CO2 removal in building materials: CDR alliance grows
Over the next few years, NextGen CDR will purchase CO2 removed from the air and permanently stored in building materials (carbon dioxide removal, CDR) from the Bern-based company Neustark at 18 locations. The CDR alliance includes Mitsubishi, South Pole, UBS and SwissRe.
Over the next few years, NextGen CDR will purchase CO2 removed from the air and permanently stored in building materials (carbon dioxide removal, CDR) from the Bern-based company Neustark at 18 locations. The CDR alliance includes Mitsubishi, South Pole, UBS and SwissRe.Neustark will ensure the high-quality, permanent removal of CO2 from the atmosphere for NextGen CDR in the coming years. The two companies have signed a multi-year agreement to this effect, according to a press release.
The CO2 will be removed by Neustark at its sites in Switzerland, Germany, Liechtenstein, France, the UK and other European countries. The Bern-based ClimateTech company has developed an innovative process that captures biogenic CO2 at source.
“We turned the world’s largest waste stream – demolition concrete – and other mineral waste materials into carbon sinks,” explains Neustark’s Head of CDR, Lisa Braune. “Partnering with carbon removal pioneers like NextGen is critical to scaling the impact of the CDR industry.”
According to NextGen, NextGen has already removed 1500 tonnes of CO2. With 120,000 tonnes of high-quality carbon removal sold to various organisations, Neustark is among the top 10 worldwide.
According to NextGen GDR, the alliance was “developed specifically for corporate buyers committed to Net Zero targets. It makes durable, high-quality CDRs accessible at a target price of $200 per tonne.” NextGen CDR is operated by Zurich-based climate consultancy South Pole and Mitsubishi Corporation, and supported by founding buyers Boston Consulting Group, Liechtenstein-based LGT Group, Tokyo-based shipping company Mitsui O.S.K. Lines, Zurich-based reinsurer Swiss Re and major bank UBS. NextGen CDR plans to purchase a total of 1 million tonnes of CDR by 2025.