ACE Ventures portfolio company, Neustark, raised $69 million in a funding round, marking a major milestone in the firm's mission to remove 1 million tons of CO2 by 2030.
This investment will enable Neustark to scale promising carbon removal technology and expand its offerings to address growing global demand.
Additionally, the company plans to expand its team and enter new markets in North America and Asia-Pacific.
We are excited to welcome new partners to the family, Decarbonization Partners (JV between BlackRock and Temasek) and Blume Equity, which join existing investors Siemens Financial Services, Verve Ventures, Holcim.
Alessandra Agnello, Principal at ACE Ventures, commented: “We back new solutions to address the world’s most pressing challenges. We're in it for the revolutionary shifts and lasting impact, not market trends. And that’s where we see Neustark: they have developed a ecologically and commercially viable solution to meet the increasing need for carbon removal.”