Climeworks has secured new carbon dioxide (CO2) removal partnerships with TikTok and UK rum producer Two Drifters Distillery.
Until 2030, Climeworks will remove 5,100 tonnes of CO2 from the air for TikTok through a mix of Direct Air Capture (DAC) technology, Biochar, and Reforestation.
Two Drifters Distillery, which has been working with Climeworks since 2020, will now remove an additional 1,067 tonnes of CO2 via DAC by 2032.
Adrian Siegrist, Chief Commercial Officer at Climeworks, said the way companies approach carbon removal is different from two years ago and it is seeing a new wave of buyers emerging, recognising that early investments will pay off in the long run.
“Diversified carbon removal portfolios are becoming the new norm to increase delivery security and hedge against potential price spikes,” he added. “Carbon removal may be intangible, but its financial impact will be black and white on the balance sheets of companies aiming for Net Zero.”
Climeworks recently announced it is strengthening its research into DAC with a new high-throughput adsorption testing unit from Netherlands-based Avantium R&D Solutions.
The system will help Climeworks test and develop more efficient materials for CO2 removal, supporting the company’s efforts to scale up DAC technology and reduce costs.
Read more: Climeworks expands CO2 testing to scale up direct air capture
In December, King Abdullah Petroleum Studies and Research Centre (KAPSARC) and Climeworks have joined forces to advance DAC technologies in Saudi Arabia.
Read more: KAPSARC and Climeworks partner to advance DAC in Saudi Arabia
