NextGen CDR, the world’s largest diversified long-term carbon removal portfolio for corporates, has purchased CDRs generated by neustark from mineralizing CO₂ in demolition concrete in 18 sites across Europe.
Building on its commitment to create a scalable market for credible carbon removal at accessible prices, this deal expands the scope of NextGen’s portfolio into a new technology: product mineralization.
- Carbon removals generated from storing biogenic CO₂ in mineral waste streams is an underutilized yet highly effective climate mitigation solution.
- Neustark has already removed 1500 tons of CO₂ and is growing its footprint and impact quickly, with 18 sites currently in operation and 35 more under construction.
Neustark, a Switzerland-based carbon removal developer, has entered a multi-year offtake agreement to provide NextGen CDR (NextGen) with high-quality, durable carbon dioxide removal (CDR). The CO₂ will be removed across neustark’s sites in Switzerland, Germany, Liechtenstein, France, UK and other European countries.
Neustark has developed and deployed a novel process that enables biogenic CO2 to be captured at point source, then permanently stored within existing mineral waste streams such as demolition concrete and slag. The Swiss climate tech company is the market-leading CDR provider via product mineralization, having removed 1,500 tons of CO2 to date. Neustark also ranks among the top 10 of CDR sales worldwide, having sold almost 120,000 tons of high-quality carbon removal to various organizations including NextGen.
Lisa Braune, Head of CDR at neustark, said, “We turn the world’s largest waste stream – demolition concrete – and other mineral waste material into carbon sinks. Our solution is highly durable, high-quality, and is making an impact already: we have removed more than 1500 tons of CO₂ to date. Partnering with such carbon removal pioneers such as NextGen crucially helps to scale the CDR industry.”
The agreement expands the scope of NextGen’s activities to support new carbon removal technologies and accelerate the scaling of the CDR market.
Philip Moss, Chairperson at NextGen CDR noted, “The project adds to our diverse portfolio of CDRs to help us de-risk investments for our corporate partners. It is vital that we support a range of solutions that can scale negative emissions technologies while preparing for compliance markets and greater emphasis on removing residual emissions.”
He added: “We are delighted to expand our geographic footprint and support projects across a number of new countries across Europe in addition to our US commitments. Adding carbon removals from a high-emitting sector like concrete adds to the impact of this deal, complementing our existing transactions in direct air capture & storage, biomass carbon removal and storage, and high durability biochar, and continuing our efforts to deliver one million tons of CDR purchases by 2025.”
Backed by founding buyers Boston Consulting Group, LGT Group, Mitsui O.S.K. Lines, Swiss Re, and UBS, NextGen is an advanced market facility specializing in managing a diversified portfolio of high-durability carbon dioxide removals. It had previously announced close to 200Kt in CDR purchases and plans to commit to 1Mt of CDR purchases by 2025.
18 sites in operations, 35+ under construction
Neustark’s innovative process captures and mineralizes biogenic CO₂, permanently storing it and removing it from the atmosphere as an add-on to existing recycling processes. In 2023, neustark announced a strategic collaboration agreement with Holcim, the global building materials major, to expand carbon removals across concrete supply chains. Neustark’s projects are certified under the Gold Standard to ensure credible third party assessment and transparency related to performance.
Together with partners, neustark currently has 18 carbon removal and storage plants in operation in Switzerland, Austria, Liechtenstein, Germany, with a total annual removal capacity of over 7000 tons of CO2. More than 35 further plants are currently under construction across Europe, and many more in the pipeline. Neustark is scaling up rapidly, on track towards its ambition of permanently removing one million tons of CO2 in 2030.