Displaying items by tag: Investment

Australia: Woodside Energy and Cemex have invested US$6.7m in Melbourne-based KC8 Capture Technologies to support its efforts in achieving net zero emissions via carbon capture and storage.

KC8 is partnering with Cement Australia to construct a commercial demonstration plant in Gladstone, Queensland, aiming to capture 15t/day of CO₂. A partnership with Cemex aims to capture over 100t/day of CO₂ at one of its major plants. Additionally, KC8 plans a commercial pilot at the US Department of Energy’s National Carbon Capture Centre to capture 10-15t/day of CO₂ from natural gas combustion flue gas. The initiative has also secured US$6m from Low Emission Technology Australia and US$11.26m from the US government.

Executive director Greg Ross said "The funds will be used to expand KC8’s team and expedite deployment of its technology into hard-to-abate industries, such as cement – through a number of key projects."

UK: The Materials Processing Institute has launched the next phase of the EconoMISER programme with a €5m investment to develop sustainable technologies. The institute aims to advance research in alloy development, furnace modelling and decarbonisation of cement and concrete.

The institute will establish a new cement and concrete research centre and invest in technologies such as predictive artificial intelligence for alloy development. This initiative is part of the UK's effort to decarbonise critical sectors like cement through the EconoMISER programme, supported by UK Research and Innovation.

Switzerland: Holcim plans to invest around US$278m in its three Swiss cement plants to reduce the use of fossil fuels in cement production and comply with future limits set by the Swiss Air Quality Control Ordinance. The ‘Phoenix’ project alone is expected to cost between US$78 and US$111m, according to Clemens Wögerbauer, chief commercial and sustainability officer at Holcim Central Europe West.

The Phoenix project will reduce the use of lignite for heating cement kilns. A gasifier will be constructed to process waste materials like residual wood, paper sludge and plastics into synthesis gas for heating the kilns. Additionally, a catalyst powered by the kiln's waste heat will be used to reduce nitrogen and ammonia emissions, aligning with future Swiss environmental targets. The Siggenthal plant is expected to reduce its CO₂ emissions by over 30,000t/yr from its current output of 450,000t/yr.

The new facility is scheduled to start operating in 2028 and may be replicated in other Holcim cement plants if successful. The Phoenix initiative will increase the proportion of alternative fuels used from the current 57% to 80%, targeting over 85%.

US: Holcim has invested in Travertine, utilising the startup's technology to bind CO₂ from direct air capture into advanced mineral components for permanent carbon sequestration. This investment, made through Holcim MAQER Ventures, will scale Travertine’s technology for cement decarbonisation.

Chief Sustainability Officer at Holcim, Nollaig Forrest, said, "We're excited to work with innovative startups like Travertine to advance our goal of making decarbonised cement and concrete a reality at scale this decade. Driving circularity, Travertine reduces carbon emissions by capturing and binding CO₂ into advanced mineral solutions."

India: Shree Cement says that it has reached 1GW captive power capacity across its plants, after commissioning a new 19.5MW solar power plant at a facility in Andhra Pradesh. Renewables account for 499MW (50%) of the total. Shree Cement says that its investments in renewables to date total US$479m. NBM & CW News has reported that the company has current planned new investments worth US$120m in renewables. This will cover 132MW-worth of solar, 36MW of wind and 34MW of waste heat recovery power capacity.

France/Europe: Eurazeo, via its Smart City fund, alongside the EIC Fund and existing investors, is supporting Materrup with a €26m fundraising effort to expand its low-carbon cement technology across France and Europe. This investment will accelerate the deployment of Materrup's circular low-carbon cement plants using its non-calcined clay technology. Already operational with its first scale plant in Landes, Materrup plans to establish an additional 10 plants, in collaboration with European industrial partners.

South Korea: Korea Cement has plans to conduct a capital increase of US$36.3m. The producer said that it will use the funds to invest in its operations.

Nigeria: The government of Bauchi State has signed a deal with Resident Cement and Sinoma Nigeria Company for the construction of their upcoming 10Mt/yr cement plant in the state. The deal stipulates total investments by the companies of US$500m to build the plant, situated in Gwana District.

Governor Bala Abdulkadir Mohammed said "We are reassured in our commitment to maximise the available resources to exploit the natural resources Bauchi State possesses for the economic development of the state.”

Russia: Belarusian Cement has concluded a deal with the Moscow regional government to build a logistics facility in the region at Naro-Fominsk. Prime Press News has reported that the facility will cost US$22.5m. It will be equipped with ready-mix concrete, precast concrete and dry mix plants, as well as a rail terminal, storage areas and loading zones for despatches by road.

Director General Alexander Dovgalo said "This investment will not only bolster our logistics capabilities but also enhance our service quality for Russian partners and extend our market reach within Russia and the CIS member states."

Global: Ministers from Canada and the UAE have established priority actions to decarbonise the global sector. The announcement follows the initiative's launch at the United Nations Climate Change Conference (COP28) in December 2023.

The plan outlines sector-specific actions across themes such as education, innovation and environmental coordination. These efforts aim to make ‘near-carbon neutral’ cement production the preferred option globally by 2030.

In addition, the government of Canada and the United Nations Industrial Development Organisation (UNIDO) have announced a new partnership aimed at accelerating decarbonisation in Thailand’s cement and concrete sectors. The collaboration was unveiled in conjunction with the CEO Gathering and Leaders Conference in Bangkok, hosted by the Global Cement and Concrete Association (GCCA). The partnership will provide technical assistance and investment support to develop policies, a regulatory framework and a national net-zero roadmap.