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Displaying items by tag: funding
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.
Malayan Cement to raise US$55.0m through share placement
16 April 2021Malaysia: Malayan Cement is expected to raise US$55.0m through a proposed placement of 10% of its shares. Bernama Daily Malaysian News has reported that the company plans to use US$13.1m as working capital. The remainder will repay its bank debts.
UK: Germany-based HeidelbergCement subsidiary Hanson has received the green light for its planned carbon capture and storage (CCS) study at its Padeswood cement plant in Flintshire after its partner, the HyNet North West consortium received Euro84m in funding. The study will support a design basis and cost estimate for a carbon capture unit at the cement plant and a connection to the planned HyNet North West CO2 transport and storage system. Euro46m of the funding came from consortium partners while Euro38m came from a UK Research and Innovation (UKRI) Industrial Decarbonisation Challenge grant.
Hanson chief executive officer Simon Willis said, “Today’s funding announcement is fantastic news for everyone involved in HyNet North West. Cutting CO2 emissions is a key priority for us, and we are excited to be one of the first UK cement producers working on carbon capture and storage (CCS) as part of this collaborative project.” He added, “We’ve taken big steps towards reducing carbon emissions and have set ourselves an ambitious target of achieving a 50% reduction in CO2 emissions by 2030, based on 1990 levels, and net zero carbon concrete by 2050. CCS at cement plants is a key part of our roadmap to net zero.”
Norway: The Norwegian Parliament has voted in favour of the government’s proposed grant of funding for industrial scale implementation of full-scale carbon capture and storage (CCS) at HeidelbergCement subsidiary Norcem’s Brevik cement plant. Work on the project is expected to start immediately, with the goal of starting CO2 separation from the cement production process by 2024. The end result will be a 50% cut of emissions from the cement produced at the plant. The group said that the installation will contribute to its CO2 emissions reduction target of 30% between 1990 and 2025.
Norcem chair and HeidelbergCement Northern Europe regional general manager Giv Brantenberg said, “HeidelbergCement highly appreciates the successful cooperation with the Norwegian authorities. The Brevik CCS project clearly shows the importance of industry and public sector to find common solutions in the fight against climate change.”
HeidelbergCement chair Dominik von Achten said, “We are delighted about the final approval of the Norwegian parliament for our breakthrough CCS project in Norway.” He added, “To meet national and international climate targets, CO2 separation is an important cornerstone. Our CCS project in Brevik will pave the way for our industry and other sectors.”
Cemex USA partners with Membrane Technology & Research for government-funded Balcones cement plant carbon capture study
10 November 2020US: The Department of Energy has granted Cemex funding to “research and develop innovative carbon capture technology” at its Balcones, Texas cement plant. The company says that this will partly fund an 18-month feasibility study of partner company Membrane Technology & Research’s membrane carbon capture product at the plant. It says that, if successful, the study will be “an important advancement towards Cemex’s ambition to deliver net-zero carbon dioxide (CO2) concrete globally by 2050.”
USA president Jaime Muguiro said, “At Cemex, sustainability is embedded in our operations and we are consistently looking for opportunities to reduce our carbon footprint. We strive to develop and gradually adapt new technology which will help us achieve our ambition to deliver net-zero CO2 concrete to all of our customers. With this grant, we will be able to leverage our expertise to define the feasibility of implementing the membrane carbon capture technology in a cost-effective manner.”
Membrane Technology & Research has supplied membrane-based separation systems to the petrochemical, natural gas, and refining industries since 1992. Vice President of Technology Tim Merkel said, “Cement plant emissions are a good target for the CO2 capture membrane technology that we’ve been developing with Department of Energy support.” He added, “We look forward to working with Cemex on this exciting project to confirm that our technology can capture cement plant emissions at a minimal cost.”
Norway: Private accreditation body DNVGL has certified Aker Solutions’ 400,000t/yr carbon capture and storage (CCS) system installation at Germany-based HeidelbergCement subsidiary Norcem’s 1.2Mt/yr integrated Brevik plant in Telemark as safe. HeidelbergCement Northern Europe director of sustainability and alternative fuels Per Brevik said, “The promising results from pilot testing in Brevik give us confidence that realisation of the full-scale capture plant will be successful. We trust that the project risk related to novel technology elements is low.”
Following an 18-month test of the partial installation, the certification ensures that the full-scale project will receive government funding.
New buyer signs Schwenk Namibia deal
06 January 2020Namibia: China-based West China Cement concluded a sale and purchase agreement for Germany-based Schwenk Zement subsidiary Schwenk Namibia for US$104m on 3 January 2020. The Nambian newspaper has reported that the deal is awaiting clearance from authorities. Schwenk Namibia holds a 70% stake in Ohorongo Cement. Singaporean authorities stopped the sale of Schwenk Namibia to Singaporean-based International Cement Group (ICG) in September 2019 due to the latter’s inability to cover the losses of the Namibian company.
