CEMEX invests in Waste to Energy Advanced Solutions
CEMEX, S.A.B. de C.V. and CEMEX Ventures, CEMEX’s corporate venture capital unit, announced their investment in Waste to Energy Advanced Solutions, a clean energy start-up that has developed a novel process to transform solid waste into synthesis gas for industrial purposes.
Waste to Energy converts biomass and non-recyclable waste into a lower-carbon energy solution, which can be used in the short term as a fossil fuel alternative or be upgraded in the medium and long term to gases such as biomethane or pure hydrogen. CEMEX intends to incorporate this clean energy source into its clinker and cement manufacturing process, looking to further reduce the carbon footprint of its operations. CEMEX aims to increase its fossil fuel substitution rate by 20 percentage points by 2030.
“This investment aligns with our strategy to find innovative clean fuel and energy sources for the cement industry,” said Gonzalo Galindo, Head of CEMEX Ventures. “We have outlined an ambitious rollout strategy across multiple operations, starting with Spain and other European countries before expanding to other international markets”.
This investment is part of CEMEX’s Future in Action program to build a more sustainable, circular future, with the primary objective of becoming a net-zero CO2 company. Since the launch of Future in Action, the company has achieved record-breaking CO2 reductions. Innovation is a key component of the program.
Alternative fuels are an important lever of CEMEX’s ambitious 2030 decarbonization roadmap, which has been validated by the Science-Based Targets initiative for alignment under their new 1.5ºc scenario, the most ambitious pathway defined for the industry. One of the main levers for achieving its targets is using alternative fuels with high biomass content.
Waste to Energy Advanced Solutions
Waste to Energy Advanced Solutions was born in 2017 thanks to 20 years of experience of its founder Andrés Ponce on gasification, biofuels and clean energy generation (thermal and electric). In 2019, Antonio Crous joins the project as co-founder, to scale the business commercially and develop the implementation of technology within strategic industries and sectors.
Waste to Energy has developed a unique cleantech technology, with a wide know-how and large number of projects behind it, impossible to find in the gasification and waste to energy market. Both founders have extensive experience in both the technical and business aspects, accompanied by a large team of engineers and experts in gasification plants.
CEMEX is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development.
CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies.
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalising on the opportunity areas in the construction ecosystem through sustainable solutions.
CEMEX Ventures has created an open and collaborative platform to lead the revolution of the construction industry by engaging start-ups, entrepreneurs, universities, and other relevant actors to tackle the industry’s toughest challenges and shape tomorrow’s value ecosystem.