Temasek and Blackrock to invest in carbon removal strategy

In a joint partnership, Singapore’s Temasek and BlackRock have initiated a $69 million capital raise to enhance global carbon removal efforts by Swiss firm Neustark. 

The Berne-based developer announced the funding round, led by Decarbonization Partners—a collaboration between BlackRock and Temasek. 

Additional investors such as UBS, Blume Equity Holcim, Siemens Financial Services, Verve Ventures, and ACE Ventures have also contributed. With this infusion of funds, Neustark plans to expand its operations across Europe, North America, and the Asia-Pacific regions.

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“The carbon dioxide removal market is experiencing substantial growth, driven by high-quality and durable carbon removal solutions and a surging demand for trusted carbon credits,” said Johannes Tiefenthaler, Co-CEO and founder at Neustark. 

Neustark’s latest funding round aims to strengthen its goal of permanently removing 1 million tons of CO2 by 2030 through innovative carbon capture and mineralisation strategies. 

The Swiss company captures CO2 at its source and accelerates its mineralisation within waste streams, effectively combating atmospheric carbon levels.

This initiative is supported by Decarbonization Partners Fund I, which closed at $1.4 billion in April, exceeding its fundraising goals. This investment marks Decarbonization Partners’ first venture in Europe, reflecting its commitment to advancing sustainable solutions on a global scale.