Climeworks establishes US headquarters in Austin

15 March 2024 09:58

SPINZurich CCGreater Zurich

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Zurich/Austin - Climeworks has elected to establish its US headquarters in Austin, the capital of the US State of Texas. The pioneering carbon capture firm has drawn up plans to triple its workforce stateside by the end of the year. The background to this development is that the US Department of Energy is providing huge financial backing to three Climeworks projects.

Climeworks is accelerating its growth in the USA by establishing its new headquarters in Austin. According to a press release, the company is seeking to significantly scale up its workforce stateside by the end of 2024. In specific terms, the number of employees should be tripled, primarily at the new headquarters in Texas, but also at additional sites in New York, California and Washington, D.C. The company says it's playing a pioneering role in the worldwide adoption of Direct Air Capture (DAC) technologies. The global headquarters of Climeworks, a spin-off from the Swiss Federal Institute of Technology in Zurich, will continue to be located in Zurich.

The announcement of the new Austin-based headquarters comes against the backdrop of the US Department of Energy accepting all three DAC projects in the country that Climeworks had applied to have included in the department’s funding program back in August of last year. These are: Project Cypress in Louisiana, the Prairie Compass Hub in North Dakota and the California DAC Hub. According to the company's information, state funding for these three projects is expected to come in at more than 600 million US dollars overall.

Two major national stimulus programs adopted by the US government, the Bipartisan Infrastructure Investment and Jobs Act and the Inflation Reduction Act, which includes a focus on the promotion of clean energy, have made the USA a strategic market for Climeworks, as the company writes in its press release. In addition, Climework considers the U.S. to be home to partners that boast a high level of expertise in the safe and permanent geological storage of CO2 as well as large infrastructure projects. As such, Climeworks has a strong foundation from which it will be able to further develop its supply chain and launch on the market at scale. ce/mm

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