CEMEX invests in breakthrough clean hydrogen technology
February 1, 2022
- CEMEX continues to be a pioneer in the adoption of hydrogen technology within the cement industry.
CEMEX, S.A.B. de C.V. (“CEMEX”) and CEMEX Ventures (CEMEX's corporate venture capital unit) announced today their investment in HiiROC, a clean hydrogen production startup. HiiROC developed a technology that uses thermal plasma electrolysis to convert biomethane, flare gas, or natural gas into hydrogen at a lower cost than competing solutions and without a CO2 footprint. Together with HiiROC, CEMEX aims to increase its hydrogen injection capacity across its cement operations while reducing the consumption of fossil fuels.
HiiROC, a UK-based company founded in 2019, has developed a novel process that efficiently produces high purity hydrogen and clean carbon black at superior temperatures and pressure. As part of this investment, CEMEX and HiiROC aim to increase CEMEX's hydrogen injection capacity in its cement kilns, allowing for a higher alternative fuel substitution rate of fossil fuels. This initiative is designed to further cut methane emissions and other greenhouse gases downstream, a key objective set at COP26 in Glasgow.
CEMEX has been a pioneer in the adoption of hydrogen within the cement industry. Since 2019, the company has used hydrogen to increase alternative fuel usage and improve thermal efficiency across its cement operations. This investment represents an important commitment approach that allows the company to continue to scale its hydrogen injection strategy while ramping up the substitution rate of fossil fuels in production kilns.
"HiiROC's solution is sustainable, scalable, cost-effective, and has strong growth potential inside the hydrogen ecosystem. This investment is yet another important step in our transition from fossil to alternative fuels and towards achieving our Net Zero goal for 2050. CEMEX is the clear industry leader in the use of hydrogen, and this partnership allows us to further expand our hydrogen knowledge in the ultimate quest to replace fossil fuels with hydrogen in our plants," said Gonzalo Galindo, Head of CEMEX Ventures. "With hydrogen becoming an increasingly attractive element for industrial decarbonization, we are excited to be one of the top companies in the cement industry that include a clean hydrogen production startup in its investment portfolio."
This investment is part of CEMEX's roadmap to achieve its ambitious climate action goals under its Future in Action program, investing today in one of the most relevant sectors for decarbonizing cement operations. With the leverage and synergetic combination of multiple promising technologies, CEMEX aims to achieve its goal of delivering net-zero CO2 concrete by 2050.
HiiROC was named one of the Top 50 ConTech Startups of 2021 in CEMEX Venture’s annual selection of the most promising solutions in the ecosystem. With this investment, CEMEX Ventures joins fellow investors Melrose Industries, HydrogenOne Capital, Centrica, Hyundai, Kia, Wintershall Dea and VNG. For more information on the startup, please visit https://hiiroc.com/
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize on the opportunity areas in the construction ecosystem through sustainable solutions. CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging startups, entrepreneurs, universities, and other relevant actors to tackle the industry's toughest challenges and shape tomorrow's value ecosystem. For more information about CEMEX Ventures, please visit www.cemexventures.com
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
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Analyst and Investor Relations
Alfredo Garza / Fabián Orta