Neustark, a Berne, Switzerland-based carbon removal provider, raised $69M in funding.
The round was led by Decarbonization Partners, with participation from Blume Equity, Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures. UBS added debt financing.
The company intends to use the funds to expand operations and its business reach.
Founded in 2019, Neustark has developed and deployed an IP-protected solution that allows the durable removal of carbon dioxide from the atmosphere by capturing CO2 at point source, then binding it in mineral waste streams via an accelerated mineralization process. It is currently scaling up its operations and carbon removal impact globally – on the road to removing one million tons of CO2 in 2030, and beyond that.
Together with construction recycling partners, neustark currently has 19 carbon capture and storage plants in operation across Switzerland, Austria, Liechtenstein, and Germany. Forty future plants are currently under construction across Europe, with a pipeline of projects beyond that. The company has sold nearly 120,000 tons of carbon removal to date.
neustark has a team of around 60 people (as per Q2 2024).
FinSMEs
24/06/2024