Climeworks-Empowering People and Companies to Fight Global Warming with DAC Technology
| Case Code: LDEN202 Case Length: 8 Pages Period: 2009-2023 Pub Date: 2023 Teaching Note: Available |
Price: Rs.300 Organization : Climeworks Industry :Environment & Waste Management Services Countries : Switzerland Themes: Environmental Sustainability, Sustainability, Entrepreneurship |
Abstract Case Intro 1 Case Intro 2 Excerpts
Introduction
In November 2022, Climeworks, a Swiss based company specializing in Direct Air Capture (DAC) technology, announced that it had partnered with Gulf Coast Sequestration (GCS) for the removal of carbon dioxide from the atmosphere and its secure storage. The Memorandum of Understanding (MOU) signed between Climeworks and GCS stated that it aimed to remove one million tons of carbon dioxide annually by the year 2030 with the capacity for further expansion and removal of multi million tons of carbon dioxide in the future. “Direct air capture (DAC) is a key technology for removing unavoidable and historic CO2 from the air. Climeworks is excited to work with GCS on the development of a U.S. hub to scale up the DAC industry in support of a more economically and environmentally sustainable future in Louisiana,” said, Jan Wurzbacher (Wurzbacher), Co-Founder and CEO, Climeworks..
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