Neustark, a pioneering company in carbon dioxide removal technology, has successfully raised US$69 million in a growth equity round. This funding round was led by Decarbonisation Partners, a collaboration between BlackRock and Temasek, and will support Neustark’s ambitious goal to permanently remove 1 million tonnes of CO₂ by 2030.
The investment round also saw participation from climate tech growth investor Blume Equity, as well as existing backers Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures. This robust financial backing underscores the confidence investors have in Neustark’s innovative approach to carbon capture and storage.
Innovative Carbon Capture Technology
Neustark has developed a cutting-edge technology that captures biogenic CO₂ at its source and integrates it into building materials through an accelerated mineralisation process. This approach not only mitigates CO₂ emissions but also transforms demolition concrete, the world’s largest waste stream, into a valuable carbon sink.
Currently, Neustark’s technology is operational at 19 carbon capture and storage plants across Switzerland, Austria, Liechtenstein, and Germany. An additional 40 plants are under construction throughout Europe, indicating a significant expansion of their footprint and impact.
Vision for the Future
Johannes Tiefenthaler, co-CEO and founder of Neustark, expressed his enthusiasm for the future, stating, “We turn the world’s largest waste stream, demolition concrete, into a carbon sink. In the past 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 Europe, enter new markets in North America and Asia Pacific, and develop new solutions to store even more CO2 in mineral waste streams.”
The funding will be pivotal in Neustark’s efforts to scale its operations, enter new international markets, and continue innovating in the field of carbon storage. The company’s expansion plans include not only increasing the number of operational sites in Europe but also venturing into North American and Asia-Pacific markets.
Strategic Partnerships and Market Impact
The participation of major investors such as Decarbonisation Partners, Blume Equity, Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures highlights the strategic importance and potential impact of Neustark’s technology. These partnerships are expected to drive significant advancements in carbon capture and storage, contributing to global efforts to combat climate change.
Neustark’s innovative approach to using demolition concrete as a carbon sink exemplifies how waste materials can be repurposed to address environmental challenges. With this new funding, Neustark is well-positioned to lead the way in sustainable construction and carbon management technologies, setting new standards for the industry.
For more information about Neustark and its carbon removal technology, visit their official website.
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