Displaying items by tag: funding
RHI Magnesita leads refractories recycling project
02 September 2022Europe: RHI Magnesita is heading a European Union Horizon project called ReSoURCE. The project seeks to develop a sensor-based refractory waste sorting and powder handling system. It involves academic partners in Austria, Germany, Ireland, Norway and the UK. The European Health and Digital Executive Agency (HADEA) supplied Euro6m in funding for the study, while the UK government supplied Euro1m. Global refractory waste generation is currently 28Mt/yr.
RHI Magnesita chief executive officer Stefan Borgas said “On average, 60% of all spent refractories generated by refractory-consuming industries go to landfill, while only 30% are recycled. With the ReSoURCE project, we aim to increase it up to 75%. This means we can achieve significant savings of CO2 emissions per annum. With this research project, we have the chance to make a difference in the world.”
US government grants US$3.7m in funding for Lehigh Hanson’s Mitchell cement plant’s carbon capture installation
01 September 2022US: Lehigh Hanson has secured US$3.7m-worth of funding from the US department of energy for its planned front-end engineering design (FEED) installation of a carbon capture system at its Mitchell cement plant in Indiana. The funding was part of a total US$31m pot awarded to 10 different carbon capture projects across multiple industries. All of the projects have the capacity to capture over 95% of emissions from their respective plants.
Mitsubishi Heavy Industries America is supplying its carbon capture system for use at the Mitchell cement plant, at a total project cost of US$4.8m.
Lafarge Emirates Cement to install waste heat recovery plant at Fujairah cement plant
18 August 2022UAE: Lafarge Emirates Cement plans to install an organic Rankine cycle (ORC) waste heat recovery (WHR) plant at its Fujairah cement plant. Gulf News has reported that the producer will fund the upgrade through a transition trade facility provided by UK-based bank Standard Chartered. The facility is part of the bank’s planned US$300bn-worth of green finance funding up to 2030.
Lafarge Emirates Cement general manager Olivier Milhaud said “This is one of the major milestones in our journey towards sustainability. The WHR project encourages the use of clean and environmentally friendly energy in our operations and also supports our global mission to build a Net Zero world.”
Siam Cement Group to issue US$426m debenture
11 August 2022Thailand: Siam Cement Group has received approval to issue a new lot of debenture worth US$426m on 3 October 2022. The group says that the debenture replaces its existing lot, which will retire for redemption on 1 October 2022. The new lot has an interest rate of 3.25% and matures on 1 October 2026.
UltraTech Cement raises US$94.6m from commercial papers sale
11 August 2022India: UltraTech Cement has received US$94.6m-worth in commitments on a planned sale of its commercial papers. Reuters News has reported that the papers will reach maturity in November 2022.
China: Anhui Conch Cement and Xinjiang Tianshan Cement plan to launch a joint venture. Reuters News has reported that the companies will inject the joint venture with registered capital of US$297m.
Kesoram Industries to raise funds
26 July 2022India: Kesoram Industries plans to raise fund through high-cost fixed deposits at an annual coupon rate of 12%. The Business Standard newspaper has reported that the producer will use the funds to support its 10.8Mt/yr cement plant network’s working capital requirements.
Holcim Deutschland’s Lägerdorf cement plant to receive oxyfuel kiln and carbon capture system
18 July 2022Germany: Holcim Deutschland announced a planned upgrade to its Lägerdorf cement plant’s kiln on 14 July 2022. The producer will install a second generation oxyfuel kiln, which uses an air separation unit to supply oxygen directly, emitting CO2-rich flue gas. A new carbon capture system will supply captured CO2 to a synthetic hydrocarbons plant, which will produce methanol for other industrial applications. The upgrade will result in the capture of 1.2Mt/yr
of CO2 emissions and make Lägerdorf one of the world’s first carbon neutral cement plants, according to Holcim Deutschland.
The project, called Carbon2Business, was among four cement plant projects and 13 other EU-wide projects to win a share of a US$1.81bn EU Innovation Fund funding pot. CEO Thorsten Hahn acknowledged that the awarding of funds was ‘good news for Holcim and all partners working with us to decarbonise cement.’ He said “Climate change means cement change.”
Bulgaria/Poland: The EU Innovation Fund has awarded funding to Devnya Cement’s ANRAV carbon capture, utilisation and storage (CCUS) project in Bulgaria and Lafarge Polska’s Go4ECOPlanet CCUS project in Poland.
ANRAV is a full-chain CCUS project connecting Devnya Cement’s Devnya cement plant in Varna Province over 30km to the Black Sea for storage. Go4ECOPlanet applies a similar model to the capture and storage of CO2 from Lafarge Polska’s Kujawy cement plant offshore in the North Sea. The Kujawy cement plant is situated 200km inland in Kuyavian-Pomeranian Voivodeship. The plan is part of Lafarge Polska’s strategy to realise carbon neutrality at the Kujawy cement plant by 2027.
Regarding the ANRAV project, Mihail Polendakov, Bulgaria, Greece and Albania managing director at Devnya Cement’s parent company HeidelbergCement said “Our vision in the ANRAV consortium is to realise an economically viable CCUS cluster for Bulgaria and the neighbouring regions.” He continued “Subject to regulatory and permissions aspects, it could start operation as early as 2028, with a capture capacity of 800,000t/yr of CO2.
Australia: Hallett Group plans to establish a slag cement grinding plant in Port Augusta, South Australia. Magnet News has reported the cost of the project as US$83.9m, towards which the producer has received US$13.4m in government funding. The plant will produce cement using South Australian ground granulated blast furnace slag (GGBFS) from Nyrstar’s Port Pirie and Liberty Primary Steel’s Whyalla steel refineries and fly ash from the site of the former Port Augusta power plant. Its operations will be 100% renewably powered. An accompanying new distribution facility at Port Adelaide will ship the cement to markets. The project will create 50 new jobs.
When the Port Augusta grinding plant becomes operational in 2023, its products will reduce regional CO2 emissions by 300,000t/yr, subsequently rising to 1Mt/yr, according to the company’s expansion plans.
Hallett Group chief executive officer Kane Salisbury said "We're talking about 1% of the entire country's 2030 [CO2 reduction] commitment, delivered through this project." Salisbury added "We're looking at turning South Australia into a global leader in manufacturing green cement."