A small Swiss company won $31 million in new investment on Tuesday to suck carbon dioxide from thin air as part of a fledgling, costly technology that may gain wider acceptance from governments in 2018 as a way to slow climate change.
Climeworks AG, which uses high-tech filters and fans to extract carbon dioxide from the atmosphere at a cost of about $600 a ton, raised the money from investors, including Zurich Cantonal Bank.
"It's all about cost reductions," Jan Wurzbacher, a co-founder and co-CEO of Climeworks, told Reuters of how the company would use the funds.