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CEMEX to Operate Fully on Alternative Fuels at UK Cement Plant
Rhea-AI Impact
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Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
CEMEX has inaugurated its Climafuel facility at the Rugby cement plant in the UK, a key investment aimed at eliminating fossil fuel usage and transitioning to 100% alternative fuels. This facility is projected to save carbon emissions equivalent to over 135,000 cars annually. CEMEX leads with a goal of 55% emissions reduction in Europe by 2030, and is on track for a 40% reduction this year. The investment aligns with the company’s Future in Action strategy to achieve net-zero CO2 concrete by 2050.
Positive
Inauguration of Climafuel facility to eliminate fossil fuel usage at Rugby plant.
Projected carbon savings equivalent to emissions from 135,000 cars annually.
Leading industry goal of 55% emissions reduction in Europe by 2030.
On track for a 40% reduction in European operations this year.
Negative
None.
CEMEX completes significant investment in new alternative fuel facility at its Rugby cement plant.
Investment aims to eliminate fossil fuel usage at the Rugby cement plant and allow to operate on 100% alternative fuels.
New facility is expected to produce carbon saving equivalent to the annual emissions of more than 135,000 cars.
CEMEX leads the industry with an emissions reduction target of 55% in Europe by 2030.
CEMEX is on track to achieve a 40% emissions reduction in its European operations this year.
MONTERREY, Mexico--(BUSINESS WIRE)--
CEMEX, S.A.B. de C.V. (“CEMEX”) announced today the inauguration of its new Climafuel facility at its Rugby cement plant in the UK. This significant investment aims to allow the plant to eliminate the usage of fossil fuels, operating 100% on alternative fuels. Rugby is the first CEMEX plant to achieve this important milestone. Climafuel is a waste derived fuel which is made using household residual and commercial waste that would otherwise go to landfills. This is another major milestone in CEMEX’s global Future in Action decarbonization strategy.
The new Climafuel facility at the CEMEX Rugby cement plant in the UK. (Photo: Business Wire)
CEMEX in Europe leads the industry in its decarbonization efforts. By the end of 2022, CEMEX is expected to achieve a 40% reduction in carbon emissions in Europe, well on the way to its target of a 55% reduction by 2030, a target aligned to the European Union’s decarbonization goal. With the investment at Rugby’s plant, CEMEX in Europe expects to process the equivalent annual residues of a city the size of Madrid or Berlin and is expected to achieve 70% alternative fuel substitution in the region this year.
CEMEX’s CEO, Fernando A. González, visited the Rugby plant and highlighted the success of the Climafuel investment. “I am proud of CEMEX Europe’s continued leadership in our carbon action strategy. It serves as the model for the rest of our regions. I expect CEMEX to continue leading the way in our decarbonization journey. This effort is not only the way to build a better future for the communities in which we operate and society at large but it is also the right thing for the future of the company. I look forward to continued progress on our Future in Action strategy from all of our regions.”
Reducing the use of fossil fuels at its cement plants is key to CEMEX’s efforts to decarbonize operations as part of its Future in Action strategy and global ambition of delivering net-zero CO2 concrete by 2050.
“With the completion of this considerable development, we have set new records in alternative fuel substitution, the highest of any of our plants and eventually expect to phase out completely the usage of fossil fuels at the plant. We expect the Rugby plant to be a model for other CEMEX cement plants around the world,” said Sergio Menéndez, President of CEMEX Europe, Middle East, Africa & Asia.
“CEMEX's investment into a new Climafuel facility at its Rugby Cement Plant is a significant milestone in the company's ambitions to decarbonize. With the Government’s commitment to reach net-zero by 2050, it's important we support the adoption of alternative fuels and the development of new, climate-friendly technologies to help companies such as CEMEX move to a cleaner, greener future,” said the UK Minister for Investment, Lord Grimstone.
CEMEX (NYSE: CX) is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: www.cemex.com
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. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release, nor for any third-party quotes cited herein.
