CEMEX ENTERS GROUNDBREAKING CARBON UTILIZATION AGREEMENT

CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that it has signed an agreement with green fuels producer ETFuels, to transform CO2 from  CEMEX’s Alicante cement plant in Spain into green fuels. This carbon utilization project,  groundbreaking in its scope and potential contribution to European energy security, demonstrates significant progress in testing and scaling technologies that are designed to contribute to accelerating decarbonization efforts in the cement production process.  

Under this agreement, ETFuels will combine up to 450,000 metric tons of captured CO2 annually with green hydrogen to produce more sustainable fuels in the form of green methanol (e-methanol).  CEMEX is evaluating several strategies and partners to perform CO2 capture for this project. 

“Our goal of reaching net-zero CO2 emissions is achievable and will be driven by collaboration and  innovation,” said Fernando A. González, CEO of CEMEX. “Our decarbonization roadmap includes  reducing emissions to the lowest possible level through proven levers such as clinker substitution and  alternative fuels. New levers, such as rapidly developing CCUS initiatives, must effectively tackle the  remaining CO2 emissions to hit our ambitious 2050 objectives.”  

Turning carbon into more sustainable fuels has several potential benefits for the region, including  increased energy security, reduced fossil fuel dependency, job creation, and increased private  investment. The fuel produced through this agreement is intended to be used in the shipping industry, with the goal of further reducing overall carbon emissions in the global supply chain. 

“ETFuels is honored to work with the CEMEX team in our joint ambition for decarbonization of  industry. This pioneering fuel production project combined with Carbon Capture and Utilization presents a scalable way to decarbonize supply chains and aligns fully with our vision to deliver energy  transition at hyperscale with commercially viable solutions,” said Lara Naqushbandi, CEO of ETFuels. 

This initiative is part of a more extensive portfolio of CEMEX Carbon Capture, Utilization, and Storage  (“CCUS”) solutions including permanent storage or use of CO2 from biogenic sources and contributes  to CEMEX’s 2050 net-zero emissions target. CCUS is part of the roadmap for Future in Action,  CEMEX’s sustainability and decarbonization program through which it has achieved record-breaking  progress in reducing its carbon footprint since its launch in 2020.