Prepared 2026-10-11 (America/Chicago). Labels: FACT = stated by Climeworks or a named counterparty in its own release/page. SECONDARY = press reporting (Bloomberg via swissinfo). INFERENCE = conclusions drawn by this project.
Capture CO₂ from air in Iceland, store it as rock, and sell the removal by the ton, both from its own expensive plants and inside mixed portfolios with cheaper third-party tons — while the plants run well below design and the company cuts staff, with no published revenue.
Climeworks is private. No revenue, profit or loss figure for any fiscal year was found in primary sources, so none is shown or estimated; the company is listed as unranked in the atlas.
# Climeworks AG — research brief (BMC #073 on gallery, queue id 72)
Prepared 2026-10-11 (America/Chicago). Labels: **FACT** = stated by Climeworks or a named counterparty in its own release/page. **SECONDARY** = press reporting (Bloomberg via swissinfo). **INFERENCE** = conclusions drawn by this project.
## Sources (accessed 2026-10-11)
- Climeworks, Mammoth performance update (2026): https://climeworks.com/blog/mammoth-direct-air-capture-performance-update
- Climeworks, USD 162M round (July 2025): https://climeworks.com/press-release/climeworks-raises-usd-162m-to-scale-up-technology
- Climeworks, 14 new partnerships (Jun 19, 2026): https://climeworks.com/press-release/climeworks-solutions-announces-strong-growth-with-14-new-partnerships
- Climeworks, standardized portfolios and terms: https://climeworks.com/subscriptions
- Climeworks, Orca and Mammoth plant pages: https://climeworks.com/plant-orca , https://climeworks.com/plant-mammoth
- Climeworks & Microsoft 10-year agreement: https://climeworks.com/press-release/climeworks-extends-collaboration-with-microsoft
- JPMorganChase release (2023): https://www.jpmorganchase.com/newsroom/press-releases/2023/jpmorgan-chase-seeks-to-scale-investment-in-emerging-carbon-removal-technologies
- Swiss Re release (Aug 2021): https://www.swissre.com/media/press-release/nr-20210825-swiss-re-climeworks-partnership.html
- Bloomberg via swissinfo (May 21, 2025): https://www.swissinfo.ch/eng/climeworks-is-cutting-22%25-of-staff-as-us-climate-backlash-hits-carbon-removal/89379470
- CDR.fyi DAC market snapshot 2025: https://www.cdr.fyi/blog/direct-air-capture-market-snapshot-2025
- Climeworks CEO update (2025): https://climeworks.com/news/ceo-update
- Logo: project monogram ("C" on a green tile), **not** Climeworks's official mark. Trademark of Climeworks; identification only.
## Teaching arc
**Capture CO₂ from air in Iceland, store it as rock, and sell the removal by the ton, both from its own expensive plants and inside mixed portfolios with cheaper third-party tons — while the plants run well below design and the company cuts staff, with no published revenue.**
## Revenue standard note
Climeworks is private. No revenue, profit or loss figure for any fiscal year was found in primary sources, so **none is shown or estimated**; the company is listed as unranked in the atlas.
## Key facts
- Orca launched Sept 8, 2021: eight collectors, 4,000 t/yr design (FACT). Bloomberg: never above 1,000 t in any year; best month 65% of nameplate (SECONDARY).
- Mammoth: design up to 36,000 t/yr, operational ramp-up since May 2024 (FACT). Net CDR: 675 t in H1 2026 vs 119 t in H1 2025; operating cost per ton down >50% in a year; upgraded containers reach 1.37 t/day design run rate, capacity factor ~40-50% (FACT, 2026 blog). All 12 containers in one module upgraded by end-2026; next-gen tech test early 2027 (FACT).
- Funding: USD 162M (July 2025; BigPoint Holding, Partners Group), total >USD 1B (FACT). USD 650M placement in 2022 with J.P. Morgan as sole placement agent (FACT, JPM release).
- Layoffs: 106 jobs, May 2025; Bloomberg gives 483 staff before, 22% (SECONDARY). Louisiana plant delayed; USD 50M DOE grant (SECONDARY).
- Portfolios: USD 100/250/500 per ton (90/10, 70/30, 100% tech); delivery within 7 years (FACT). Bloomberg May 2025: USD 1,000/ton for individuals (SECONDARY).
- Offtakes: Microsoft 10,000 t/10 yrs; JPMorganChase 25,000 t/9 yrs; Swiss Re USD 10M/10 yrs (FACT).
- Climeworks Solutions (launched 2024): 200+ companies; 14 new deals ~450,000 t in H1 2026; 100% delivery rate across portfolios in 2025 (FACT, company statements). Portfolio includes >6M t secured supply (company, July 2025).
- Market context: CDR.fyi mid-2025: 1,186 t DAC delivered globally, 81% by Climeworks; 421 Climeworks orders (SECONDARY).
## INFERENCES
- With no costs published, margin cannot be computed; the model's profitability is unknown.
- Mixed portfolios likely add resale margin on third-party tons (not disclosed).