Climeworks, a carbon capture technology startup, has partnered with Boston Consulting Group to assist build its business, which focuses on absorbing carbon dioxide directly from the air.
Boston Advisory Group (BCG) will provide consulting services to help the firm scale up its activities and reach new consumers under the terms of the agreement.
It will also use the group’s services to help offset its own emissions by 2030.
“Not only will we leverage Climeworks` services to achieve our own net-zero target by 2030, but we will also have a far greater impact by acting as Climeworks` advisory partner to accelerate the broader adoption and scaling of their services globally,” Joachim Stephan, BCG`s head of Switzerland, said in a statement.
Start-up in Switzerland Climeworks AG opened the world’s largest operation sucking carbon dioxide from the air and depositing it underground in September.
It collaborated with Carbfix, an Icelandic carbon storage company, to construct the facility, which can absorb 4,000 tonnes of CO2 per year.
Direct air capture is still a new and expensive technology, but as more businesses and households want to minimise their carbon footprint, inventors expect to lower prices by scaling it.
More knock-on effects on the ecology and broader ecosystem, according to environmental groups, must be studied.
According to recent study, direct air capture technology has the potential to capture and permanently eliminate 1.5 billion tonnes of CO2 per year by 2050, and BCG said it hoped to help expand the market through such partnerships.