Climeworks Signs Multi-Year Agreement with Zürcher Kantonalbank to Remove 1,750 Tons of CO₂
- Climeworks and Zürcher Kantonalbank sign a multi-year agreement to remove 1,750 tons of CO₂.
- The deal supports Zürcher Kantonalbank’s net-zero strategy focused on emissions reduction.
- The partnership builds on a long-standing collaboration between the two organizations.
Climeworks Deepens Collaboration with Zürcher Kantonalbank
Climeworks, a global leader in direct air capture technology, has signed a multi-year contract with Zürcher Kantonalbank (ZKB) to remove 1,750 tons of CO₂. This initiative aligns with ZKB’s commitment to net-zero emissions by addressing emissions that cannot be reduced through its own operations.
Commitment to Sustainability:
“At Zürcher Kantonalbank, sustainability is deeply rooted in our operations, making the commitment to net zero central. Our multi-year agreement with Climeworks is a key part of our net-zero strategy, which continues to prioritize emission reductions,” said Urs Baumann, CEO of Zürcher Kantonalbank.
Long-Standing Partnership:
Climeworks and ZKB have been partners since 2014, with ZKB also being an investor in Climeworks. Andreas Aepli, Chief Financial Officer of Climeworks, emphasized the importance of this relationship: “Zürcher Kantonalbank has recognized the importance of direct air capture for our global climate goals early on. To deploy our technology at a gigaton-scale by 2050, as demanded by climate science, we want to establish long-term collaborations with forward-thinking partners.“
Innovative Technology:
Climeworks’ “Orca” plant in Iceland, the world’s first direct air capture facility, is independently certified and documented in the public Puro registry. Since May 2024, Climeworks has operated its second plant, “Mammoth,” in Iceland. The company plans to launch its third-generation technology in the U.S. by 2026, promising even greater efficiency in carbon removal.
Related Article: Climeworks Unveils Generation 3 Technology, Targets Megaton Carbon Capture Expansion
Future Potential:
“Given the global efforts to combat climate change, I believe the market for removing CO₂ from the atmosphere holds significant future potential,” noted Urs Baumann.
This collaboration highlights the strategic efforts of both organizations in driving forward innovative solutions to achieve a sustainable, net-zero future.
