Austin American-Statesman

Swiss climate-tech firm chooses Austin for US HQ

Climeworks captures, stores carbon dioxide

- Lori Hawkins

A fast-growing Swiss climate-tech firm has chosen Austin for its new U.S. headquarte­rs.

Climeworks, based in Zurich, was founded in 2009 and specialize­s in direct air capture carbon removal. Its plants and turbines use minerals and chemicals to suck carbon dioxide out of the air and put it in the ground for storage.

Company officials said Austin is an ideal location for its U.S. headquarte­rs because of its strong talent pool, business-friendly environmen­t and central location. The city’s quality of life also makes it an attractive place to draw talent from outside Texas, they said.

Another draw, officials said, is that Austin is a leader in climate change, with a goal of achieving net zero emissions by 2040.

The announceme­nt of Austin as Climeworks’ new U.S. headquarte­rs comes after the U.S. Energy Department selected all three of Climeworks’ direct air capture hub projects to be eligible for a total of more than $600 million in government funding under its initial Funding Opportunit­y Announceme­nt.

Last year, Climeworks announced plans to scale up in the United States. Its new Austin headquarte­rs joins the company’s offices in New York, Washington, D.C., and California. It has 450 employees worldwide, including 31 employees in the U.S.

The company plans to triple its U.S. headcount by year’s end, with a majority of hiring at the Austin headquarte­rs, which will be led by Douglas Chan, chief operating officer. The Austin offices are at 2043 S. Lamar Blvd., near the West Oltorf Street intersecti­on.

In Austin, Climeworks will build teams across engineerin­g, project management, supply chain, technology and other functions.

Commercial and corporate finance profession­als will form the majority of teams operating from satellite locations on each coast. The company also operates subsidiari­es in Germany, and Iceland. Climeworks said it is currently exploring or developing projects in Kenya, Canada, Norway and the Middle East.

Climeworks’ largest working project removes about 4,000 tons of carbon dioxide from the atmosphere each year. The $800 per ton price is about eight times more expensive than what experts think is likely to spur wide-scale adoption, illustrati­ng the challenges facing the technology, according to Reuters.

Still, the world is expected to need to capture billions of tons of greenhouse gases annually to avoid disastrous climate change, U.N. scientists have said.

Climeworks customers include Microsoft, UBS, Shopify and Accenture. In December, Climeworks said it has agreed to sell 80,000 metric tons of carbon credits to consulting firm BCG over 15 years, its biggest and longestdur­ation deal.

Still, the world is expected to need to capture billions of tons of greenhouse gas emissions annually to avoid disastrous climate change, United Nations scientists have said.

 ?? PROVIDED ?? Climeworks has a direct air carbon capture plant called Orca in Iceland. The Swiss company has chosen Austin for its U.S. headquarte­rs.
PROVIDED Climeworks has a direct air carbon capture plant called Orca in Iceland. The Swiss company has chosen Austin for its U.S. headquarte­rs.
 ?? PROVIDED ?? Daniel Nathan, Climeworks’ chief project developmen­t officer, and Douglas Chan, chief operating officer and general manager, pose at the company’s new U.S. headquarte­rs in Austin.
PROVIDED Daniel Nathan, Climeworks’ chief project developmen­t officer, and Douglas Chan, chief operating officer and general manager, pose at the company’s new U.S. headquarte­rs in Austin.

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