- Growth equity funding round led by Decarbonization Partners,
with participation from Blume Equity, to propel neustark's
expansion across Europe, North America, and Asia-Pacific, and
support its mission to remove 1 million tons of CO2 in 2030.
- Existing backers Siemens Financial Services, Verve Ventures,
ACE Ventures, and Holcim continue their support, and UBS adds debt
financing.
- The Swiss climate tech company secures one of the largest
growth equity investment rounds in carbon removal.1
Neustark, a Switzerland-based carbon removal provider, has
raised $69 million in a funding round to underpin its rapid
scale-up in the carbon dioxide removal (CDR) market. The growth
equity round was led by Decarbonization Partners, a partnership
between BlackRock and Temasek, and will reinforce neustark’s
continued growth path and support their mission to permanently
remove 1 million tons of CO2 in the year 2030.2
Climate tech growth investor Blume Equity also participated in
the round. The new investors join neustark’s existing backers,
which are all continuing their support: Holcim, Siemens Financial
Services, Verve Ventures, and ACE Ventures. In addition, UBS has
contributed capital to the round via debt financing. 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 CO2 at point source, then
binding it in mineral waste streams via an accelerated
mineralization process.
Biogenic CO2 is captured from partnering biogas plants, then
liquified and transported to construction waste recycling sites.
There, the carbon dioxide is injected into concrete granulates from
demolished buildings or other mineral waste such as slag and
slurry. Neustark’s technology triggers an accelerated
mineralization process, binding the CO2 permanently to the pores
and surface of the granules. The carbonated, recycled aggregate can
then be used to build roads or to produce fresh recycled building
materials. The mineralization process stores the captured CO2 for
hundreds of thousands of years, and the risk of reversal is proven
to be slim to none.
“We turn the world’s largest waste stream – demolition concrete
– into a carbon sink. In the last 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,” 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. Despite this, we need to
exponentially accelerate the removal of CO2 if we want to reach net
zero goals by 2050. This target will only be possible by globally
deploying highly scalable, measurable and commercially viable
carbon removal solutions at the scale of millions of tons per
year.”
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 robust pipeline of projects beyond that.
Neustark has sold nearly 120,000 tons of carbon removal to date,
making it one of Europe’s fastest-growing carbon removal companies,
with clients including Microsoft, UBS and NextGen. All projects are
certified under the Gold Standard to ensure credible third-party
assessment and transparency related to performance.
Neustark will be able to capitalize on Decarbonization Partners’
global platform and reach, including its access to corporates and
investors across North America and Asia Pacific and its dedicated
decarbonization specialists as well as Blume Equity's deep climate
network and expertise in scaling European disruptive climate tech
companies. With their partnership, alongside neustark’s existing
investors – all of whom possess extensive technology investment
portfolios –, neustark will expand its team and enhance its
offerings to meet the increasing global demand for CDR.
Meghan Sharp, Global Head & Chief Investment Officer of
Decarbonization Partners, said: “With carbon capture, utilization
and storage being one of our key investment focuses, we believe
that we have found a perfect partner to help scale the industry –
and ultimately its decarbonization impact – in the years to come.
Neustark not only helps organizations integrate carbon removal to
address their hard-to-abate emissions, but their solution also
contributes to decarbonizing the construction industry.”
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.”
***
About neustark
Limiting global warming to 1.5°C implies reaching net zero CO2
emissions in 2050 according to the IPC. Next to substantially
reducing emissions, this target will only be possible by globally
deploying carbon removal (CDR) solutions at the scale of billions
of tons of CO2. Neustark is a leading provider in this rapidly
growing field, having developed a solution to permanently store CO2
from the air in recycled mineral waste such as demolished
concrete.
Our first solutions have been deployed in Switzerland and Europe
and are already capturing and storing tons of CO2 every week. We
are currently scaling up our operations and carbon removal impact
globally – on the road to removing one million tons of CO2 in 2030,
and beyond that.
Founded in 2019, neustark AG is based in Berne, Switzerland, and
is a team of around 60 people (as per Q2 2024). Together, we enable
permanent CO2 storage for a bright future of all generations on our
planet.
www.neustark.com | neustark | LinkedIn
About Decarbonization Partners
Decarbonization Partners is a joint venture between Temasek and
BlackRock focused on late-stage venture capital and early growth
private equity investing in next-generation companies that provide
solutions and technologies to help accelerate global efforts to
achieve a net zero global economy by 2050. Decarbonization Partners
combines Temasek and BlackRock's complementary platforms and
expertise in sourcing and underwriting private investments,
portfolio and risk management, and sustainable technology and
analytics. Decarbonization Partners invests in a wide range of
companies that have proven technology and need capital to scale.
The partnership targets multiple sectors, including Carbon Capture,
Storage and Utilization, Bio and Low Carbon Products, Next
Generation Energy, Advanced Mobility, Carbon Management Services
and Digital Transformation. The partnership reflects BlackRock and
Temasek's 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.
About Blume Equity
Blume Equity is a specialist climate tech growth investor. Blume
Equity invests thematically in disruptive European climate tech
scale-ups with the mission to help entrepreneurs accelerate growth
and impact in the pursuit of Net Zero. The Blume Equity team works
in close partnership with management teams on the growth journey,
drawing upon the team’s deep scale-up and sustainability
expertise.
https://blumeequity.com
Images
Contact the media team for images.
________________________ 1 CDR.fyi, List of Investors by
Technology and Stage, CDR.fyi - 2023 CDR Investment Landscape: List
of Investors 2 Removing 1 million tons of CO2 is neustark’s target
for the year 2030. The company’s targets see increasing annual
carbon removal impact every year post 2030.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240624860737/en/
Media: Neustark – Sophie Dres, media@neustark.com, +41 76
805 2111 Decarbonization Partners – Curtis Chou,
curtis.chou@blackrock.com, +44 7990 338103
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