Cementos Molins obtains loans
05 December 2019Spain: Cementos Molins has obtained loans from CaixaBank, Sabadell, BBVA, Santander and HSBC to a total value of Euro180m. EuropaPress has reported that the funds, consisting of a loan of Euro40m and a Euro140m revolving credit facility, of which Euro50m will be immediately available, will be used to clear the company’s debt and for future projects. The interest will be Euribor plus 0.9%.
Indian government launches development debt fund
26 November 2019India: The Union Council of India has approved a US$1.4bn distress fund to help developers finish partially completed residential developments. Business Today has suggested that the financing, which prioritises affordable and middle-income housing projects, will bolster demand for cement producers. The launch of the scheme follows India’s decision not to join the Regional Comprehensive Economic Partnership on 4 November 2019, for which it stated reasons of a trade deficit with 11 of the 15 other signatories and the rejection of its proposed three-tier structure for phasing out tariffs.
Solar-powered cement production
20 November 2019Microsoft co-founder Bill Gates entered the world of cement this week with a public relations blitz for Heliogen. He’s one of the backers of a new Californian technology startup looking to use concentrated solar power (CSP) to power heavy industrial processes like clinker or steel production. The company says it has concentrated solar energy commercially to levels above 1000°C.
Its process, called HelioMax, uses a closed-loop control system to improve the accuracy of a heliostat system. It says it achieves this by using computer vision software to better align an array of mirrors to reflect sunlight towards a single target. Temperatures of up to 1500°C is one of its targets so that it can apply itself to a variety of processes in the cement, steel, mining, petrochemical and waste treatment industries. It says it can do this for US$4.5/MCF. Another target once it hits 1500°C is to start manufacturing hydrogen or synthetic gas fuels.
Heliogen’s press release was picked up by the international press, including Global Cement, but it didn’t mention the similar work that SOLPART (Solar-Heated Reactors for Industrials Production of Reactive Particulates) project is doing in France. This project, backed by European Union Horizon 2020 funding, is developing a pilot scale high temperature (950°C) 24hr/day solar process for energy intensive non-metallic minerals’ industries like cement and lime. It’s using a 50kW solar reactor to test a fluidised bed system at the PROMES (PROcédés, Materials and Solar Energy) testing site in Odeillo, France.
Heliogen’s claim that it can beat 1000°C is significant here but it doesn’t go far enough. Clinker production requires temperatures of up to around 1450°C in the sintering phase to form the clumps of clinker. SOLPART has been only testing the calcination stage of clinker production that suits the temperature range it can achieve. Unless Heliogen can use its method to beat 1450°C then it looks likely that it will, similarly, only be able to cut fossil fuel usage in the calcination stage. If either Heliogen or SOLPART manage to do even this at the industrial scale and it is cost effective then the gains would be considerable. As well as cutting CO2 emissions from fossil fuel usage in cement production this would reduce NOx and SOx emissions. It would also cut the fuel bill.
As usual this comes with some caveats. Firstly, it doesn’t touch process emissions from cement production. Decomposing limestone to make calcium oxide releases CO2 all by itself with no fuel. About one third of cement production CO2 emissions arise from fossil fuel usage but the remaining two thirds comes from the process emissions. However, one gain from cutting the amount of fossil fuels used is a more concentrated stream of CO2 in the flue gas. This can potentially reduce the cost of CO2 capture and utilisation. Secondly, concentrated solar power systems are at the mercy of the weather, particularly cloud cover. To cope with this SOLPART has been testing a storage system for hot materials to allow the process to work in a 24-hour industrial production setting.
Looking more broadly, plenty of cement producers have been building and using solar power to supply electricity. Mostly, these are photovoltaic (PV) plants but HeidelbergCement built a CSP plant in Morocco. Notably, PPC Zimbabwe said this week that it was building a solar plant to supply energy to two of its cement plants. It is doing this in order to provide a more reliable source of electricity than the local grid. India’s Birla Corporation has also said that it is buying a solar energy company today. The next step here is to try and run a cement plant kiln using electricity. This is exactly what Cementa, HeidelbergCement’s subsidiary in Sweden, and Vattenfall have been exploring as part of their CemZero project. The pilot study demonstrated that it was technically possible but only competitive compared with ‘other alternatives in order to achieve radical reductions in emissions.’
None of the above presents short or medium-term reasons for the cement industry to switch to solar power in bulk but it clearly deserves more research and, critically, funding. One particular strand to pull out here about using non-fossil fuel powered clinker production systems is that it produces purer process CO2 emissions. Mounting carbon taxes could gradually force cement plants to capture their CO2 but once the various technologies above become sufficiently mature they could bring this about sooner and potentially at a lower cost. In the meantime the more billionaires who take an interest in cement production the better.