The Ledger
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Apley: Orca runs at 2,500 to 3,000 tons after 2.5 years
“We can reach now a performance of around two and a half thousand to 3000 tons of run rate. And that took us About two and a half years to get there.”
Climeworks has signed direct air capture offtake contracts up to 15 years
“We've worked really hard over the last, I would say, four years to move the market to something that will actually work for project finance. In terms of offtake. So that means long duration contracts, right, over five years plus ideally 10 years or 15 years, l…”
Climeworks plans a 250,000-ton DAC plant for its first US facility
“And the next one that we'll build is about 250,000 tons. So another sort of seven to eight X scale up that will be our first plant in the US.”
Climeworks: Orca and Mammoth DAC plants are completely sold out
“So Orca and Mammoth are luckily they're already completely sold out. For the life that we expect the plant to operate.”
Apley: Climeworks secured subsidized project debt for Orca DAC facility
“We actually already executed a project debt facility in one of our projects that was for Orca. And that was definitely very hard to get over the line. Also had to be subsidized because Orca isn't profitable at the size where it is.”
Apley: Proprietary technology is under 50% of Climeworks' project CapEx
“Our own tech is less than 50% of the CapEx that we need to deploy.”
Climeworks pitched 10x scale and cost curve improvements to equity investors
“The key milestone was scaling that technology by a factor of about 10 improving on the cost curve deploying more on the offtake side, so really building the market for these project-financeable offtakes and also making an improvement on the technology.”