Decarbonizing Building Industry: EUR 328mln for Holcim’s CCUS Projects
The European Union (EU) Innovation Fund announces funding of EUR 328 million in two Holcim decarbonization projects at the Financing Innovative Clean Tech Conference in Brussels. The grants will accelerate the development of Holcim’s breakthrough 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. They 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. 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,” Miljan Gutovic, Region Head Europe, said.
The European Union Innovation Fund is one of the world’s largest funding programs for innovative low-carbon technologies. In 2022, the Fund granted more than EUR 1.8 billion to 17 large-scale clean-tech projects out of a pool of 138 submissions.
These investments contribute to advancing Holcim’s net-zero roadmap, with 2030 and 2050 targets validated by the Science Based Target Initiative. Decarbonizing building across its lifecycle, Holcim is greening its operations while deploying innovative solutions from ECOPact green concrete to Elevate roofing systems.
Strengthening roofing business
Holcim has just acquired a state-of-the art fiberglass mat facility in Maryland, USA from an affiliate company of Maryland Paper. This transaction expands Holcim’s technology platform for high-performing and durable roofing systems. By integrating fiberglass mat in its business, Holcim will deliver more value for its customers with an enhanced supply chain. This investment supports Holcim’s expansion in the fast-growing USD 45 billion North America roofing market.
“This acquisition is a perfect fit for our building envelope business. Fiberglass mat is a key component in Malarkey’s sustainable shingles and Elevate’s highest performing ISOGARD insulation boards. It enables us to deliver more value for our customers from an innovation, performance, and supply chain perspective. I look forward to welcoming the fiberglass team to our Holcim family to accelerate green growth together,” Jamie Gentoso, Global Head, Solutions & Products, said.
This modern fiberglass mat facility, based near Hagerstown, Maryland, will start by enhancing Malarkey’s range of sustainable and resilient shingles in the US residential roofing market. As of next year, Holcim will further leverage this facility to advance its range of ISOGARD insulation boards, delivering the highest level of energy efficiency in the US commercial roofing market.
This acquisition contributes to Holcim’s ‘Strategy 2025 – Accelerating Green Growth’ with the goal to expand its Solutions & Products business to 30% of Group net sales by 2025, entering the most attractive construction segments, from roofing systems to insulation and renovation.