CEMEX and Carbon Clean to develop low-cost carbon capture technology
September 17, 2020
- The companies signed an agreement to develop an efficient and affordable carbon capture solution by 2021, which will be the lowest in the cement sector.
- Studies and an industrial scale-pilot project will begin soon at a CEMEX facility to develop the largest modular carbon capture facility to date in the cement industry at the lowest commercial cost possible.
- CEMEX moves forward with its ambition to deliver net-zero CO2 concrete globally by 2050.
CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today that, through CEMEX Ventures, its Corporate Venture Capital unit, it has signed an agreement with Carbon Clean, a leader in low-cost modular carbon dioxide capture and separation technology, aimed at developing a carbon capture solution for the cement industry that lies below the line of U.S.$30/ton cost of CO2 captured.
The ambitious target of making carbon capture technology accessible and more efficient would be an unprecedented achievement for the cement sector, opening a door of opportunities for further developments.
With the responsibility of taking action to fight climate change and shift towards a carbon-neutral economy, CEMEX joins forces with Carbon Clean to make possible the development of a technology that allows for the economically viable capture of CO2 emissions in the cement industry at industrial scale.
As part of the agreement, both companies will further develop and adapt Carbon Clean’s third generation modularized carbon capture technology for the cement industry. Carbon Clean uses an integrated modular system that works using rotating packed beds (RPBs) to intensify the carbon capture process. This technology could provide a significant reduction in both capital cost and equipment size, when compared to traditional capture technologies, enabling the wider-scale commercial deployment of carbon capture systems.
The technology will be tested for the first time in the cement industry at a CEMEX facility by deploying an industrial-scale pilot during the first quarter of 2021. CEMEX and Carbon Clean will jointly work toward making the solution even more efficient before the construction of what would be the most cost-effective commercial installation for carbon capture in the cement industry to date. With the capacity to capture up to 100,000 tons of CO2 per year at a cost lower than U.S.$30/ton of CO2 captured; this is a very relevant step in developing the technology required for adoption by the entire cement sector at a worldwide scale.
“Accomplishing CO2 capture at an industrial scale and affordable cost is one of the biggest challenges that CEMEX is facing in its road to deliver net-zero CO2 concrete products globally by 2050. Partnering with Carbon Clean seemed like a perfect fit for us. We believe in their technology and know that working together, we can make possible a more cost-effective carbon capture solution below the U.S.$30/ton threshold,” said Gonzalo Galindo, Head of CEMEX Ventures.
“Carbon Clean’s vision of working with players from various industries is something we value in CEMEX Ventures. Due to the impact of CO2 emissions on global warming and the importance of implementing new solutions to reduce the environmental impact, we look forward to joining efforts with other companies that are also working towards achieving carbon neutrality.”
Aniruddha Sharma, CEO of Carbon Clean, said: “We are delighted to be partnering with CEMEX to deliver on our shared goal of decarbonizing the cement sector through the utilization of CCUS. We are confident that this partnership and the operating experience of CEMEX will help us bring down the cost of carbon capture to just U.S.$30/ton of CO2 captured by 2021, which will help accelerate take-up of the technology across the cement industry and beyond.”
About Carbon Clean
Carbon Clean is a global leader in low-cost CO2 capture technology. The company’s patented technology significantly reduces the costs and environmental impacts of CO2 separation, when compared to existing techniques.
The technology has been proven at scale in over 10 locations, including the UK, USA, Germany, India, Norway and the Netherlands. It is currently in use at the world’s largest industrial-scale carbon capture and utilization plant in Tuticorin, India. The UK Government has supported Carbon Clean’s development of its technology through competitive grants.
The company was awarded a ‘Technology Pioneer’ award by the World Economic Forum in 2015 and was featured in the ‘BGF 10 Green Tech to Watch’ list in The Sunday Times in 2020. Carbon Clean is headquartered in London, UK and also operates offices in India and the United States. For information about Carbon Clean: www.carbonclean.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 is a global building materials company that provides high-quality products and reliable services. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. For more information, please visit: www.cemex.com
CEMEX and CEMEX Ventures assume no obligation to update or correct the information contained in this press release. CEMEX and CEMEX Ventures are not responsible for the content of any third-party website or webpage referenced to or accessible through this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX and CEMEX Ventures intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. In some cases, these statements can be identified by the use of forward-looking words such as “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “plan,” “believe,” “foresee,” “predict,” “potential.” “target,” “strategy,” “intend” or other similar words. These forward-looking statements reflect CEMEX’s and CEMEX Ventures´ current expectations and projections about future events based on CEMEX’s and CEMEX Ventures´ knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s and CEMEX Ventures´ current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s and CEMEX Ventures´ expectations.
Carbon Clean Media Requests
+44 (0) 7930 119 289 / +44 (0) 7870 487 532