Neustark Secures $69 Million in Funding to Expand Carbon Removal Solution Globally
Summary
Neustark also has a strategic collaboration with Holcim to scale up its carbon removal technology globally, enabling building solutions that are both circular and low-carbon.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 CO at point source, then binding it in mineral waste streams via an accelerated mineralization process.Biogenic CO is captured from partnering biogas plants, then liquified and transported to construction waste recycling 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 CO in mineral waste streams," said Johannes Tiefenthaler, co-CEO and founder at neustark.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. "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. Decarbonization Partners combines Temasek and BlackRocks complementary platforms and expertise in sourcing and underwriting private investments, portfolio and risk management, and sustainable technology and analytics. The partnership reflects BlackRock and Temaseks shared commitment to help build more sustainable and resilient portfolios, while also contributing to consistent, long-term financial returns that benefit their clients and stakeholders.Blume Equity is a specialist climate tech growth investor.