<div>
  <p>
  </p>
  <ul>
    <li>
      <p>
        Climeworks, a Swiss direct air capture (DAC) startup, has launched Climeworks Solutions, a new service offering carbon removal portfolios, in addition to its DAC-based carbon removal service.
      </p>
    </li>
    <li>
      <p>
        The new structured carbon removal service combines engineered and nature-based approaches, including afforestation and reforestation, biochar, bioenergy with carbon capture and storage, and enhanced weathering. In addition, the company provides third-party verification and in-depth due diligence for the carbon removal portfolios.&nbsp;
      </p>
    </li>
    <li>
      <p>
        The company claimed its move beyond DAC was driven by growing customer demand and the need to scale the carbon removal industry.
      </p>
    </li>
    <li>
      <p>
        In addition to launching the new service, the company also announced Swiss luxury watchmaker Breitling as its first Climeworks Solutions customer, with the companies unveiling a 12-year agreement that includes Climeworks' DAC technology in addition to enhanced weathering.
      </p>
    </li>
  </ul>
  <p>
  </p>
</div>


<div>
  <p>
    <a href="https://climeworks.com/press-release/climeworks-launches-portfolio-offering">
      Press release
    </a>
  </p>
  <p>
    <a href="https://www.esgtoday.com/climeworks-launches-new-carbon-removal-portfolio-service/">
      ESG Today
    </a>
  </p>
  <p>
  </p>
</div>


Carbon Capture, Utilization & Storage (CCUS)

PROMINENT_CATEGORY

<div>
 
 <p>Swiss company Climeworks has introduced a service, Climeworks Solutions, that offers carbon removal portfolios in addition to its primary direct air capture (DAC) carbon removal service. This new service combines engineered and natural techniques such as reforestation, biochar, bioenergy with carbon capture, and enhanced weathering. The company also provides third-party verification and in-depth due diligence for these carbon removal portfolios.</p>
 <p>Climeworks states that this expansion was motivated by an increase in customer demand and a need to scale up the carbon removal industry. Alongside this new service, Climeworks announced a 12-year agreement with its first customer, Swiss luxury watchmaker Breitling, which will include the use of Climeworks' DAC technology and enhanced weathering.</p>
 
</div>

Climeworks launches Climeworks Solutions; expands offerings beyond DAC-based carbon removal

ANALYST_QUICK_TAKE

<div>

 <p>Climeworks, a Swiss direct air capture (DAC) startup, has raised CHF 2.2 million (USD 2.4 million) in funding from Enova, a state-owned company under the Norwegian Ministry of Climate and Environment.</p>
 <p>The funding will be utilised for a feasibility study to develop a DAC+S plant in Norway with a multi-kiloton capacity by 2030.</p>
 <p>The company's Norse Pine project, which has been selected as one of nine winning projects, aims to eliminate 1.7 million tons of CO2 every year. This is roughly half the amount of CO2 emitted by Norway's passenger cars.</p>

</div> <p><b>Analyst QuickTake:<br>
</b> Norway would be the second Scandinavian location for Climeworks, expanding its DAC+S exploration globally after neighbor Iceland. In September 2023, the company announced plans to build a facility in <a href="https:<br>
//climeworks.com/press-release/climeworks-and-great-carbon-valley-chart-path-to-large-scale-dac"> Kenya </a> , plans to expand in Canada with <a href="https:<br>
//sp-edge.com/updates/24271"> Deep Sky </a> , a carbon removal project developer, and receive federal funding for a <a href="https:<br>
//sp-edge.com/updates/27655"> new HQ </a> in Texas, US.</p>

Climeworks raises USD 2.4 million in governmental funding

<div>
 
 <p>Swiss startup Climeworks and the LEGO Group's family-owned holding, KIRKBI, have signed a carbon removal agreement for the next nine years, worth upwards of USD $2.8 million.</p>

</div> <p><b>Analyst QuickTake</b> :<br>
 The LEGO Group’s carbon removal agreement with Climeworks was announced on the heels of a similar carbon removal agreement with <a href="https:<br>
//sp-edge.com/updates/27472"> SWISS </a> , Switzerland’s national airline, and Lufthansa Group, an international airline, to purchase carbon credits in the same month.</p>

