Neustark, a carbon removal company based in Switzerland, has raised €64.2 million ($69 million) in a significant growth equity round. This investment, one of the largest in the carbon removal sector, was led by Decarbonization Partners—a joint initiative between BlackRock and Temasek—and supported by climate tech investor Blume Equity.
New investors, alongside existing backers such as Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures, have demonstrated strong confidence in Neustark’s innovative approach. UBS has also contributed through debt financing. A strategic collaboration with Holcim aims to scale Neustark’s carbon removal technology globally, promoting sustainable and low-carbon building solutions.
Meghan Sharp, Global Head & Chief Investment Officer of Decarbonization Partners, emphasized the partnership’s importance: “Neustark’s solution not only integrates carbon removal to tackle hard-to-abate emissions but also contributes to decarbonizing the construction industry. Their unique model seamlessly merges two mature industries without disrupting operations.”
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Pioneering Permanent CO2 Storage
Founded in 2019 by Valentin Gutknecht and Johannes Tiefenthaler, Neustark specializes in permanent CO2 removal through an IP-protected process. The technology captures CO2 at the source, liquefies it, and transports it to construction waste recycling sites. There, CO2 is injected into concrete granulates from demolished buildings or other mineral waste, where it undergoes accelerated mineralization, permanently binding CO2 into the material. The carbonated aggregates are then used in road building and new recycled materials, effectively storing CO2 for centuries.
Operational Expansion and Future Goals
Neustark operates 19 carbon capture and storage plants across Switzerland, Austria, Liechtenstein, and Germany, with 40 more under construction across Europe. To date, the company has sold nearly 120,000 tons of carbon removal credits to clients including Microsoft, UBS, and NextGen.
The recent funding will enable Neustark to leverage Decarbonization Partners’ global reach and Blume Equity’s expertise to expand its team and capabilities. The goal is to meet the growing demand for carbon removal solutions in Europe, North America, and Asia-Pacific, aiming to permanently remove 1 million tons of CO2 by 2030 and significantly increase annual carbon removal impact thereafter.
Commitment to Climate Goals
Johannes Tiefenthaler, co-CEO and founder, highlighted the company’s mission: “We turn demolition concrete into a carbon sink. This investment allows us to scale our impact across Europe and enter new markets in North America and Asia-Pacific. The carbon removal market is growing, but we need to accelerate CO2 removal to meet net zero goals by 2050.”
The substantial funding and strategic partnerships position Neustark to lead in the carbon removal industry, driving innovation and sustainable solutions on a global scale.
