Neustark, a Switzerland-based company, has secured $69 million in funding to accelerate its growth in the carbon dioxide removal (CDR) market. The investment round was led by Decarbonization Partners, a partnership between BlackRock and Temasek, and will support Neustark’s goal of removing 1 million tons of CO2 by 2030.
Neustark’s technology captures CO2 from biogas plants and binds it to mineral waste streams through an accelerated mineralization process. This process stores the carbon dioxide for hundreds of thousands of years, making it a permanent solution for carbon removal.
The company has already established 19 operational plants across Switzerland, Austria, Liechtenstein, and Germany, with 40 more under construction across Europe. Neustark plans to expand its team and offerings to meet the growing global demand for CDR.
The new investors join Neustark’s existing backers, including Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures. UBS has also contributed to the round through debt financing. Neustark’s collaboration with Holcim will enable the scaling up of its technology globally, providing building solutions that are both circular and low-carbon.
Johannes Tiefenthaler, co-CEO and founder at neustark, commented “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.”
With this funding, Neustark will be able to tap into Decarbonization Partners’ global platform and reach, as well as Blume Equity’s expertise in scaling European climate tech companies.
