Electrical firm Schneider Electric inks lengthy deal with Climeworks for carbon capturing services
Schneider Electric, a global leader in the energy management and automation industry, has announced a new collaboration with Climeworks, a pioneer in the carbon removal industry. The partnership aims to develop technology solutions for enhancing energy efficiency and cost-reduction of Direct Air Capture (DAC), a process that captures carbon dioxide from the atmosphere.
The collaboration encompasses three high-durability solutions: Direct Air Capture and Storage, Bioenergy with Carbon Capture and Storage, and Enhanced Rock Weathering. This marks Schneider Electric's first purchase of high-durability carbon removal, furthering their commitment to becoming net zero across their entire value chain by 2050.
Climeworks, founded in 2009, provides carbon removal solutions for companies, including its own DAC technology. The company operates the world's first two DAC plants. In 2024, Climeworks launched Climeworks Solutions, a service providing tailored, high-quality carbon removal portfolios.
Esther Finidori, Chief Sustainability Officer at Schneider Electric, expressed that early engagement in the emerging carbon removal industry catalyses the scale-up of various technologies. Christoph Gebald, co-CEO and co-founder of Climeworks, stated that early access to solutions that can store CO2 permanently is essential for forward-looking companies.
The carbon credits from the agreement will neutralize a portion of Schneider Electric's estimated residual emissions once it achieves its net-zero goal. However, the new collaboration does not mention any neutralization of residual emissions or contributions to Schneider Electric's net-zero goal, as those elements were addressed in the offtake agreement.
The new collaboration does not specify any new CO2 removal targets or timelines. However, it is implied that the collaboration aims to support the cost-reduction trajectory of Direct Air Capture, which was a key factor in the offtake agreement. Gebald also mentioned that the collaboration between Schneider Electric and Climeworks will further accelerate the cost-reduction trajectory of Direct Air Capture.
The agreement is an important step in diversifying Schneider Electric's carbon removal portfolio, according to Finidori. The collaboration also aims to show that carbon removal is a crucial aspect of future climate action and economic strategies. It further demonstrates that climate action and economic foresight go hand in hand, and carbon removal is where they meet.
Several companies have partnered with the goal of supporting the cost reduction of direct air capture through the development of energy-efficient technologies and cost reduction curves, aiming to remove a total of 31,000 tons of CO2 by the year 2039. With this new collaboration, Schneider Electric and Climeworks are taking a significant step towards achieving this goal.
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