🏆 Deal of the Week · CW 14/2022
Climeworks raised CHF 600M in a Private Equity round; the post-money valuation was not disclosed. The round drew participation from a broad syndicate of institutional and strategic investors spanning Europe, Asia, and the United States. No single lead investor was publicly designated for this transaction.
Climeworks — key deal facts
| Company | Climeworks |
| Founded | 2009 |
| Headquarters | Zürich, Switzerland |
| Amount raised | CHF 600M |
| Valuation | Valuation Remains Undisclosed |
| Round | Private Equity |
| Investors | Baillie Gifford (https://www.bailliegifford.com) BigPoint Holding (https://www.bigpoint.net) Carbon Removal Partners (https://www.carbonremovalpartnership.net) GIC (https://www.gic.com.sg) Global Founders Capital (https://www.globalfounderscapital.com) John Doerr M&G Investments (https://www.mandg.com/investments/gb) Partners Group (https://www.partnersgroup.com/en/) Swiss RE (https://www.swissre.com) |
| Sectors | CleanTech |
Who invested in Climeworks?
The round was backed by Baillie Gifford, BigPoint Holding, Carbon Removal Partners, GIC, Global Founders Capital, John Doerr, M&G Investments, Partners Group, and Swiss Re. The investor mix is notably diverse, combining long-horizon institutional asset managers such as Baillie Gifford and M&G Investments with sovereign wealth capital from GIC, reinsurance from Swiss Re, and venture-oriented backers including Global Founders Capital. The presence of Swiss Re and Carbon Removal Partners signals direct strategic alignment between the investors and the carbon removal market Climeworks serves.
What does Climeworks do?
Climeworks is a Swiss CleanTech company founded in 2009 by mechanical engineers Christoph Gebald and Jan Wurzbacher, who continue to serve as co-CEOs. The company develops and operates Direct Air Capture (DAC) systems that filter carbon dioxide from ambient air for permanent geological storage, delivering carbon removal as an end-to-end enterprise service. Its flagship facilities include the 'Orca' and 'Mammoth' plants in Iceland, both powered exclusively by clean geothermal energy. Climeworks is headquartered in Zürich, Switzerland, and operates more than 15 plants across Europe.
Climeworks valuation & multiples
No existing multiples analysis was provided for this deal; accordingly, no EV/Sales or EV/EBITDA figures are presented here. As the post-money valuation was not disclosed, a reliable multiple cannot be calculated from the verified deal data. Investors seeking sector-level benchmarks for CleanTech transactions are invited to consult the relevant CleanTech sector multiples pages on DealMatrix.
Explore the benchmarks: CleanTech.
Frequently asked questions
How much did Climeworks raise in its Private Equity round?
Climeworks raised CHF 600M in a Private Equity round, announced in Q1 2022 (Deal of the Week, KW 14/2022).
What is Climeworks's valuation?
Climeworks's post-money valuation was not disclosed in connection with this round.
Who invested in Climeworks?
The round was backed by Baillie Gifford, BigPoint Holding, Carbon Removal Partners, GIC, Global Founders Capital, John Doerr, M&G Investments, Partners Group, and Swiss Re.
When was Climeworks founded and where is it based?
Climeworks was founded in 2009 and is headquartered in Zürich, Switzerland.
Source: original announcement — read the full report.