ESG Today writes that Switzerland-based Neustark offers technology that incorporates recycled materials such as concrete from demolitions as permanent storage solutions for carbon dioxide emissions that are removed from the atmosphere. Neustark officials say that the new funding will support global growth and will help the company capture one million tons of CO2 emissions by 2030.

Currently, Neustark has plans for building 40 plants in Europe and the company was able to sell 120.000 tons of captured CO2.

Johannes Tiefenthaler, Co-CEO and Founder at Neustark, said that "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."

The funding round was led by Decarbonization Partners, a partnership between BlackRock and Temasek, and saw participation from climate tech growth investor Blume Equity.

Meghan Sharp, Global Head & Chief Investment Officer of Decarbonization Partners, added that "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."