Climeworks To Offer Carbon Removal Portfolio Service To Clients

Climeworks To Offer Carbon Removal Portfolio Service To Clients - Carbon Herald
Credit: Climeworks

One of the pioneers in direct air capture technology development Climeworks has expanded beyond its core business. The company announced on April 17th it starts offering Climeworks Solutions – high quality carbon removal portfolio service, tailored to the individual needs of companies.

The service includes secure individually tailored carbon removal portfolios that meet companies’ strategic priorities, timing, quality, and budget demands. The solutions packages will be also sourced and managed by Climeworks. They will include a mix of both engineered and nature-based climate change solutions. The new service will be supplementary to Climeworks’ own direct air capture technology development business, with the goal to accelerate carbon removals and meet the growing demand. 

Relevant: Climeworks Receives Funding For Large-Scale Direct Air Capture in Norway

“At Climeworks, we have 15 years of experience in permanent carbon removal via direct air capture. We have profound insights stemming from real-life operational experience and extensive R&D in technology. Thus, we know what determines best-in-class. This is why we are uniquely positioned to meet the growing demand for carbon removal in the market. A market that, according to analysts, has a trillion-dollar potential in 2050. So far, the market has been dominated by early adopters. Now, we see a next wave of companies entering as buyers and we can serve them according to their individual needs,” said co-founder and co-CEO Christoph Gebald.

According to the company’s announcement, one of the reasons for this step is the fact that acting on purchasing high quality carbon credits still remains challenging for many companies due to the complex range of technologies and suppliers available. Few people have also heard of terms like afforestation, biochar, enhanced weathering, or carbon capture and storage along with the advantages and challenges each approach has in terms of additionality, measurability, durability, or price.   

Relevant: Climeworks Enters Into 9- Year Carbon Removal Deal With LEGO Group

The portfolios will always contain Climeworks’ direct air capture technology as well as the following approaches – afforestation/reforestation, biochar, bioenergy with carbon capture and storage, and enhanced weathering. According to Climeworks, companies will this way have assurance that the solutions they purchase have undergone an in-depth due diligence process and one ton of CO2 purchased represents one ton of CO2 removed.

The company also announced that Breitling – a Swiss luxury watchmaker is the first customer to benefit from the new Climeworks Solutions offering. The companies have closed a 12-year agreement for high quality climate change solutions, advancing Breitling’s existing net-zero roadmap and efforts to take pioneering climate action. The company is the first watchmaker to benefit from Climeworks’ direct air capture carbon removals.

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