Climeworks
Climeworks is a Direct Air Capture company founded in 2009 and based in Zurich, Switzerland. It has raised $812M in total funding, most recently an Equity in 2025.
Founded in 2009 as an ETH Zurich spinout, Climeworks is the most established direct air capture company, operating the Orca (2021) and Mammoth (2024) plants in Iceland that pair amine-based solid sorbents with geothermal heat and mineralize captured CO2 underground with partner Carbfix. It has raised over $1 billion, including a CHF 600 million equity round in 2022 and a further $162 million in 2025. In May 2025 the company announced layoffs of roughly 20% of its ~500-person workforce amid weaker-than-targeted plant output and shifting climate-policy and funding conditions.
The pioneer and bellwether of solid-sorbent DAC, whose plant performance and finances set expectations for the entire carbon-removal industry.
climeworks.com ↗·Direct Air Capture·
Switzerland·private 
