Climeworks (Zurich, Switzerland) is the global leader in direct air capture (DAC) — technology that chemically removes CO2 directly from ambient air. The company operates Orca (Iceland, 4,000 tonnes/year) and Mammoth (Iceland, 36,000 tonnes/year), and in December 2025 opened the world's largest DAC Innovation Center in Switzerland to develop next-generation capture technology.
The technology uses solid sorbent filters that bind CO2 from air, then release it when heated. In Iceland, the captured CO2 is injected into basalt rock where it mineralizes permanently within two years. Current costs are $250-350 per tonne — expensive but falling. The Innovation Center aims to develop modular systems that can be mass-produced and deployed globally.
Direct air capture is necessary because emission reductions alone cannot achieve net-zero: historical CO2 already in the atmosphere must be removed. Europe leads DAC development because European carbon markets (EU ETS) and corporate net-zero commitments create paying customers for carbon removal credits. Microsoft, Stripe, and other tech companies have signed large purchase agreements with Climeworks, providing the revenue certainty needed to invest in cost reduction.