IFESTOS CCUS project to receive EU commission grant

The EU Commission has selected IFESTOS for grant agreement preparation for the third call for large-scale projects under the EU Innovation Fund. IFESTOS is TITAN Group’s groundbreaking Carbon Capture project in Greece.

Marcel Cobuz, chairman of the Group Executive Committee of TITAN Group, stated: "We are truly excited that the Commission has chosen to support our large-scale, highly innovative project. IFESTOS is a cornerstone of our accelerated decarbonisation roadmap to net-zero. In line with EU climate policy, together with our technology partners, we are pioneering an innovative carbon capture project, the largest in Europe, with a highly positive impact. The group has strong capabilities and is committed to executing this project fast over the next few years, decarbonising production and offering green growth opportunities to our customers in Europe. We embrace the opportunity to widely share our knowledge and expertise and promote green cements as modern materials for infrastructure and housing.”

IFESTOS involves the construction of a large-scale carbon capture facility at TITAN’s flagship Kamari plant near Athens. TITAN will be producing about 3Mta of zero-carbon cement to serve the growing needs for green construction in the metropolitan area of Athens and beyond. Subject to regulation and permits, the carbon capture project will result in an absolute annual GHG emissions avoidance of more than 1.9Mt of CO₂, making the Kamari plant one of the largest carbon capture facilities in Europe. The project is intended to be part of an eco-system of projects to combine carbon capture points with transportation and storage infrastructure. TITAN has already signed MoUs with potential partners and will continue maturing the project.

The EU Innovation Fund is one of the world’s largest funding programmes for the deployment of net-zero and innovative technologies. It aims to bring to the market solutions to decarbonise European industry and support its transition to climate neutrality. In this year’s third call for large-scale projects, in which the EU will invest over EUR3.6bn, IFESTOS was among eight selected projects from 98 applications in its category across Europe.