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Highlights
- Climeworks AG is known for capturing CO2 straight from ambient air.
- Climeworks was established in 2009 and its plant is located in Orca, Iceland.
- Microsoft has invested in Climeworks and both the companies are working to address climate change issues.
Zurich-based carbon dioxide capture technology company Climeworks AG caught attention of potential investors in the North American markets as they were looking for the company's initial public offering (IPO) plans.
As climate change remains a cause of concern for the world, companies looking to reduce carbon emission often gain popularity due to their innovative technologies.
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Climeworks AG is known for capturing carbon dioxide directly from ambient air.
Climeworks IPO on the cards?
Climeworks became popular after it received funding from tech firm Microsoft. Both the companies are working to address climate change issue by reducing new carbon emissions and removing past carbon dioxide in the atmosphere.
The funding was made by Microsoft via its Climate Innovation Fund, and it has reportedly helped Climeworks to expand its capture and storage plant.
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Interested investors are searching for the company's IPO plans to buy its stock, however, there is no official information from Climeworks about its public debut plans.
Retail investors are not able to invest in this stock as Climeworks is still a private firm. If the company goes public, they could get an option to buy a limited number of shares before the IPO.
Bottom line
Climeworks was established in 2009 and its plant is located in Orca, Iceland. It is said to be the first company with the largest carbon capturing and storage plant in the world.
Notably, the plant is expected to capture 4,000 tons of carbon dioxide annually. So far, Climeworks has reportedly raised US$ 138.7 million.
According to a Research and Markets report, global carbon capture and storage market will likely value around US$ 4.9 billion by 2026 after clocking a compound annual growth rate (CAGR) of 9.9 per cent.
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