CEMEX enters groundbreaking carbon utilization agreement with ETFuels
CEMEX, S.A.B. de C.V. (“CEMEX”) announced that it has signed an agreement with green fuels producer ETFuels, to transform CO2 from CEMEX’s Alicante cement plant in Spain into green fuels.
This carbon utilization project, groundbreaking in its scope and potential contribution to European energy security, demonstrates significant progress in testing and scaling technologies that are designed to contribute to accelerating decarbonization efforts in the cement production process.
Under this agreement, ETFuels will combine up to 450,000 metric tons of captured CO2 annually with green hydrogen to produce more sustainable fuels in the form of green methanol (e-methanol). CEMEX is evaluating several strategies and partners to perform CO2 capture for this project.
“Our goal of reaching net-zero CO2 emissions is achievable and will be driven by collaboration and innovation,” said Fernando A. González, CEO of CEMEX. “Our decarbonization roadmap includes reducing emissions to the lowest possible level through proven levers such as clinker substitution and alternative fuels. New levers, such as rapidly developing CCUS initiatives, must effectively tackle the remaining CO2 emissions to hit our ambitious 2050 objectives.”
“ETFuels is honored to work with the CEMEX team in our joint ambition for decarbonization of industry. This pioneering fuel production project combined with Carbon Capture and Utilization presents a scalable way to decarbonize supply chains and aligns fully with our vision to deliver energy transition at hyperscale with commercially viable solutions,” said Lara Naqushbandi, CEO of ETFuels.
The fuel produced through this agreement is intended to be used in the shipping industry, with the goal of further reducing overall carbon emissions in the global supply chain.
This initiative is part of a more extensive portfolio of CEMEX Carbon Capture, Utilization, and Storage (“CCUS”) solutions including permanent storage or use of CO2 from biogenic sources and contributes to CEMEX’s 2050 net-zero emissions target.