The Swiss startup, which sucks carbon out of the air and stores it underground in solid form, is scaling up its direct CO2 removal business.Climeworks is expanding its direct carbon capture operations in Iceland with Mammoth, a plant scaled to eliminate 36,000 tons of CO2 annually when it opens.Climeworks, a startup that directly captures carbon dioxide from the air, is partnering with Swiss Air Lines to remove tons of CO2 on behalf of the European airline in one of the first deals of its kind.
“We’ve had many clients from the financial industry or service industry, but this is the first time it will be an airline customer,” Wurzbacher said. “It's not like a steel mill, but it's an airline — from a generally heavy emitting industry — that came to the conclusion that , in particular direct capture, can be something valuable.
Airlines accounted for 12% of global CO2 emissions from the transportation industry in 2022, according to the International Energy Agency. Swiss’s goal of achieving net zero emissions by 2050 is shared by the industry. “Our strategy will be to invest heavily into further technology improvement, and in particular scale-up and cost reduction,” he said. “We need to scale first. We can't drop prices immediately, to where we anticipate them to be when we have scaled. So that is rather a challenge.”
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