Zug – The EU Innovation Fund is financing a Holcim decarbonization project in Germany and Poland with 328 million euros. This is intended to accelerate developments by the building materials producer in CO2 capture, utilization and storage.
The European Union Innovation Fund announced on January 19 at its Financing Innovative Clean Tech Conference in Brussels the funding of two Holcim decarbonization projects worth €328 million. According to a media release from the Zug-based global building materials producer, these funds will accelerate “groundbreaking projects” by Holcim on carbon capture utilization and storage (CCUS) in Germany and Poland.
He said these projects are part of Holcim’s Net Zero plan, which includes more than 50 CCUS decarbonization projects worldwide. They reportedly contribute to the EU’s Green Deal, which aims to make its economy carbon-neutral by 2050 through clean technologies.
“We are excited about these investments in our next-generation technologies,” Holcim’s European CEO Miljan Gutovic is quoted as saying. “They help make our CCUS projects more viable and scalable. This can fundamentally change our industry in terms of a net-zero future.”
The EU Innovation Fund is one of the world’s largest funding programs for innovative clean technologies. In 2022, it approved more than 1.8 billion euros for 17 major projects. 138 applications were received. mm