Neustark, a Switzerland-based CO2 capture, storage, and permanent removal solutions provider, is gearing up for rapid business growth with new expansion plans. After experiencing notable growth in 2023, the company has declared its plans to broaden its presence in Europe and the UK.
Having grown to 60 members last year, the team at neustark has also seen a fourfold increase in revenue, reaching $10 million. Looking ahead, the company is aiming to expand further by opening 20 additional storage facilities in 2024.
As the global drive towards deep decarbonization gains momentum, neustark aims to play a pivotal role in tackling hard-to-abate carbon emissions that cannot be reduced through traditional methods.
The company utilizes a mineralization technique to capture CO2 from sources such as biogas plants and then transport it to nearby construction material recyclers. Neustark houses its technology at the recyclers’ facilities, where the captured biogenic CO2 is injected into mineral waste materials like demolition concrete granules.
This initiates a faster mineralization process, converting the CO2 into limestone and permanently binding it to the pores and surface of the granules. Neustark’s storage facilities are both bought and leased by recyclers, and these facilities then offer carbon dioxide removal credits that are accredited by the Gold Standard in exchange for the injected CO2.
This mineralization model has a 93% efficiency rate, which is much higher than other carbon dioxide removal solutions. It also allows for a highly scalable and versatile mechanism that can be used for a wide range of waste materials globally.
Neustark’s thorough business plan and implementation of mineralization enable the tracking, measuring, and verification of carbon removal from its origin to certification.
The announced expansion of neustark is in line with the company’s goal to remove one million tons of CO2 by 2030 and beyond. The new facilities are set to be located in Germany, Austria, France, Switzerland, and the UK.