Swiss Climate-KIC’s Climeworks closes financing round
Climate-KIC start-up Climeworks, provider of solutions for efficiently capturing CO2 out of ambient air, has announced the closing of its series B financing round, amounting to CHF3m (€2.46m).
The proceeds will be used to further industrialise Climeworks’ product as well as to build the first commercial scale CO2 capture plant. Climeworks is currently finalising the construction of an industrial scale CO2 capture unit with a capacity of 50 tonnes of CO2 per year. The round was funded by a group of private investors and the Zürcher Kantonalbank (ZKB).
Climeworks, a spin-off from ETH Zürich and supported by the Climate-KIC Accelerator, aims to close the carbon cycle in the energy sector. With air-captured CO2 from Climeworks, renewable energy can be stored efficiently by producing synthetic fuels using power-to-gas or power-to-liquids technology. These fuels produced from atmospheric CO2 are carbon neutral and do not compete with food production from agricultural crop land.
