The Ledger
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Climeworks faced premature filter failures during Mammoth's serial production
“The filter element, which is the one that experienced the most design change. We were, while we were testing the prototypes, we actually did see some failures that were earlier than we had expected. And that then comes that decision of, all right, we're also d…”
Chan: Net-negative carbon removal requires permanent storage, not reuse
“There's plenty of storage around the world, and ultimately, if we want to be negative in our CO₂ removal, we need to be storing it and not reusing it. Otherwise, it's just kind of a circular economy there.”
Chan: Cypress DAC Hub won $50M grant, eligible for $600M
“So we were awarded one of the two. I lose track of all the years now, but it was last year and we've received the first phase of that, which is the fifty million, and then further up to six hundred million once we reach the Discrete milestones in our project d…”
Climeworks kept hardware design in-house while EPC built the facility
“So what we did keep in-house was the design of the core hardware, so those collector units that you see, and then also for the process engineering nerds out there, so the core heat and material balance, the process flow diagram, and the process instrumentation…”
Chan: Climeworks has moved past FOAK to fourth-of-a-kind DAC plants
“A lot of direct air capture is currently in its first of a kind stage, but we do, and Climax has been able to show that now we're past that original folk valley, and now we're up to a fourth of a kind, which is still a folk, but a fourth, and this should reall…”
Chan: Corporate offtake demand, not project financing, limits DAC scale
“Yeah, the thing that keeps me up most is definitely that first one that you mentioned, the market and the demand because your second one, like you said, the project financing that will come if the demand is there. So, having more businesses beyond those first …”
Climeworks financed Mammoth on-balance-sheet and exceeded typical FID offtake volumes
“So, we still kept it on balance sheet, and actually by the time we did get it built and running, it being mammoth what your typical numbers you would expect for off-take contracts by FID, we'd, we'd well exceeded that.”
Climeworks deployed field reinforcements while simultaneously designing collector retrofit packages
“We decided to continue with the ones that were already there and essentially deploy a field patch or a field reinforcement to kind of strengthen the failure mode that we had seen, but then in parallel also work on an improved design as well. So that we could t…”
Climeworks scaled from eight collector containers at Orca to 72 at Mammoth
“So we're going from now eight collector containers to 72, and then within these containers there's filter elements, which went from hundreds to thousands.”
Chan: Climeworks pivoted to storage because carbon utilization could not scale
“And the reason we made that second pivot, To direct air capture and storage is that's really what we needed to be able to scale.”
Chan: Climeworks monetizes DAC through long-term CDR offtake contracts
“So the way that the various technology providers, including ourselves, make money is by selling long-term off-take contracts for the CDR, carbon dioxide removal, that we produce, kind of an ironic way to say you produce CDR, Kind of remove CO₂ and store it in …”