Swiss carbon removal company Neustark has announced raising $69 million to expand operations in Europe, North America, and Asia-Pacific, aiming to remove one million tonnes of CO2 annually by 2030. The funding round was led by Decarbonization Partners, a collaboration between BlackRock and Temasek, with participation from investors like Blume Equity and UBS via debt financing. Existing supporters include Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures.

Neustark has partnered with Holcim to scale its carbon removal technology globally, using an IP-protected solution that captures CO2 from biogas plants, binds it in mineral waste, and creates carbonated recycled aggregates. This technology is said to lock CO2 in concrete granules permanently, reducing emissions and providing sustainable construction materials. Currently, it operates 19 plants in Switzerland, Austria, Liechtenstein, and Germany, with plans to build 40 more across Europe.

Neustark has sold approximately 120,000 tonnes of carbon removal credits to clients including Microsoft and UBS, certified under the Gold Standard for third-party assessment. The fresh funding is expected to bolster its global reach and technological development.

Key Figures:

  • Funding Round Total: $69 million
  • Leading Investors: Decarbonization Partners (BlackRock and Temasek)
  • Other Investors: Blume Equity, UBS
  • Current Operations: 19 plants in Switzerland, Austria, Liechtenstein, Germany
  • Expansion Plans: 40 new plants in Europe, entry into North America and Asia-Pacific
  • Target by 2030: Remove one million tonnes of CO2 annually

Key Technology:

  • Process: Capture CO2 from biogas, liquify, transport to construction waste sites, bind CO2 in concrete granules.
  • Outcome: Permanent CO2 storage, sustainable building materials.

Notable Clients:

  • Microsoft
  • UBS
  • NextGen

Certification:

  • Gold Standard for third-party performance assessment and transparency

Neustark’s investment aims to leverage Decarbonization Partners' global platform and expertise, facilitating a broader impact in the carbon removal and construction industry’s decarbonization.