Neustark Revolutionizes Carbon Removal with $69M Funding Boost
June 26, 2024, 3:35 am
Neustark, a Swiss carbon removal provider, has secured $69 million in funding to propel its mission of permanently removing 1 million tons of CO2 by 2030. The funding round, led by Decarbonization Partners and supported by Blume Equity, Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures, will accelerate Neustark's innovative carbon capture and storage technology.
Neustark's groundbreaking solution captures biogenic CO2 from biogas plants, liquifies it, and injects it into construction waste recycling sites. Through an accelerated mineralization process, the CO2 is permanently bound to concrete granulates, creating a carbon sink that can be used in road construction and building materials. This process ensures long-term carbon storage with minimal risk of reversal.
With 19 carbon capture and storage plants already operational across Europe and 40 more in development, Neustark has quickly become one of the continent's leading carbon removal companies. Clients such as Microsoft, UBS, and NextGen have already benefited from Neustark's innovative approach to carbon removal.
The partnership with Decarbonization Partners and Blume Equity will further enhance Neustark's global reach and impact, allowing the company to meet the growing demand for scalable and effective carbon removal solutions. Meghan Sharp, Global Head and Chief Investment Officer of Decarbonization Partners, praised Neustark's ability to integrate carbon removal into existing industries, highlighting the company's role in decarbonizing the construction sector.
Neustark's success in securing this funding underscores the urgent need for innovative solutions to combat climate change. By turning waste concrete into a valuable carbon sink, Neustark is leading the way in sustainable carbon removal technology, paving the path towards a greener future for all.
Neustark's groundbreaking solution captures biogenic CO2 from biogas plants, liquifies it, and injects it into construction waste recycling sites. Through an accelerated mineralization process, the CO2 is permanently bound to concrete granulates, creating a carbon sink that can be used in road construction and building materials. This process ensures long-term carbon storage with minimal risk of reversal.
With 19 carbon capture and storage plants already operational across Europe and 40 more in development, Neustark has quickly become one of the continent's leading carbon removal companies. Clients such as Microsoft, UBS, and NextGen have already benefited from Neustark's innovative approach to carbon removal.
The partnership with Decarbonization Partners and Blume Equity will further enhance Neustark's global reach and impact, allowing the company to meet the growing demand for scalable and effective carbon removal solutions. Meghan Sharp, Global Head and Chief Investment Officer of Decarbonization Partners, praised Neustark's ability to integrate carbon removal into existing industries, highlighting the company's role in decarbonizing the construction sector.
Neustark's success in securing this funding underscores the urgent need for innovative solutions to combat climate change. By turning waste concrete into a valuable carbon sink, Neustark is leading the way in sustainable carbon removal technology, paving the path towards a greener future for all.