Amsterdam climate company gets €1 mil. gov’t investment for CO2 project in Iceland

State investor Invest International is providing the Amsterdam climate tech company Skytree with €1 million for the development of a CO2 project in Iceland. The company plans to use the loan to build its first facility abroad, which will use geothermal energy to capture CO2 directly from the air.

For ten years, Skytree has been developing technology for the so-called Direct Air Capture (DAC). This captures CO2 directly from the air. The captured CO2 will be used in sectors including greenhouse horticulture, the food industry and the production of sustainable fuels.

The company expects to use the installation in Iceland by 2028. Invest International said that the financing fits the mission of scaling up Dutch innovative technologies on an international scale.

“With this loan, we are bridging a crucial financial gap in the development phase, said Invest International’s CEO, Melanie Maas Geesteranus. The €1 million is specifically a development loan, rather than financing the construction itself. It will cover engineering, permitting, site-preparation studies and turning preliminary agreements with CO2 buyers into binding contracts.

Skytree is also developing a first commercial Skypark in the Netherlands, announced in June 2026 in partnership with Lingezegen Energy.