Climeworks secures $650mn to scale up direct air capture

Swiss startup aims for megaton capacity by 2030

Swiss direct air capture (DAC) startup Climeworks has raised $650mn in a funding round led by private equity firm Partners Group and Singaporean sovereign wealth fund GIC. Additional investors this round include investment managers Baillie Gifford and M&G, venture capital firms Global Founders Capital and Carbon Removal Partners, individual venture capitalist John Doerr and reinsurance giant Swiss Re—which had signed a 10-year carbon removal contract with the company in August last year. The company has signed carbon removal contracts with technology giant Microsoft, global consulting firm Boston Consulting Group and private banking and asset management group LGT. Over 13,000 individuals

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