CEMEX Committed to Participate in LEILAC 2 Project, Which Aims to Decarbonize Cement Production

Rhea-AI Summary

CEMEX (NYSE: CX) has joined the LEILAC 2 project, a research initiative funded by the EU to decarbonize cement production. Following its active role in LEILAC 1, CEMEX contributes expertise and resources to develop technology that captures process CO₂, which comprises about 60% of cement's direct emissions. The company aims for a 35% reduction in CO₂ emissions per ton by 2030 and a net-zero target by 2050.

Davide Zampini, Head of Global R&D, emphasizes their commitment to impactful technologies in carbon capture.

CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today its participation in the Low Emissions Intensity Lime and Cement 2 (LEILAC 2) project, a research and innovation initiative aimed to decarbonize the cement production process

The LEILAC 2 project is funded by the European Union's Horizon 2020 research and innovation program. The project team comprises leading industrial, technology, and research & development partners.

CEMEX had a very active participation in LEILAC 1, working with the partners to develop the novel direct separation of process carbon emissions derived from the clinker/cement manufacture. The highly concentrated CO₂ resulting from the technology can then be easily handled via capture and/or storage. Process emissions are roughly 60% of the direct CO₂ emissions from cement production. Thus, this technology can contribute significantly to the decarbonization of the whole sector.

CEMEX is enthusiastic and determined to continue its contributions to the project by bringing expertise, experience, and key resources. For example, simulation experts undertook significant modeling of the CO₂ reactor tube to obtain the required capture rate. CEMEX's technical team also tested novel designs for the CO₂ reactor tube, given its deep understanding of the cement production process and how the technology can be implemented most effectively.

CEMEX decided to participate in LEILAC 2 pursuing and contributing to the technology's development utilizing its gasification process's expertise. It is also leveraging its skills in alternative fuel consumption and computational fluid dynamic simulation design, aiming to succeed in the second stage of the LEILAC project.

"Our participation in the LEILAC 2 project is another example of our continued efforts to deliver net-zero CO₂ concrete products globally by 2050," said Davide Zampini, Head of Global R&D. "We are determined to have a significant direct involvement in research and development efforts pursuing high impact technologies in carbon capture, use, and storage."

CEMEX announced in 2020 its Climate Action strategy, defining a global target of a 35% reduction of CO₂ emissions per ton of cementitious products by 2030. For its operations in Europe, CEMEX also defined a 55% reduction target, in line with what the European Commission set as a new goal for all its member states. To complement this strategy with a longer-term vision, CEMEX also established an ambition to deliver net-zero CO₂ concrete to all its customers globally by 2050.

CEMEX is a global building materials company that provides high-quality products and reliable services. CEMEX has a rich history of improving the well-being of those it serves through innovative building solutions, efficiency advancements, and efforts to promote a sustainable future. For more information, please visit: www.cemex.com

CEMEX assumes no obligation to update or correct the information contained in this press release. This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.

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FAQ

What is the LEILAC 2 project that CEMEX is participating in?

The LEILAC 2 project is a research initiative aimed at decarbonizing cement production, funded by the EU's Horizon 2020 program.

What percentage of CO2 emissions does CEMEX aim to reduce by 2030?

CEMEX aims to reduce CO2 emissions per ton of cementitious products by 35% by 2030.

What is CEMEX's long-term goal for CO2 emissions?

CEMEX's long-term goal is to achieve net-zero CO2 concrete products globally by 2050.

How much CO2 emissions are related to cement production processing?

Process emissions account for roughly 60% of the direct CO2 emissions from cement production.

Who is the head of R&D at CEMEX?

Davide Zampini is the Head of Global R&D at CEMEX.