Hoffmann Green Cement Technologies (HGCT) is launching its initial public offering (IPO) 2 October. The company plans to raise around EUR50m on the Euronext Growth market.

HGCT’s cement production process reduces CO2 emissions by 80 per cent due to a modification of the composition of the cement that eliminates the need for clinker, according to the company.

The France-based cement producer aims to increase its cement capacity by a factor of 11 to 0.55Mta by 2024. The IPO will provide the funds for the industrial and commercial expansion of the company as it intends to build two new 0.25Mta plants in Vendée and the Paris region. By 2024 it expects to achieve a turnover of EUR120m and a gross operating profit margin of around 40 per cent.