Cement and building materials producer Holcim announced an investment in Capsol Technologies, a publicly listed Norwegian company specializing in carbon capture solutions, as part of its near-zero cement strategy.
According to Holcim, the investment is intended to expand its portfolio of decarbonization technologies and support profitable growth.
Founded in 2014, Capsol has developed a post-combustion carbon capture and heat recovery system using hot potassium carbonate (HPC) solvent technology to remove CO2 from industrial gas streams, using a process that is widely applicable in post-combustion carbon capture.
Wendy Lam, CEO of Capsol, said:
“Holcim is a leading provider of sustainable construction solutions and one of the largest cement producers in the world. They have bold ambitions of producing near-zero cement at scale for customers. Capsol wants to be part of realizing this ambition.
Cement production is a major source of global greenhouse gas emissions and is considered one of the most difficult industrial sectors to decarbonize. The industry accounts for around 8% of global carbon dioxide emissions, with more than 900 kilograms of CO2 emitted for every 1,000 kilograms of cement produced.
Holcim announced a series of commitments in 2023, including a pledge to invest CHF2 billion (USD$2.2 billion) in carbon capture technologies by 2030, and to capture more than 5 million tons of CO2 per year, in addition to a target to reduce its Scope 1 emissions per ton of cementitious material by over 22% by 2030.
Ram Muthu, Head of Operational Excellence at Holcim, said:
“By combining Holcim’s expertise in cement manufacturing and on-site carbon capture with Capsol’s safe and efficient technology, we gain an additional pathway to advance decarbonization while supporting profitable growth. This strategic investment brings us closer to producing near-zero cement at scale to meet growing customer demand.”
