Investment in energy efficiency at CEMEX UK

Company working with Foresight Group on energy-efficiency and fuel-switching projects at 10 sites

CEMEX UK and Foresight Group are working together to reduce carbon emissions and make a number of CEMEX sites more energy efficient.

Foresight Group are providing investment up to £4.5 million through Industrial Efficiency II Ltd, a company focused on the provision of large-scale energy-efficiency improvements and energy cost reductions to commercial customers.

This new investment by Industrial Efficiency II follows a successful deal in 2013 which focused on CEMEX UK’s asphalt plant in Lincoln.

Martin Hills, energy manager at CEMEX UK, said: ‘We are committed to driving sustainability throughout our operations. The projects that will be enabled by this investment will reduce carbon emissions whilst minimizing rising energy costs at 10 of our sites.’

The current investment will involve fuel-switching solutions at the 10 CEMEX sites and is projected to deliver more than 7,500 tonnes of CO2 savings per annum once fully operational.

Matt Smith, director at Foresight, said: ‘This investment is the follow-on to our pilot of the solution at one of CEMEX’s plants, which is performing well, and takes the total amount invested in projects with CEMEX to approximately £5 million.

‘We have funds to deploy in the energy-efficiency market and look forward to closing similar innovative deals in the future, using the structuring developed on this transaction.’

As part of this project, Foresight have successfully worked with Decarbon Capital, a specialist energy-efficiency investment company to provide an attractive solution for CEMEX.