Switzerland-based Neustark secures $69 million in funding led by Decarbonization Partners to expand its carbon removal technology, aimed at meeting the growing demand for carbon dioxide removal solutions and achieving net-zero emissions by 2050.
Neustark Secures $69M to Expand Carbon Removal Technology
Neustark, a Switzerland-based carbon removal company, has raised $69 million (approximately €64.26 million) in a growth equity round. This marks one of the largest investments in carbon removal technology to date. The funding was led by Decarbonization Partners, a venture between BlackRock and Temasek, and included participation from Blume Equity.
Existing investors, including Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures, also continued their support. Additionally, UBS contributed through debt financing.
Founded in 2019 by Valentin Gutknecht and Johannes Tiefenthaler, Neustark specializes in carbon dioxide removal (CDR). The company’s technology captures CO2 from biogas plants, liquifies it, and injects it into concrete granulates from demolished buildings. This process binds the CO2 permanently, creating carbonated recycled aggregates used in construction.
Currently, Neustark operates 19 carbon capture and storage plants across Switzerland, Austria, Liechtenstein, and Germany, with 40 more under construction in Europe. The company aims to remove 1 million tons of CO2 by 2030 and meet the growing demand for CDR solutions.
The new funds will support Neustark’s expansion into Europe, North America, and the Asia-Pacific region. Decarbonization Partners and Blume Equity’s involvement will aid in scaling Neustark’s technology globally.
Meghan Sharp, Global Head & Chief Investment Officer of Decarbonization Partners, emphasized that carbon capture and storage are crucial for achieving decarbonization goals. Johannes Tiefenthaler noted that the CDR market is growing rapidly and that Neustark’s technology is essential for reaching net-zero emissions by 2050.
