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Funding
Nuestark secures USD 69 million in venture funding
Carbon Capture, Utilization & Storage (CCUS)
Jun 25, 2024
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Carbon Capture, Utilization & Storage (CCUS)

Carbon Capture, Utilization & Storage (CCUS)

Jun 25, 2024

Nuestark secures USD 69 million in venture funding

Funding

  • Neustark, a Swiss DAC company, has secured USD 69 million in a growth equity round led by Decarbonization Partners, a collaboration between Blackrock and Temasek.

  • The funding will support Neustark's mission to permanently remove 1 million tons of CO2 by 2030 and help scale its carbon dioxide removal (CDR) solution globally. Neustark plans to expand its operations across Europe, enter new North America and Asia-Pacific markets, and develop new solutions to sequester more CO2 in mineral waste streams.

  • New investor Blume Equity, also joined existing investors Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures, with UBS providing debt financing.

  • Analyst QuickTake: In February 2024 , the company entered into a multi-year agreement with Microsoft to capture CO2 from the atmosphere and store carbon in recycled building materials. Under this agreement, Neustark agreed to deliver 27,600 tons of carbon removal credits to Microsoft over six years.

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