Climeworks

Climeworks laid off 106 employees (22% of workforce) in May 2025, with 78 positions cut in Switzerland. Co-founders Christoph Gebald and Jan Wurzbacher cited macroeconomic uncertainty and shifting climate policy priorities. The cuts came as President Trump's administration pulled back support for carbon-cutting projects, leaving the company's $600M Louisiana plant in limbo.

Climeworks operates Mammoth, the world's largest direct air capture plant in Iceland, designed to remove 36,000 tonnes of CO2 annually. However, the plant captured only 105 tonnes total in 2024 and 119 tonnes in the first half of 2025—well below capacity. Critics note Climeworks' 2023 emissions (1,700 tonnes CO2) exceeded its total capture since 2021 (1,058 tonnes). Stanford researcher Mark Jacobson called DAC "a greenwashing technology."

Climeworks has been transparent about its technology's current limitations and challenges, including efficiency problems caused by snow, rain, and ice clogging mechanisms. Co-founder Jan Wurzbacher publicly acknowledged these issues. The company discloses its capture rates and energy consumption data, allowing independent verification. Unlike some climate tech firms, Climeworks hasn't made misleading claims about its near-term impact.