Cement News tagged under: investment
Cool Planet raises EUR23.7m capital to accelerate deployment of low-cost carbon capture solution23 October 2024, Published under Cement NewsCool Planet Technologies Ltd announced it raised EUR23.7m (US$25.6m) in a Series A2 funding round, led by Taranis Carbon Ventures. Other investors were CRH Ventures and BlueScopeX, along with existing investors Eni Next, NEVA SGR and Audacy Ventures. The funding will advance Cool Planet’s ambition of becoming a leading provider of highly efficient point source carbon capture solutions for industrial emissions and will also enable the company to complete the demonstration of its technology ... |
Holcim invests in Sublime Systems in low-carbon tech scale-up19 September 2024, Published under Cement NewsHolcim has invested in Sublime Systems, a leading low-carbon cement technology start-up, to expand its range of highly-engineered solutions to decarbonise building at scale, according to a Holcim statement. The partnership will advance Sublime’s first commercial manufacturing facility in Massachusetts, USA, giving Holcim a large share of Sublime Cement™ produced there through a binding off-take reservation. The two partners have established a dedicated project team to co-develop further fa... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
Cemex invests in KC8 Capture Technologies09 July 2024, Published under Cement NewsCemex has announced its latest investment in the carbon capture start-up KC8 Capture Technologies (KC8) through its venture capital and open innovation unit, Cemex Ventures. The investment aims to scale KC8's carbon capture technologies in a major project. KC8, based in Australia, offers an affordable method for reducing greenhouse gas emissions with its proprietary non-toxic, non-volatile solvent for carbon capture, utilisation and storage (CCUS). This technology promises up to 95 per ... |
India Cements announces capex plans30 May 2024, Published under Cement NewsIndia Cements plans to spend around INR7000m (US$84m) on capex over the next two years, primarily to improve operational efficiency, according to BusinessLine Online. Among its improvement initiatives, the company is installing a new 8MW waste heat recovery system at its Chilamkuru plant in the Kadapa district of Andhra Pradesh. Its Sankarnagar works at Tirunelveli in Tamil Nadu will receive a crusher, while its Dalavoi facility at Ariyalur in Tamil Nadu and the Banswara plant in ... |
Gautam Adani raises stake in Ambuja Cements18 April 2024, Published under Cement NewsGautam Adani and his family have made a further investment in Ambuja Cements . Injecting another INR83,390m (US$998.3m) into the business has increased their stake in the cement producer to 70.3 per cent. This follows a previous injection of funds on 28 March this year, raising their stake to 66.7 per cent. According to The Telegraph, this latest investment will help Ambuja accelerate its growth plans which aim to double its cement production capacity from 76.1Mta, as at the end of 202... |
Holcim Philippines invests US$35m in renewable energy18 April 2024, Published under Cement NewsHolcim Philippines has announced plans to spend PHP2bn (US$35m) over the next three years on co-processing and increasing its use of renewable energy. According to the company, the funds will be spread across its four plants in Bulacan , La Union , Davao and Lugait . Bulacan and La Union will receive the investment this year, with Davao and Lugait receiving the investment in the following year, reports The Philippine Star. The investments are intended to support activities such a... |
UltraTech announces two new greenfield plants03 April 2024, Published under Cement NewsUltraTech Cement is investing INR324,000m (US$3.89bn) in capex over the next three years, including two new greenfield plants, which will add an additional 5.4Mta in cement production capacity. The two facilities will be located in Chhattisgarh and Tamil Nadu, taking the company’s total cement capacity to 151.6Mta. According to the company, this capacity is equivalent to more than 150 per cent of the capacity in the USA and 80 per cent of the capacity in Europe. It has taken 36 years f... |
Northern Region Cement signs US$44m Iraq partnership04 January 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co has signed a partnership agreement with Al-Diyar Al-Iraqia for Investments Co which sees the Iraqi company acquire 49 per cent of Northern Region Cement’s Iraqi investments. The deal is valued at US$43.95m and proceeds will be used to inject external investments in promising opportunities and repay a portion of the high-cost loans amid high financing costs, according to a bourse disclosure. The agreement will enable Northern Region Cement to... |
US Department of Energy invests US$46m in carbon capture projects21 December 2023, Published under Cement NewsThe US Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) has announced US$45.6m in federal funding for nine projects that will advance CO 2 capture technologies and help establish the foundation for a successful carbon transport and storage industry in the US. Large-scale deployment of carbon capture, transportation, and storage infrastructure is crucial to meeting the Administration’s ambitious climate goal of achieving a net-zero emissions economy by 2050, ... |