Commercial, Energy Efficiency, GHG Emissions, Finance - January 20, 2023
Holcim Receives EU Funds for Decarbonization Projects
Two Holcim decarbonization projects received funding of EUR 328 million from the European Union (EU) Innovation Fund.
The grants will accelerate the development of the sustainable construction firm's carbon capture utilization and storage (CCUS) projects in Germany and Poland. These projects are part of Holcim’s net-zero roadmap, including over 50 CCUS projects worldwide, to decarbonize its business. The roadmap includes 2030 and 2050 targets validated by the Science Based Target Initiative.
The projects contribute to the EU’s Green Deal, putting clean technologies to work for a climate-neutral economy by 2050.
“As a global leader in building solutions, Holcim is on a mission to decarbonize the building industry,” said Miljan Gutovic, Region Head Europe in a statement. “We are encouraged by these EU Clean Tech investments in our next generation technologies. They contribute to making our CCUS projects more viable and scalable, which can fundamentally change our industry for a net-zero future.”
The European Union Innovation Fund is one of the world's largest funding programs for innovative low-carbon technologies and in 2022 granted more than EUR 1.8 billion to 17 large-scale clean-tech projects out of a pool of 138 submissions.