SwissstartupNeustark has raised $69mn to take its carbon capture technology global.
Neustark captures waste CO2 from biogas production.
It injects it into recycled concrete, which then gets reused to make new roads and buildings.
The concrete stores the carbon for at least 100,000 years, even if it gets demolished.
Neustark has two kinds of machines.
One captures CO2 at biogas plants and liquifies it.
The company transports this pressurised carbon dioxide to its second unit, located at a nearby concrete recycling facility.
This machine mineralises the CO2 into limestone, where it is used to create new concrete.
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They operate at biogas factories and concrete recycling facilities in Switzerland, Austria, Liechtenstein, and Germany.
Some 40 new plants are currently under construction in Europe, it said.
The business of carbon removal
Neustark sells carbon removal credits to businesses looking to offset their emissions.
The company has sold120,000 tons worth of these creditsto date.
Its clients include Microsoft, UBS, and NextGen.
However, Neustark has only actually captured 1,819 tons of CO2, according to its website.
Such a discrepancy is commonplace in the world of carbon credits.
Most startups today sell carbon removal credits through offtake agreements.
For Neustark, offtake agreements provide a key early revenue source, alongside private and public investment.
It allows us to scale up at speed, a Neustark spokesperson told TNW via email.
The landmark report cites carbon removal as key to limit global warming to 1.5C or below.
Neustark aims to remove 1 million tons of CO2 by 2030.
Story bySion Geschwindt
Sion is a freelance science and technology reporter, specialising in climate and energy.
