Displaying items by tag: funding

Switzerland: Neustark has raised US$69m in a growth equity round to scale up its carbon dioxide removal technology. The funding, led by Decarbonisation Partners—a collaboration between BlackRock and Temasek—will support Neustark's aim to permanently remove 1Mt of CO₂ by 2030. Climate tech growth investor Blume Equity also joined the round, alongside existing backers Holcim, Siemens Financial Services, Verve Ventures and ACE Ventures.

Neustark has developed a technology that captures biogenic CO₂ at its source and utilises it in building materials through an accelerated mineralisation process. This method is currently applied at 19 carbon capture and storage plants in Switzerland, Austria, Liechtenstein and Germany, with 40 more under construction across Europe.

Johannes Tiefenthaler, co-CEO and founder at Neustark, said “We turn the world’s largest waste stream, demolition concrete, into a carbon sink. In the past year, we have already deployed our unique solution at 19 sites. This growth investment will take us into the next exciting phase of our mission, helping us to further scale our impact across Europe, enter new markets in North America and Asia Pacific, and develop new solutions to store even more CO₂ in mineral waste streams.”

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.

Spain: The Cemex plant in Alcanar has been granted €3m from the PERTE project for industrial decarbonisation, facilitated by the Ministry of Industry. This subsidy is part of a broader initiative involving 19 projects with a total aid of €96m under Line 1 of the programme. Cemex aims to contribute to decarbonisation of the clinker production process at its Alcanar facility by centralising compressed air production to enhance energy efficiency, replacing 14 old compressors with two more powerful and efficient units. The plant also plans to increase the use of alternative fuels in clinker production by integrating waste-derived and biomass fuels.

Spain: The Cemex plant in Morata de Jalón, Zaragoza, has won €2.8m in aid from the Spanish Ministry of Industry's first Perte resolution for industrial decarbonisation. This funding, part of a larger €96m aid package, will support the plant's clinker production process and its transition to using sustainable fuels.

The aid will increase the use of alternative fuels in clinker production by incorporating waste-derived and biomass fuels.

Germany: Buzzi Unicem subsidiary Deuna Zement plans to invest €350m to install a carbon capture system at its cement plant in Deuna, having completed two feasibility studies. The Thüringer Allgemeine newspaper has reported that, when operational in 2029, the system will capture 620,000t/yr of CO₂. This will make the Deuna cement plant carbon neutral. The company has applied for government funding for the project.

Buzzi Unicem said that its subsidiary is ‘Doing pioneering work on the path to decarbonising the cement industry.’ It added “The system will be efficient and take all relevant environmental considerations into account.”

Australia: Cement Australia has received a US$34.4m federal grant for a kiln upgrade to its Railton cement plant in Tasmania. The upgrade will allow the plant to raise its alternative fuels substitution rate. The project is funded by the government’s Powering the Regions initiative, with total investments valued at US$215m.

Australian Minister for Climate Change and Energy Chris Bowen said “This US$215m investment in Australia’s hard-to-abate manufacturing and mining facilities is about securing the future of high-quality, low-emissions products made right here. Northern Tasmania, Central Queensland and Western Australia have been industrial powerhouses for generations, and the government is ensuring that continues. As global markets change rapidly, we’re supporting Australian industry to not only survive but thrive with our world-class products that support regional jobs across the country.”

Australia: The Australian federal government has granted Adbri US$32.5m for a new front-end engineering and design study at its Birkenhead cement plant. The study will assess the possible installation of a new vertical roller mill and post-production blending system at the plant. InDaily News has reported that the proposed upgrade will increase the plant’s production capacity and help to expand its range of reduced-CO₂ cements. The funding falls under the government’s US$260m Critical Inputs to Clean Energy programme, which aims to help decarbonise the Australian economy by 2050.

CEO Mark Irwin said “With the Commonwealth’s support we have the potential to further accelerate the decarbonisation of our operations and products.”

US: The US Department of Energy has selected four cement producers to receive funding under the Bipartisan Infrastructure Law and the Inflation Reduction Act.

Heidelberg Materials US secured up to US$500m for its planned 2Mt/yr carbon capture project at the Mitchell cement plant in Indiana. National Cement also received up to US$500m, for its Lebec Net Zero limestone calcined clay cement (LC3) project in California. Summit Materials received up to US$216m for a series of clay calcination projects in Georgia, Maryland and Texas. Lastly, Roanoke Cement will receive up to US$61.7m for an LC3 project at its Troutville cement plant in Virginia.  These projects also involve developing a training, education and certification consortium in the cement sector.

Portland Cement Association (PCA) president and CEO Mike Ireland said "This funding is a welcome acknowledgement from the government that America's cement manufacturers are taking ambitious and significant steps toward reaching carbon neutrality. This will move the needle closer to achieving what industry considers the 'heavyweight' of carbon solutions: carbon capture utilisation and storage (CCUS). Once established nationwide, CCUS will greatly accelerate cement manufacturers' charge toward net zero."

Senior vice president of government affairs Sean O'Neill added “From passage of the Bipartisan Energy Act of 2020 to securing funding through the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, today's announcement is another major milestone in the cement industry's decarbonisation efforts. The PCA is committed to continuing to work with policymakers to ensure the regulatory environment facilitates rather than impedes these and future investments.

New Zealand: Neocrete, a New Zealand start-up that decarbonises concrete production, has raised US$4m in seed funding. Wavemaker Partners, a Singapore-based venture capital firm, led the funding round with a 15% stake for US$2.7m. The funding also included contributions from five other investors, including NZ Green Investment Finance, which acquired a 3.8% share for US$700,000. Neocrete, founded in 2018, has developed an additive that can reduce the cement in concrete by 30-50% without loss in strength, increasing its durability.

Wavemaker Partners' managing partner Paul Santos said "Neocrete is designed to scale rapidly by using a cost-efficient production process that can leverage existing infrastructure."

Zarina Bazoeva, Neocrete co-founder and CEO, said that the funding will enable the company "to scale to meet initial global demand for Neocrete’s additive”. The company plans to complete setting up an Auckland manufacturing facility and scale up a research and development programme, "which is on track to produce cement-free, zero-carbon concrete by 2027,” according to Bazoeva.

US: Brimstone is negotiating a US$189m Federal award with the Department of Energy to finance the construction of a new decarbonised cement plant. This plant will produce up to 140,000t/yr of Ordinary Portland Cement and supplementary cementitious materials, reducing CO₂ emissions by 120,000t/yr.

Brimstone's process uses carbon-free calcium silicate rocks, reducing its CO₂ footprint. In July 2023, Brimstone's cement met ASTM C150 standards, confirming the effectiveness of its decarbonised process. The company is preparing to construct a pilot plant near Reno, Nevada.