Displaying items by tag: funding

US: The Portland Cement Association (PCA) has told the Department of Energy’s Advanced Manufacturing Office (AMO) that federal policy and support is vital to accelerate the deployment of technologies that can decarbonise the local industrial sector. In its comments to the office, the PCA said that it shares the Biden-Harris Administration’s goal of carbon neutrality by 2050 through its own Roadmap to Carbon Neutrality, which lays out a pathway to achieve this across the cement-concrete-construction value chain by 2050. However, it warned that without strong federal support the AMO’s timeline to reach carbon neutrality across industry was unrealistic due to the “significant technical, legal and economic challenges regarding technologies like carbon capture utilisation and storage (CCUS), and others including hydrogen fuel and kiln electrification.”

“Federal policy must accelerate the significant technology, funding, and market innovation needed for rapid decarbonisation while preserving economic growth and international competitiveness,” said Sean O’Neill, senior vice president of government affairs at the PCA. “The adoption of CCUS is key to achieving deep decarbonisation in the cement industry.”

The PCA added that with the right federal and state policies, CCUS could become scalable within 10 years but infrastructure, policy, permitting and funding challenges remain. It suggested that tax incentive reforms and the use of Department of Energy loan programmes could accelerate early investment and adoption of CCUS.

The use of hydrogen fuels and kiln electrification was mentioned but these technologies are seen as being at least 15 – 20 years away. The association said that hydrogen remained very expensive and there was little current infrastructure for the transport and storage of hydrogen. More research and development is required to start evaluating the efficacy of kiln electrification.

US: Denmark-based life sciences investment company Novo Holdings says that it has invested US$65m in bio-based clinker-free cement producer Biomason. Biomason uses microorganisms to grow its Biocement cement, without heating or CO₂ emissions. The producer is in its Series C round of financing. Novo Holdings previously invested in its Series B financing round.

UK: A consortium led by Australia-based First Graphene dedicated to developing graphene-enhanced cement has won Euro228,000 in UK government funding. Innovation agency Innovation UK selected the consortium for its work’s potential to contribute towards cement and concrete’s carbon footprint reduction of 25% by 2030. UK-based Breedon Cement represents the cement industry within the consortium.

India: Udaipur Cement Works plans to raise US$114m through an issuance of non-convertible debentures (NCDs). India Infoline News Service has reported that the company will use the money it raises to fund Phase 1 of its on-going expansion project.

Japan: The CP Concrete Consortium has received US$80m in funding under the New Energy and Industrial Technology Development Organisation (NEDO)’s Green Innovation Funding Programme. The funding will support the consortium’s development of its Carbon Pool Concrete reduced-CO₂ concrete production technology until 2032. Hazama Ando Corporation leads the consortium along with 14 other members of the Japanese Ready-Mixed and Returned Concrete Solution Association.

Carbon Pool Concrete technology can be used in the construction of pavements, buildings and other civil engineering structures. Through comprehensive carbon life cycle evaluation, the consortium is attempting to robustly link the use of its technology with carbon market instruments and environmental and social governance infrastructure funding. Its aim is to redefine concrete as a carbon neutral material.

Switzerland: Holcim has successfully issued two sustainability-linked bonds worth US$355m and US$109m in the Swiss market. The group says that the issuances are another way in which it keeps climate action at the heart of its financing strategy. It brings the total sum raised by Holcim through sustainable financing agreements to US$7.33bn. Investors will be entitled to a higher coupon if the company does not achieve its climate objective.

Chief finance officer (CFO) Géraldine Picaud said “We are proud to be the first company to launch a sustainability-linked bond on the Swiss franc market. The bond attracted new environmental and social governance investors, demonstrating their confidence in Holcim’s financial strength, strategy and ability to deliver our sustainability targets.”

Spain: Cement Science Group (CemSciG) and the University of Málaga (UMA) have received a US$50,000 donation from US-based CSA Research for their research into reduced-CO₂ cement production. The funding will continue the partners’ work at UMA’s department of inorganic chemistry, crystallography and minerology into alternative methods of cement production. Titles of their on-going projects include ‘Optimisation and Processing of LC3 Eco-Cements with Spanish Clays,’ ‘Microstructure Analyses of Limestone Calcined Clay Cements by Advanced Synchrotron Techniques’ and ‘Reduction of Cement Industry CO₂ Emissions without Loss of Mechanical Properties.’

Pakistan: Fauji Cement has taken out a loan of US$212m from a consortium lead by Habib Bank Limited. The Business Recorder newspaper has reported that the funding will go towards cement plant expansion projects with a total cost of US$339m. Fauji Cement plans to expand its plant in Dera Ghazi Khan, Punjab, while its subsidiary Askari Cement plans to expand its plant in Nizampur, Khyber Pakhtunkhwa. The company says that the projects will together increase its installed cement production capacity to 10Mt/yr.

Japan: Taiheiyo Cement is among 13 participant companies whose proposed carbon capture, utilisation and storage (CCUS) demonstration hub has received approval to proceed with funding from the Japan Ministry of the Environment. Nikkei Business Trends News has reported that Toshiba Energy Systems and Solutions, Uyeno Transtech, JGC, Chiyoda, Taisei Corporation, the University of Tokyo, Kyushu University, Japan NUS, the National Institute of Advanced Industrial Science and Technology and QJ Science also collaborated in the development of the CCUS system. The trial will begin in early 2022 and conclude in the 2025 financial year.

UK: Innovative Ash Solutions has received a Euro588m Scottish government grant to establish a 20,000t/yr ash processing plant in South Lanarkshire. The Herald newpaper has reported that the plant will process boiler ash, cyclone ash and incineration fly ash for use in local cement production. When commissioned in 2022, the plant will eliminate 6104t/yr of CO₂ emissions, according to the operator. The government granted the funding under its Zero Waste Scotland circular economic investment scheme.

The company said “Using this new patented process, which diverts waste materials from landfill and avoids the use of virgin sand, creates a product which is cheaper and will reduce the environmental impact of cement production compared to the use of imported pulverised fuel ash.”

Innovative Ash Solutions is a joint venture of waste management company Levenseat and consultancy Organic Innovative Solutions.