Next generation tech powers Climeworks’ megaton leap
Climeworks reveals its latest Generation 3 direct air capture technology to scale up to megaton capacity
Key take-aways:
Climeworks, the world’s leading provider of carbon removal through direct air capture, has signed a multi-year contract with Zürcher Kantonalbank.
The agreement to remove around 1,750 tons of CO₂ complements the Swiss bank's net-zero strategy, which continues to focus on emissions reductions.
Climeworks and Zürcher Kantonalbank already share a long-standing partnership.
Climeworks will remove around 1,750 tons of CO₂ for Zürcher Kantonalbank, which cannot be reduced through its own operations. “At Zürcher Kantonalbank, sustainability is deeply rooted in our operations, making the commitment to net zero central. Our multi-year agreement with Climeworks is a key part of our net-zero strategy, which continues to prioritize emission reductions”, said Urs Baumann, CEO of Zürcher Kantonalbank.
The two companies share a long-standing partnership. Since 2014, Zürcher Kantonalbank is also an investor in Climeworks.
Andreas Aepli, Chief Financial Officer of Climeworks
Zürcher Kantonalbank has recognized the importance of direct air capture for our global climate goals early on. To deploy our technology at a gigaton-scale by 2050 at the latest, as demanded by climate science, we want to establish long-term collaborations with forward-thinking partners.
Highest quality standards in carbon removal
Climeworks' "Orca" plant in Iceland is the world's first direct air capture plant whose deliveries are independently certified and documented in the public Puro registry. The second direct air capture plant, "Mammoth," has been operational in Iceland since May 2024. Starting in 2026, Climeworks plans to introduce its third-generation technology in the U.S., which will be even more efficient.
“Given the global efforts to combat climate change, I believe the market for removing CO₂ from the atmosphere holds significant future potential,” said Urs Baumann, CEO of Zürcher Kantonalbank.
Learn more about Climeworks’ scale-up plans:
Climeworks first DAC company to be certified under Puro Standard
Climeworks is the first direct air capture company worldwide to achieve certification of its carbon dioxide removal activities under the Puro Standard.
Climeworks switches on world’s largest direct air capture plant
Climeworks starts operations of its to-date largest direct air capture and storage plant, Mammoth, in Iceland
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