Total amount raised
CHF733.6 Millions
Latest funding date
4/1/2022
Location
Climeworks has successfully raised over $800 million through multiple funding rounds, with significant backing from investors like Carbon Removal Partners and Partners Group. The company specializes in capturing CO2 from the air using advanced carbon removal technology.
Keep reading to explore the intricacies of Climeworks' fundraising journey and the investors supporting this innovative venture.
What Is Climeworks?
Climeworks, founded in 2009 by Christoph Gebald and Jan Wurzbacher, is headquartered in Zürich, Switzerland. The company specializes in capturing CO2 from the air using advanced Direct Air Capture technology.
With a team of 101-250 employees, Climeworks offers carbon removal services to businesses and individuals, providing tailored carbon removal portfolios and an online store for carbon removal purchases.
Climeworks' innovative approach combines nature-based solutions with engineered technologies, aiming to deliver high-quality, science-based carbon removal strategies.
How Much Funding Has Climeworks Raised?
- Pre-Seed Round
- Amount Raised: CHF 100K
- Date: May 2010
- Lead Investors: Venture Kick
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop initial prototypes and validate the technology.
- Grant
- Amount Raised: CHF 20K
- Date: November 2009
- Lead Investors: Venture Kick
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development.
- Grant
- Amount Raised: CHF 10K
- Date: July 2009
- Lead Investors: Venture Kick
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial research.
- Series B
- Amount Raised: CHF 3M
- Date: April 2014
- Lead Investors: Zürcher Kantonal Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale up the technology.
- Venture Round
- Amount Raised: CHF 30.5M
- Date: August 2018
- Lead Investors: Zürcher Kantonal Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To commercialize the technology and build initial facilities.
- Venture Round
- Amount Raised: CHF 100M
- Date: June 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and deploy carbon capture solutions.
- Private Equity Round
- Amount Raised: CHF 600M
- Date: April 2022
- Lead Investors: GIC, Partners Group
- Valuation at Round: Estimated over CHF 1 billion
- Motivation Behind the Round: To scale up to multi-million-ton capacity and implement large-scale facilities.
Total Amount Raised: Over USD 800 million. Current Valuation: Estimated over CHF 1 billion.
Key Investors
- Partners Group
- Details: Partners Group is a global private markets investment manager headquartered in Switzerland. They manage a broad range of investment programs across private equity, private real estate, private infrastructure, and private debt.
- Investment Focus Areas: Private equity, private real estate, private infrastructure, private debt
- Notable Investments: GlobalLogic, Techem, United States Infrastructure Corporation
- GIC
- Details: GIC is a sovereign wealth fund established by the Government of Singapore to manage Singapore's foreign reserves. It is one of the world's largest global investors, with a diversified portfolio across various asset classes.
- Investment Focus Areas: Equities, fixed income, real estate, private equity, infrastructure
- Notable Investments: Alibaba, Blackstone, UBS
- Baillie Gifford
- Details: Baillie Gifford is an investment management firm based in Edinburgh, Scotland. Known for its long-term growth investment strategy, the firm manages a range of equity, fixed income, and multi-asset portfolios.
- Investment Focus Areas: Technology, healthcare, consumer goods
- Notable Investments: Tesla, Amazon, Spotify
- Carbon Removal Partners
- Details: Carbon Removal Partners is a venture capital firm focused on investing in technologies that remove carbon dioxide from the atmosphere. They aim to support startups that contribute to mitigating climate change.
- Investment Focus Areas: Carbon removal technologies, clean energy, environmental sustainability
- Notable Investments: Various carbon removal startups
- Swiss Re
- Details: Swiss Re is a leading global reinsurance company based in Zurich, Switzerland. They provide reinsurance, insurance, and other forms of risk transfer solutions to clients worldwide.
- Investment Focus Areas: Reinsurance, insurance, risk management
- Notable Investments: Various insurance and reinsurance projects
What's Next for Climeworks?
Climeworks stands at the cusp of a transformative opportunity, with the carbon removal market projected to become a trillion-dollar industry. The company aims to scale its Direct Air Capture technology to a multi-million-ton capacity, implementing large-scale facilities to meet the growing demand for carbon removal solutions. This expansion is bolstered by substantial financial backing, including a recent CHF 600 million equity round, positioning Climeworks to play a pivotal role in global climate efforts.
Future fundraising opportunities appear promising, given the significant interest from high-profile investors like Partners Group and GIC. As Climeworks scales its operations, it may attract further investment to support technological advancements and market expansion. However, the company faces challenges such as technical and logistical hurdles in scaling up, regulatory complexities, and competition from other carbon removal technologies. Navigating these obstacles will be crucial for Climeworks to maintain its leadership in the industry.
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