Swiss climate tech company Neustark has secured $69 million in a funding round to scale up its carbon dioxide removal (CDR) operations. Led by Decarbonization Partners, a joint venture between BlackRock and Temasek, the funding round also saw participation from Blume Equity and existing investors such as Holcim, Siemens Financial Services, Verve Ventures, ACE Ventures, and UBS.

The funding will facilitate Neustark’s expansion across Europe, North America, and Asia-Pacific, aiming to remove 1 million tons of CO2 by 2030. Neustark’s innovative IP-protected solution captures biogenic CO2 from biogas plants, liquefies it, and injects it into construction waste materials like concrete granulates, creating carbonated recycled aggregates that can be used in construction. This process permanently binds CO2, with a storage duration of hundreds of thousands of years.

Neustark currently operates 19 carbon capture and storage plants in Switzerland, Austria, Liechtenstein, and Germany, and is constructing 40 more across Europe. The company has removed nearly 120,000 tons of CO2 to date, with clients including Microsoft, UBS, and NextGen.

Meghan Sharp of Decarbonization Partners emphasized the importance of the partnership in scaling CDR solutions globally. Johannes Tiefenthaler, co-CEO and founder of Neustark, highlighted the potential of using demolition concrete as a carbon sink through their technology.

This significant investment aims to bolster Neustark’s mission of enhanced global carbon removal, contributing to the overarching goal of net zero emissions by 2050.