks in 2022 on behalf of its clients.
David Layton, Partner and Chief Executive Officer, Partners Group, comments, “the agreement with Climeworks reflects Partners Group’s focus on sustainability and its commitment to achieving positive stakeholder impact over the long term. Our aim is to be a sustainability leader in private markets, by driving forward positive change at the companies under our stewardship, and also by playing a leading corporate role in the transition to a net zero global economy.”
Sources: Climeworks , Wipo
