First supermarket to install carbon capture technology by Berlin Start-up
The Berlin-based carbon removal company NeoCarbon has announced a strategic partnership with Greenman, one of Europe’s leading real estate investment fund managers. In an initial pilot project, NeoCarbon will install their proprietary carbon capture system at a site operated by Greenman, which owns and manages a portfolio of more than 90 supermarkets and food retailers across Germany. Greenman, acting in its capacity as Alternative Investment Fund Manager to Greenman OPEN and the entire Greenman Group, has signed a cooperation agreement with NeoCarbon outlining the terms of this initial project and announcing the intention to retrofit the full Greenman OPEN portfolio with NeoCarbon modules.
The first module installed in the pilot project is expected to capture several tonnes of CO2 per year. NeoCarbon’s technology can be integrated into the building’s existing heating, ventilation and air conditioning (HVAC) system. By using waste heat as an energy source— for example, the excess heat given off by freezers and refrigerators— the modules can remove carbon cost-effectively while contributing to the overall energy efficiency of the building.
John Wilkinson, Greenman CEO, stated, “Sustainable and profitable growth is our driving principle at Greenman. This project aligns perfectly with our goal to achieve net-zero across our portfolio by 2050, as well as our commitment to an innovative approach that fosters positive development in the retail sector. We look forward to a fruitful partnership with NeoCarbon, and to continued efficiency improvements in our supermarket portfolio.”
René Haas, NeoCarbon co-founder and CEO, commented, “As negative emissions and energy efficiency grow in importance, we are proud to help grocery retailers make progress toward these targets in a way that’s compatible with their existing operations. With Greenman as a partner, we have the opportunity to take clear steps toward achieving net-zero in Germany’s food retail sector.”
About NeoCarbon
NeoCarbon removes CO2 cost-efficiently from ambient air, leveraging existing waste heat streams to tackle climate change. The Berlin-based team has developed their own novel reactor for their Direct Air Capture technology, and the first customer project went live in H1 2024. NeoCarbon is now backed by four venture capital firms and the team is focusing its efforts on scaling carbon removal credit pre-procurements and accelerating rollouts to industrial and commercial sites with low-temperature waste heat.
About The Greenman Group:
The Greenman Group, Europe’s only fully integrated grocery-anchored real estate investment and fund management group, operates through ten closely aligned businesses across six nations, with over 150 professionals. Historically rooted in the grocery real estate sector, the group has expanded its focus to include sustainability and innovation. Our portfolio, valued at approximately € 1.35 billion across France, Germany, and Poland, is actively transitioning towards Paris-aligned net-zero targets and evolving retail system demands, integrating ventures such as vertical farms, renewable energy, and innovative pilot projects in carbon removal and augmented reality. For more information, please visit thegreenman.group.
About Greenman (PBPL):
As a sector-specific real estate investment fund manager, Greenman is dedicated to generating consistent annual income for its investors. The firm’s commitment to environmental sustainability is integral to its strategy, guided by a robust Environmental, Social, and Governance (ESG) framework. In recent updates, Greenman reclassified its Greenman European Supermarkets (GES) as an Article 8 fund and Greenman OPEN as an Article 9 fund under the Sustainable Financial Disclosures Regulation (SFDR). In 2022, a Net Zero Pathway was initiated to align OPEN’s portfolio with a zero net carbon emission target.
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