Swiss unicorn Climeworks seeks Hong Kong investors for carbon capture projects
Climeworks, the builder of the world’s largest carbon capture plant, is seeking investors for ambitious multibillion-dollar ventures
Switzerland-based Climeworks, which has built the world’s largest carbon capture plant, is in discussions with Hong Kong investors, offering them exposure to potentially lucrative projects that cost between US$2 billion and US$3 billion to build.
Some of the talks are at an advanced stage, but the high financing costs and deployment of relatively new technology on capital-intensive infrastructure mean only investors with a long investment horizon would be a suitable match, said co-founder and co-CEO Christoph Gebald.
“We need investors who are interested in creating a very big industry not for the next year, but the next 20 years,” he said in an interview during a visit to the city last week.
Gebald said he was mostly discussing potential investments with venture capital firms and large family offices.
Climeworks builds machines to absorb carbon dioxide from the atmosphere and store it in underground reservoirs permanently, or use it to make carbon-neutral fuels and materials.
The climate-tech unicorn’s investors include Zurich-based venture capital firm Carbon Removal Partners, investment manager M&G and insurer Swiss Re.
