Climeworks Valuation, Funding & Investors

Climeworks is valued at $1.1B as of July 2025.

Last Climeworks valuation

$1.1B

Undisclosed stage · Jul 2025

Last Climeworks funding round

$162M

Undisclosed stage · Jul 2025

Cumulative funding Climeworks raised

$936M

across 5 funding rounds

Key investors in Climeworks

  • Zürcher Kantonal Bank
  • Partners Group
  • BigPoint Holding
  • Global Founders Capital
  • GIC
  • Baillie Gifford

Climeworks Overview

About Climeworks

Climeworks is a Zurich-based direct air capture company operating modular plants like Orca and Mammoth in Iceland. The technology extracts CO2 from ambient air for permanent underground storage via mineralization with Carbfix, serving corporate net-zero commitments under Puro.earth certification standards.


Founded

2009

HQ

SwitzerlandZurich

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.1B (Jul 2025)

Climeworks Valuation

Climeworks is currently valued at $1.1B, based on its undisclosed-stage round in July 2025.

The $162M round was led by BigPoint Holding and Partners Group.

Climeworks valuation by funding round

Climeworks valuation by funding round
DateStageValuation
Jul 2025Undisclosed stage$1.1B

Climeworks Funding History

Climeworks has raised a total of $936M across 5 funding rounds.

Climeworks' first fundraising round was a $3M Series B in April 2014. The most recent completed round was a $162M undisclosed-stage round in July 2025.

Climeworks funding rounds

Climeworks funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jul 2025Undisclosed stageBigPoint Holding (lead); Partners Group (lead)$162M$1.1BClimeworks, a Zurich-based pioneer in direct air capture (DAC) technology, raised USD 162 million in equity funding in early 2025, co-led by BigPoint Holding and Partners Group with participation from existing investors. This round, the largest carbon removal investment globally that year to date, brought the company's total funding since inception to over USD 1 billion. The capital supports scaling DAC technology, reducing removal costs, expanding carbon removal portfolios, and advancing next-generation facilities in locations including the US, Canada, Saudi Arabia, Norway, and the UK. The financing underscores strong investor confidence in Climeworks' technological leadership and commercial momentum amid growing demand for permanent, verifiable carbon removal solutions. Climeworks operates a hybrid model generating cash flow today while building long-term demand, positioning it as a leader in a market projected to reach USD 80 billion by 2030 and USD 1 trillion by 2050. The company runs the world's largest DAC plant launched in 2021 and has secured supply agreements for 6 million tons of removals, with partnerships like Swiss Re for insurance-backed credits. Climeworks maintains first-mover advantage over competitors like Global Thermostat through operational scale and repeat investor support.
Apr 2022Series EGIC (lead); Partners Group (lead); Baillie Gifford; John Doerr; Global Founders Capital; M&G Investments; BigPoint Holding; Swiss Re; Carbon Removal Partners$635M-Climeworks, a Zurich-based pioneer in direct air capture (DAC) technology founded in 2009 as an ETH Zurich spin-off, completed a CHF 600 million (USD 648-650 million) equity funding round in April/May 2022, co-led by Partners Group and GIC, with participation from Baillie Gifford, BigPoint Holding, Carbon Removal Partners, Global Founders Capital, John Doerr, M&G Investments, and Swiss Re. The round, the largest for a carbon dioxide removal company at the time, will fund scaling DAC capacity to multi-million tons annually, building large-scale facilities like the Mammoth plant, technology development, geographical expansion into the US, Nordics, and Middle East, and organizational growth. Climeworks operates the world's largest DAC plant, Orca, launched in Iceland in September 2021, which captures CO2 using filters powered by low-grade heat, with 15 plants built to date generating revenue from selling removal services to businesses and individuals. The funding underscores strong investor confidence in Climeworks' technology leadership amid rising atmospheric CO2 levels and the trillion-dollar carbon removal market potential. It follows a prior $100+ million raise in 2020 and positions Climeworks to capitalize on policy support, market demand, and partnerships like its long-term supply deal with Microsoft announced post-round. Later developments include a 2025 USD 162 million equity round led by BigPoint Holding and Partners Group, pushing total funding over USD 1 billion, focused on further DAC cost reduction and scaling plants like Mammoth.
Jun 2020Series D-$105M-Climeworks, a Swiss company founded in 2009, specializes in direct air capture (DAC) technology to remove carbon dioxide from the atmosphere using renewable energy, providing pure CO2 removal solutions to businesses, organizations, and individuals with climate targets. The company aims to scale its technology to capture one percent of global CO2 emissions by 2025 and inspire 1 billion people to participate in carbon removal. In April 2020, Climeworks announced the first phase of a funding round, raising CHF 73 million (USD 75 million or approximately €67 million) in equity from private investors, described as the largest private investment into DAC at the time. By August 2020, the round was completed with an additional commitment, totaling CHF 100 million (USD 110 million), confirming investor trust in the technology's potential to combat climate change. The funds were allocated to scale and optimize DAC technology, expand removal capacities, advance the scale-up roadmap, and make solutions accessible to more stakeholders. This brought total funding since inception to over CHF 120 million. Climeworks' customers include established businesses and a growing community of individuals.
Aug 2018Series CZürcher Kantonal Bank (lead)$31M-Climeworks, a Zurich-based pioneer in direct air capture (DAC) technology for carbon dioxide removal, raised CHF 30.5 million (USD 30.8 million) in equity funding in 2018 from existing and new private investors, including Zürcher Kantonalbank (Zurich Cantonal Bank). This round brought total private equity and public grants invested in the company to over CHF 50 million. The funds were earmarked to industrialize DAC technology, reduce costs, and prepare for mass production across markets like food and beverage, renewable fuels, materials, and CO2 removal services for companies and individuals offsetting emissions. By mid-2018, Climeworks had expanded from 30 to 60 employees since early 2017 and constructed nine DAC plants in six countries. Key milestones included the world's first commercial DAC plant in Hinwil, Switzerland, launched in May 2017, which sold captured CO2 to a greenhouse, and the first DAC plant with underground CO2 sequestration in Iceland in November 2017. These plants targeted segments from agriculture to permanent carbon storage, positioning Climeworks to capitalize on growing demand. Zürcher Kantonalbank's involvement dated back to 2014 as an early investor, later evolving into operational partnerships like a multi-year CO2 removal contract for 1,750 tons to support the bank's net-zero strategy. Co-founders Jan Wurzbacher and Christoph Gebald highlighted the strong shareholder base enabling industry leadership.
Apr 2014Series BZürcher Kantonal Bank (lead)$3M-Climeworks AG, a provider of direct air capture technology to remove CO2 from ambient air, closed its Series B financing round of CHF 3 million in April 2014. The round was funded by Zürcher Kantonalbank and a group of private investors. Proceeds were allocated to industrialize the product and construct the first commercial-scale direct air capture plant. By 2014, Climeworks had developed its technology from lab to industrial scale, operating a demonstration plant capturing 1 ton of CO2 per year since late 2012. The company was finalizing a 50-ton-per-year industrial unit as the final scale-up step ahead of modular commercial plants. A key collaboration with Audi highlighted applications for renewable fuel production. Zürcher Kantonalbank's investment in 2014 marked the start of a long-standing partnership, later expanded to carbon removal contracts, including a multi-year deal for 1,750 tons of CO2.

