Cemex Ventures invest in KC8
Cemex looking to become front runners in carbon capture following investment in acclaimed CCUS start-up
CEMEX have announced their most recent investment in front-running carbon-capture start-up KC8 Capture Technologies (KC8), carried out through their corporate venture capital and open innovation unit, Cemex Ventures.
The investment in KC8’s technology has the intention of scaling such technologies to new heights in the largest project of its kind to date for KC8.
KC8, an Australian-based start-up, provide the construction industry with an affordable pathway to reduce greenhouse gas emissions from the use of fossil fuels.
They say traditional solvents used in carbon capture, utilization and storage (CCUS) can present an environmental hazard, but KC8’s value proposition is their own proprietary non-toxic, non-volatile solvent designed to have no impact on the environment.
Moreover, the start-up’s breakthrough technology is designed to allow up to 95% CO2 capture, optimize energy efficiency by 15%, and cut down overall operating costs by 50% for partners in heavy industries, such as Cemex, compared with conventional amine solvents.
Following this initial investment, Cemex seek to test KC8’s technology in a front-end engineering design (FEED) study at one of their key cement plants, with the aim of capturing more than 100 tonnes per day of CO2 – an ambition that is 10 times greater than current project scopes.
‘The path to carbon neutrality is paved by not only sustainable investments, but also active and aggressive clean technology adoption by industry leaders who are producing on a global scale with a considerable impact within construction,’ said Gonzalo Galindo, head of Cemex Ventures.
‘We are thrilled to help promote the growth of KC8 by connecting the start-up to Cemex’s extensive network and resources and to find synergies in order to foster the construction industry revolution.’
Greg Ross, executive director of KC8, said: ‘As a global supplier in carbon-capture technologies, we are very excited to be working with the global Cemex organization in the further development of our technology supporting the cement industry.
‘The support of Cemex Ventures will undoubtedly be a major part of our success and we look forward to further collaboration as we implement larger-scale projects.’
Cemex say this technology has the potential to position them as a leader in carbon capture in the construction industry. It aims to help the company reduce its Scope 1 CO2 emissions to reduce the direct greenhouse gas emissions derived from its production processes.
The investment also bolsters the ambitious climate action goals set out by Cemex’s Future in Action sustainability programme, through its Innovation & Partnerships pillar.
