Neustark Secures $69 Million in Funding to Expand Carbon Removal Solution Globally
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Growth equity funding round led by
Decarbonization Partners , with participation from Blume Equity, to propel neustark's expansion acrossEurope ,North America , andAsia-Pacific , and support its mission to remove 1 million tons of CO2 in 2030. -
Existing backers
Siemens Financial Services ,Verve Ventures ,ACE Ventures , and Holcim continue their support, andUBS adds debt financing. - The Swiss climate tech company secures one of the largest growth equity investment rounds in carbon removal.1
Climate tech growth investor Blume Equity also participated in the round. The new investors join neustark’s existing backers, which are all continuing their support: Holcim,
The Swiss CDR specialist has developed and deployed an IP-protected solution that allows the durable removal of carbon dioxide from the atmosphere by capturing CO2 at point source, then binding it in mineral waste streams via an accelerated mineralization process.
Biogenic CO2 is captured from partnering biogas plants, then liquified and transported to construction waste recycling sites. There, the carbon dioxide is injected into concrete granulates from demolished buildings or other mineral waste such as slag and slurry. Neustark’s technology triggers an accelerated mineralization process, binding the CO2 permanently to the pores and surface of the granules. The carbonated, recycled aggregate can then be used to build roads or to produce fresh recycled building materials. The mineralization process stores the captured CO2 for hundreds of thousands of years, and the risk of reversal is proven to be slim to none.
“We turn the world’s largest waste stream – demolition concrete – into a carbon sink. In the last year, we have already deployed our unique solution at 19 sites. This growth investment will take us into the next exciting phase of our mission, helping us to further scale our impact across
He added: “The CDR market is experiencing substantial growth, driven by high-quality and durable carbon removal solutions, and a surging demand for trusted carbon credits. Despite this, we need to exponentially accelerate the removal of CO2 if we want to reach net zero goals by 2050. This target will only be possible by globally deploying highly scalable, measurable and commercially viable carbon removal solutions at the scale of millions of tons per year.”
Together with construction recycling partners, neustark currently has 19 carbon capture and storage plants in operation across
Neustark has sold nearly 120,000 tons of carbon removal to date, making it one of Europe’s fastest-growing carbon removal companies, with clients including Microsoft,
Neustark will be able to capitalize on Decarbonization Partners’ global platform and reach, including its access to corporates and investors across
She added: “With their unique business model that seamlessly integrates two existing and mature industries without disrupting their day-to-day operations, neustark has established themselves as one of the global leaders in high-quality durable CDR with a solution that is removing carbon dioxide from the atmosphere today.”
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About neustark
Limiting global warming to 1.5°C implies reaching net zero CO2 emissions in 2050 according to the IPC. Next to substantially reducing emissions, this target will only be possible by globally deploying carbon removal (CDR) solutions at the scale of billions of tons of CO2. Neustark is a leading provider in this rapidly growing field, having developed a solution to permanently store CO2 from the air in recycled mineral waste such as demolished concrete.
Our first solutions have been deployed in
Founded in 2019, neustark AG is based in
www.neustark.com | neustark | LinkedIn
About
About Blume Equity
Blume Equity is a specialist climate tech growth investor. Blume Equity invests thematically in disruptive European climate tech scale-ups with the mission to help entrepreneurs accelerate growth and impact in the pursuit of Net Zero. The Blume Equity team works in close partnership with management teams on the growth journey, drawing upon the team’s deep scale-up and sustainability expertise.
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1 CDR.fyi, List of Investors by Technology and Stage, CDR.fyi - 2023 CDR Investment Landscape: List of Investors
2 Removing 1 million tons of CO2 is neustark’s target for the year 2030. The company’s targets see increasing annual carbon removal impact every year post 2030.
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Source: BlackRock