Key Partners
- Carbfix (Iceland) — stores the captured CO₂ underground at Orca and Mammoth (FACT).
- Hellisheidi Geothermal Power Plant — supplies heat and electricity for the direct air capture process (FACT).
- Third-party removal suppliers — biochar, BECCS, enhanced rock weathering and afforestation tons sit in the portfolios, verified to standards such as Puro or Isometric (FACT).
- Investors — USD 162M round in July 2025 led by BigPoint Holding and Partners Group; total funding over USD 1B (FACT).
- Anchor buyers — Microsoft, JPMorganChase and Swiss Re signed long-term deals (FACT).
Key Activities
- Operate Orca (up to 4,000 t per year design) and Mammoth (up to 36,000 t per year design) (FACT).
- Upgrade sorbent and plant design — upgraded containers reach the 1.37 t/day design run rate (FACT).
- Mammoth net removal — 675 t in H1 2026 vs 119 t in H1 2025 (FACT).
- Next generation — tenfold sorbent lifetime in the lab, fourfold process densification; plant testing from early 2027 (FACT, company claims).
- Build and manage third-party portfolios through Climeworks Solutions (FACT).
Key Resources
- Proprietary sorbent and collector-container design, refined at Mammoth (FACT).
- Orca — launched Sept 2021, eight containers of 500 t/year each (FACT).
- Mammoth — design capacity up to 36,000 t/year; still ramping (FACT).
- Over USD 1B raised since founding; USD 162M in July 2025 (FACT).
- More than 200 corporate customers through Climeworks Solutions (FACT).
Value Propositions
- Permanent removal — CO₂ is captured from air and mineralized underground (FACT).
- Mixed portfolios — nature-based and technology-based tons from one seller (FACT).
- Proof — order confirmation, invoice, dashboard and a delivery note with supplier details (FACT).
- Reliability claim — 100% delivery rate across portfolios in 2025 (FACT, company statement).
- Delivery window — removals delivered within 7 years after the year of purchase on self-service portfolios (FACT).
Customer Relationships
- Anchor accounts — Microsoft 10,000 t over 10 years; JPMorganChase 25,000 t over 9 years; Swiss Re USD 10M over 10 years (FACT).
- Tailored portfolios — designed with scientific advice for companies (FACT).
- Self-service — standard portfolios with an online dashboard and invoice (FACT).
- Community — Climeworks Pioneers stories from individual supporters (FACT).
- Repeat business — Solutions says 200+ companies are customers (FACT).
Channels
- Website self-service — three portfolios in EUR, USD, CHF or GBP (FACT).
- Direct sales — tailored portfolios for large companies (FACT).
- Partnership announcements — 14 new deals, ~450,000 t, H1 2026 (FACT).
- Named firsts — Tapestry (North American retail), NTT DATA (AI infrastructure), TD Bank (Canadian finance) (FACT).
- Industry events — announcements timed to London Climate Action Week 2026 (FACT).
Customer Segments
- Large corporates — SAP, Schneider Electric, NTT DATA, Tapestry, TD Bank (FACT).
- Financial and insurance firms — Swiss Re, JPMorganChase, TD Bank (FACT).
- Technology buyers — Microsoft is a repeat buyer (FACT).
- Individuals — the Pioneers community buys by the ton (FACT).
- Concentration risk — Bloomberg says the market is dominated by Microsoft (SECONDARY).
Cost Structure
- Operating cost per ton at Mammoth down more than 50% in a year; no absolute figure published (FACT).
- Sorbent replacement — longer-lasting filters are a key cost lever (FACT).
- People — 106 jobs cut in May 2025, about 22% of 483 staff (SECONDARY, Bloomberg).
- Ramp-up drag — Orca never above 1,000 t per year vs 4,000 t design (SECONDARY).
- No published total costs or net loss; none estimated here (INFERENCE: private company).
Revenue Streams
- Standard portfolios — USD 100 / 250 / 500 per ton for 90/10, 70/30 and 100% technology mixes (FACT).
- Offtake agreements — Microsoft 10,000 t (10 yrs); JPMorganChase 25,000 t (9 yrs); Swiss Re USD 10M (10 yrs) (FACT).
- Individual DAC purchases — about USD 1,000 per ton reported in May 2025 (SECONDARY).
- H1 2026 — 14 new portfolio deals, ~450,000 t across removal types (FACT).
- Revenue — no full-year figure published; not estimated (FACT: absence in sources reviewed).