🏆 Deal of the Month · April 2022
Climeworks raised CHF 600M in a Private Equity round, with the valuation remaining undisclosed; the round closed in April 2022. The syndicate was broad-based, drawing participation from nine institutional and strategic investors across Europe, North America, and Asia. Climeworks was recognised as Venionaire DealMatrix Deal of the Month for April 2022 in connection with 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 notable for its breadth: it spans long-term growth equity managers (Baillie Gifford, M&G Investments), sovereign wealth (GIC), specialist private equity (Partners Group), and strategic corporate capital (Swiss Re), alongside dedicated climate-focused vehicles. This diversity of capital type signals institutional conviction in the commercial viability of direct air capture at scale.
What does Climeworks do?
Climeworks AG is a Swiss CleanTech company founded in 2009 by mechanical engineers Jan Wurzbacher and Christoph Gebald, who serve as co-CEOs. The company specialises in direct air capture and carbon sequestration (DACCS), removing CO₂ directly from ambient air through an adsorption-desorption process and permanently storing it. Its flagship commercial plants, 'Orca' and 'Mammoth', are both located in Iceland and supply verified carbon dioxide removal credits to corporate and individual buyers. Climeworks is headquartered in Zürich, Switzerland, and operates more than 15 plants globally.
Climeworks valuation & multiples
No existing multiples analysis was provided for this deal. Because Climeworks operates in the CleanTech sector and the post-money valuation was not disclosed, an EV/Sales or EV/EBITDA derivation cannot be established from the verified data. For benchmark sector multiples relevant to CleanTech transactions, visit the Venionaire DealMatrix CleanTech sector multiples pages.
Explore the benchmarks: CleanTech.
Frequently asked questions
How much did Climeworks raise in its Private Equity?
Climeworks raised CHF 600M in a Private Equity round that closed in April 2022.
What is Climeworks's valuation?
Climeworks's 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.