Displaying items by tag: Investment
Austria: Baumit has invested Euro5.6m in a new waste heat recovery (WHR) system at its Wopfing cement plant in Lower Austria. The producer claims that the installation will enable it to make energy savings of almost 20GWh/yr, corresponding to the energy consumption of 1000 households.
Commercial director Georg Bursik said “We have been using the waste heat for drying systems in the plant for decades. Thanks to this investment, the use of waste heat can be further increased – saving 4000t/yr of CO2.
Uzbekistan: The Minister of Investments and Foreign Trade (MIFT) says that an unnamed Singapore-based company is considering building an integrated cement plant in the country. The Uzbekistan National News Agency reports that investors from Singapore attended a meeting with Aziz Voitov, the First Deputy Minister of MIFT, and Adham Ikramov, the chairman of the Chamber of Commerce and Industry.
India: Ramco Cements plans to invest US$80.8m in future upgrades to its cement plants before 30 March 2022. In the first quarter of the 2022 financial year, which begun on 1 April 2021, the company invested US$53.9m in upgrades. The Hindustan Times newspaper has reported that realisation of its spending plan would bring the producer’s total upgrade investments for the 2022 financial year to US$135m.
Australia/UK: InterGroup Mining has secured just under Euro60m from Luxembourg-based investment group GEM Global Yield as part of a share subscription facility. The Australia-based mining company says it will use the funds primarily for the ongoing development and commercialisation of its Brilliant Brumby kaolin and gold project in Queensland. The company hopes to sell the kaolin for use in cement and concrete production or as a feedstock for high purity alumina (HPA). It says it will be able to drawdown the funds over a 36-month term following a public listing of its common stock.
Neil Miller, the chairman of InterGroup said, “The GEM facility provides a major accelerator for InterGroup as we continue to prove up the scale of our Brilliant Brumby project and the optimal development path for the co-mining opportunity of kaolin and gold. It likewise enables us to continue our important research and development work into the new carbon reduction markets of potential scale that our minerals serve and which complement their existing known end markets.” InterGroup is currently working towards a potential stock market flotation in the second half of 2021.
Cemex Ventures invests in Carbon Clean
04 August 2021Mexico/UK: Cemex Ventures has become an investor in Carbon Clean. It joins existing investors Equinor Ventures, ICOS Capital and WAVE Equity Partners. The companies have invested US$8m in Carbon Clean extending its US$22m series B investment round, previously announced in July 2020, to US$30m in total. Cemex’s investment is part of its strategy to achieve its new climate action goals, including being net carbon neutral in concrete by 2050, under its Future in Action programme.
Carbon Clean has developed a modular CO2 capture and separation technology that it calls CycloneCC. As well as reducing the size of installation and construction time, it is aiming to reduce operating expenditures to around US$30/t of CO2 at an industrial scale. In 2020, the subsidiary of Cemex signed an agreement with Carbon Clean, which allowed the companies to outline a roadmap for jointly developing and implementing carbon capture technologies across cement operations.
Botswana: Rachit Josh, the managing director of Matsiloje Portland Cement, says that the company hopes to restart production by the end of 2021. The cement producer is currently in talks with an investor to support the move by establishing a partnership, according to the Mmegi newspaper. Joshconfirmed that the company’s integrated cement plant is currently closed. The plant, which is owned by Nortex Textiles, closed in January 2018 due to competition from South African imports. When operational it produced around 30,000t/yr of cement.
Solidia Technologies raises US$78.0m in funding
04 May 2021US: Solidia Technologies has raised US$78.0m-worth of private investment in a funding round. The latest investors include Imperative Ventures, Zero Carbon Partners and Breakthrough Energy Investors. Existing backers providing new funds include BP, John Doerr and OGCI Climate Investments, which is the venture capital arm of the Oil and Gas Climate Initiative, a consortium of multinational oil companies. Solidia Technologies produces reduced-CO2 concrete with lower-energy cement and water-free CO2 curing.
Tanzania: Tanzania Portland Cement has announced plans to invest a total of US$15.0m in modernising its 2.0Mt/yr-capacity Tanzania Portland Cement plant in 2021. The Tanzania Daily News newspaper has reported that the producer says its main challenge is cargo delays at the port of Dar es Salaam. This has caused concern for potential investors, according to the company. Senior commercial manager Danford Semwenda lobbied the government to help solve the problem.
Canada: Svante has raised US$75m in an investment round. The financing was led by Temasek and includes strategic investors Chart Industries, Carbon Direct and Export Development Canada (EDC). Existing investors OGCI Climate Investments, BDC Cleantech Practice, Chevron Technology Ventures, The Roda Group and Chrysalix Venture Capital also participated in the round.
The investment gives the company will allow the company to advance a number of initiatives over the next three years, including work to support several commercial scale carbon capture facilities to address hard-to-abate emissions from industrial operations such as cement manufacturing, blue hydrogen production and natural gas boilers. Svante has now attracted more than US$150m in funding since it was founded in 2007 to develop and commercialise its solid sorbent technology.
“Lowering the capital cost of the capture of the CO2 emitted in industrial production is critical to the world’s net-zero carbon goals required to stabilize the climate. Leaders from industry, financial sectors and government agree on the enormity of the challenge and the critical need to deploy carbon capture and carbon removal solutions at Gigatons scale. The carbon pulled from earth as fossil fuel needs to go back into the earth in safe CO2 storage,” said Claude Letourneau, President CEO of Svante.
Cemex Ventures invests in Modulous
19 January 2021UK: Cemex Ventures has invested in Modulous, a London-based company that uses a modular construction system. Modulous says it digitises its materials supply chain management to reduce costs and time and in construction process. It uses machine learning, generative design and 5D BIM modelling in its supporting software to support this. No value for Cemex Ventures’ investment in Modulous has been disclosed.
"By including Modulous in our portfolio, we offer the industry a unique offsite construction model" said Mateo Zimermmann, head of Cemex Ventures investment in Modulous. "The Modulous innovative approach enables the supply chain to deliver sustainable and high-quality homes, significantly reducing time and costs. Modulous does not require additional capital expenditure, which makes it globally scalable. This team is going to revolutionise the residential development industry.”
Modulous has secured a number of projects in the UK and Europe. It is currently preparing the delivery of a Euro7m residential scheme in London using its design and construction system that it claims will achieve completion 12 months ahead of schedule. Modulous is one of the winners of the 2020 Construction Startup Competition, the annual startup challenge organized by Cemex Ventures.