NEUSTARK TO RAPIDLY EXPAND CARBON REMOVAL BUSINESS

• Neustark establishes itself as a leading provider in rapidly growing field of permanent carbon removal, making an impact today
• Expansion plans will see 20 new storage sites across Europe and the UK in 2024
• Neustark concurrently opens Series B funding in January to drive further hyper-growth and scale its technology to reach 1 million tons of CO₂ removed in 2030

After tripling its team to 60 and quadrupling its revenue to USD10 million in 2023, Neustark, a carbon capture, storage, and permanent removal solutions provider based in Switzerland, announces rapid expansion plans across Europe in 2024. The company’s mission is to address the urgent need for scalable and permanent carbon dioxide removal (CDR) solutions to tackle the hard-to-abate carbon emissions that cannot be reduced in the global drive towards deep decarbonisation.

The Intergovernmental Panel on Climate Change (IPCC) predicts that the removal of 100 billion to 1 trillion tons of carbon and other greenhouse gases will be needed to limit global warming to 1.5°C and reach net zero by 2050, with reports showing a CDR growth factor of at least 1 300 in new technologies and methods other than land management is required to close the gap on emissions and limit global warming well below 2°C.

While a mix of solutions will be necessary to achieve this goal, there are hurdles to overcome for mainstream CDR methods. Afforestation, which currently accounts for over 99% of CDR in terms of real CO₂ volume removed, is somewhat scalable and has clear biodiversity benefits, but has limited permanence and storage capacity. Other solutions such as direct air capture (DAC) and biochar are highly durable, but their scalability and verifiability will take years to prove in practice.

Neustark, by contrast, employs a unique mineralisation process, capturing CO₂ from sources like biogas plants and transporting this CO₂ to local construction material recyclers. Neustark harbours its technology at the recyclers’ site, injecting the captured biogenic CO₂ into mineral waste materials such as demolition concrete granules. This triggers a process of accelerated mineralisation, turning the CO₂ into limestone and binding it permanently to the granules’ pores and surface. Recyclers purchase and rent out neustark’s storage facilities, with the latter selling Gold Standard-accredited carbon dioxide removal credits against the injected CO₂.

This unique, end-to-end carbon removal solution benefits the whole supply chain. It eliminates waste streams for CO₂ producers, and creates a new, more sustainable revenue stream for construction waste recyclers. The carbonised recycled construction material can also be used to produce recycled concrete, a more sustainable material that requires fewer primary materials and less energy to produce than fresh concrete.

And it provides CDR credits for businesses which are pursuing the serious carbon emissions reductions needed to reach net zero. According to Science Based Target Initiatives (SBTi), which comprises over 7 000 members, companies should reduce their Scope 1-3 emissions by 90% and remove the ‘rest’: the hard-to-abate emissions. Neustark provides a means for businesses to eliminate the remaining 10% of emissions that are unavoidable even after drastic reduction measures.

Unlike other carbon removal technology, Neustark is making an impact today with 14 storage sites in operation across Europe with a total capacity of 5,000 tons, and tons of CO₂ already being permanently removed every day. New offices opened in Zurich and Cologne, Germany in 2023 and over 20 new plants are currently under construction in Germany, Austria, France, Switzerland, and the UK. Recent high-profile customer signings including Heim and Holcim, as well as a strong pipeline of future deals, demonstrates a growing market interest in the business, and the scalability of mineralisation technology.

Neustark’s mineralisation model achieves 93% efficiency, significantly higher than other CDR solutions. Through mineralisation, Neustark provides a highly scalable and adaptable solution, which can be applied to a variety of waste streams globally. It is also the most durable form of carbon removal known to date, storing carbon dioxide for tens of thousands to millions of years with negligible reversal risks. As a result of neustark’s end-to-end business model and use of mineralisation, carbon removal can be tracked, measured, and verified from source to certificate.

Johannes Tiefenthaler, CEO and Co-Founder said: “Neustark is scaling up rapidly, and we’re well on track to achieve our aim of permanently removing one million tons of CO₂ in 2030. Our global goal is a series of reliable, region-specific carbon capture and storage and facilities that can be replicated anywhere, offering immediate sustainability benefits to local supply chains, and verified CDRs from Europe for businesses across the globe.”