Who has invested in Climeworks?

10 investors have backed Climeworks across its funding rounds, including Zürcher Kantonal Bank, Partners Group, BigPoint Holding, Global Founders Capital, GIC and Baillie Gifford.

Lead investors include BigPoint Holding, Partners Group, GIC and Zürcher Kantonal Bank.


Climeworks Investors

Investors in Climeworks by funding rounds participated
InvestorHQRoundsRoleFirst check
Zürcher Kantonal BankSwitzerlandZurich2LeadApr 2014
BigPoint HoldingSwitzerlandZurich2LeadApr 2022
Partners GroupSwitzerlandSwitzerland2LeadApr 2022
Baillie GiffordUnited KingdomEdinburgh1ParticipantApr 2022
John DoerrUnited StatesSan Francisco, CA1ParticipantApr 2022
GICSingaporeSingapore1LeadApr 2022
Global Founders CapitalGermanyBerlin1ParticipantApr 2022
M&G InvestmentsUnited KingdomLondon1ParticipantApr 2022

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Climeworks Competitors

Climeworks competitors include listed companies like Shoals and Canadian Solar, and private ones like Amogy, Gradiant, Palmetto and SKIO Matrix.

Public and private companies comparable to Climeworks
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AmogyUnited StatesNew York City, NYPrivate--$700M-
GradiantUnited StatesBoston, MAPrivate--$1B-
PalmettoUnited StatesCharleston, SCPrivate--$1B-
SKIO MatrixChinaHangzhouPrivate--$1B-
ShoalsUnited StatesUnited StatesPublicly listed$475M$72M$1.3B2.6x
Canadian SolarUnited StatesUnited StatesPublicly listed$5.6B$546M$798M1.5x

Climeworks Public Comps

Climeworks is still privately-owned, but its public comps include Jiangsu Zongyi Co, Arendals Fossekompani, Polenergia, Edenor, Banpu Power, XPLR Infrastructure, HighPeak Energy, Transcorp Power, Thungela Resources and TotalEnergies EP Gabon.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Jiangsu Zongyi Co$70M$41M16.0x-27.6x-
Arendals Fossekompani$394M$33M2.9x42.1x34.7x101.3x
Polenergia$1.1B$75M1.5x1.6x21.8x12.6x
Edenor$2B$533M0.7x0.6x2.6x4.9x
Banpu Power------
XPLR Infrastructure$1.2B$607M11.8x10.7x23.0x-
HighPeak Energy$863M$585M2.4x2.4x3.6x3.6x
Transcorp Power$299M$98M3.8x-11.6x-

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Common questions about Climeworks

When was Climeworks founded?Climeworks was founded in 2009.
Where is Climeworks headquartered?Climeworks is headquartered in Zurich, Switzerland.
Is Climeworks publicly listed?No, Climeworks is a private, VC-backed company.
What is Climeworks' valuation?Climeworks was last valued at $1.1B in its undisclosed-stage round in July 2025.
How much funding has Climeworks raised?Climeworks has raised $936M across 5 funding rounds.
What was Climeworks' last funding round?Climeworks' last funding round was a $162M undisclosed-stage round in July 2025, led by BigPoint Holding and Partners Group.
Who are Climeworks' investors?Climeworks' investors include Zürcher Kantonal Bank, BigPoint Holding, Partners Group, Baillie Gifford, John Doerr, GIC, Global Founders Capital, M&G Investments, Swiss Re and Carbon Removal Partners.
Which companies are comparable to Climeworks?Companies comparable to Climeworks include Amogy, Gradiant, Palmetto, SKIO Matrix, Shoals and Canadian Solar.

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