Climeworks signs nine-year carbon removal agreement with LEGO Group

<div>
 
 <p>Swiss direct air capture (DAC) startup, Climeworks, has set up its new US headquarters in Austin, Texas and established teams in New York, Washington, and California. Climeworks views the US as a strategic location for DAC technologies, owing to favourable carbon management policies such as the Infrastructure Investment and Jobs Act and the Inflation Reduction Act.</p>
 <p>The company has ambitious growth plans and intends to triple its American team by the end of 2024. Most employees will work from Austin, contributing their expertise in areas such as engineering, project management, supply chain, technology, project development and more. The majority of satellite teams on each coast will be composed of commercial and corporate finance professionals.</p>
 
</div> <p><b>Analyst QuickTake</b> :<br>
 The company’s move to Austin follows the US Department of Energy’s (DOE) selection of all three DAC hubs in which Climeworks participated—Project Cypress:<br>
 Louisiana, Prairie Compass Hub:<br>
 North Dakota, and California DAC Hub—to be eligible for a total of more than USD 600 million in government funding in August 2023.&nbsp;</p>

Climeworks opens news HQ in Austin, Texas

<div>
 
 <p>The Swiss-based direct air capture (DAC) startup, Climeworks, has signed an agreement with both SWISS, the national airline of Switzerland, and the international aviation company Lufthansa Group, for the purchase of carbon credits.</p>
 <p>With the agreement, both SWISS and Lufthansa Group will be buying DAC carbon credits from Climeworks until 2030, with plans to buy more carbon credits as we move forward.</p>
 <p>Through this agreement, Climeworks will be serving its first client in the aviation industry with SWISS, which is also a subsidiary of the Lufthansa Group.</p>
 
</div>

Climeworks signs carbon removal deal with SWISS and Lufthansa Group

<div>
 <p>Swiss direct air capture (DAC) startup, Climeworks, has teamed up with Canadian carbon capture startup, Svante. The collaboration involves the use of Svante's CO2 filter technology to enhance the efficiency of Climeworks' carbon capture process. The two firms have entered into a supply agreement for Svante's contactor blocks, aimed at speeding up the commercialization of Climeworks' projects in the United States, specifically in Louisiana, California, and North Dakota.</p>
</div>

Climeworks collaborates with Svante for US carbon capture projects

INCUMBENTS_PRESENT

Swiss DAC start-up, Climeworks, has partnered with Boston Consulting Group (BCG) for carbon removal and consulting services. This 15-year partnership, which follows a 10-year carbon removal agreement in December 2021, involves the removal of 80,000 tons of CO2, with BCG being the largest corporate buyer of Climeworks as of December 2023. In addition to providing consulting services, this partnership will help achieve BCG's net-zero goal by 2030 and expand Climeworks' global reach. In 2023, BCG also partnered with CarbonCapture for five years to capture 40,000 tons of CO2.

Climeworks and BCG extend partnership to expand DAC technology

<div>
 
 <ul>
  <li><p>Climeworks, a Swiss direct air capture (DAC) startup, and Deep Sky, a Canadian carbon removal project developer, have signed an MOU to develop large-scale carbon capture and storage projects in Canada.</p></li>
  <li><p>The partnership aims to remove and sequester ~one million tons of CO2 using Climeworks' DAC technology. The first facility is planned to be operational before 2030 and will utilize Canada's renewable energy resources.</p></li>
  <li><p>Deep Sky will be the project development partner, exploring sites and energy sources for the DAC projects. They will also work with stakeholders to build the necessary infrastructure.</p></li>
  <li><p>Climeworks plans to expand its capacity to megaton scale by 2030 and gigaton scale by 2050 through this partnership.</p></li>
 </ul>
 
</div>

Climeworks and Deep Sky expand carbon capture projects to Canada

Swiss startup Climeworks has teamed up with Kenyan venture Great Carbon Valley (GCV) to develop large-scale direct air capture and storage (DAC+S) facilities in Kenya. The partners plan to establish a joint venture to deploy the project, with the initial focus on identifying suitable locations for the facilities, low-carbon energy sources, and CO2 sequestration options. The partnership ultimately aims to remove and permanently store one million metric tons of CO2 from the atmosphere by 2028 through commercialized DAC+S facilities.

Climeworks and Great Carbon Valley partners for DAC in Kenya

Swiss company Climeworks has teamed up with Icelandic company Carbfix and Finnish startup Puro.earth to certify its carbon dioxide removal (CDR) services. The partnership aims to standardize Climeworks' direct air capture + storage (DAC+S) projects to meet the requirements of voluntary carbon markets. The integration of the Puro Standard will enhance the quality of Climeworks' Orca project, which was previously verified by DNV in September 2022. This collaboration highlights the importance of standardization and quality assurance in the growing field of carbon dioxide removal.

All Updates