EU will Fund Holcim Decarbonisation Projects
At a conference in Brussels, the EU Innovation Fund announced funding of EUR 328 million for two decarbonisation projects at Holcim, a building material company. The funding will be used to develop clean technology solutions to reduce the carbon emissions of the cement industry.
The proceeds will be used to accelerate the development of Holcim's carbon capture utilisation and storage (CCUS) projects in Germany and Poland. These projects are part of Holcim's plan to decarbonise its business and reach net-zero emissions. They will also help the EU reach its Green Deal goals of making a climate-neutral economy by 2050. The grants will support the development of over 50 CCUS projects worldwide to reduce the carbon emissions of the cement industry.
Miljan Gutovic, Region Head Europe: “As a global leader in building solutions, Holcim is on a mission to decarbonise the building industry. These EU Clean Tech investments in our next-generation technologies inspire us. They contribute to making our CCUS projects more viable and scalable, which can fundamentally change our industry for a net-zero future.”
The EU Innovation Fund is a significant funding programme for low-carbon technologies, and in 2022, it granted over EUR 1.8 billion to 17 large-scale clean-tech projects out of a pool of 138 submissions. The funding for Holcim's CCUS projects in Germany and Poland is part of this programme and contributes to the company's efforts to reach net-zero emissions by decarbonising its business.
Holcim's net-zero targets for 2030 and 2050 have been validated by the Science Based Target initiative. The company is working on decarbonising buildings across its lifecycle by greening its operations and deploying innovative solutions such as ECOPact green concrete and Elevate roofing systems.