Cemex announced on July 9th its most recent investment in frontrunning carbon capture startup, KC8 Capture Technologies (KC8), carried out through its corporate venture capital and open innovation unit, Cemex Ventures. This investment in KC8’s technology has the intention of scaling such technologies to new heights in the largest project of its kind to date for KC8.
KC8, which is an Australian-based startup, provides the construction industry with an affordable pathway to reduce greenhouse gas emissions from the use of fossil fuels.
Traditional solvents used in Carbon Capture, Utilization and Storage (CCUS) rely on solvents that can present an environmental hazard, but KC8’s value proposition is their proprietary non-toxic, non-volatile solvent designed to have no impact on the environment. Moreover, the startup’s breakthrough technology is designed to enable up to 95% CO2 capture, optimize energy efficiency by 15%, and cut down overall operating costs by 50% for partners in heavy industries, such as Cemex, in comparison to conventional amine solvents.
Following this initial investment, Cemex seeks to test KC8’s technology in a Front-End Engineering Design (FEED) study at one of its leading cement plants with the aim to capture more than 100 tons per day (TDP) of CO2, an ambition that is 10 times greater than current project scopes.
“The path to carbon neutrality is paved by not only sustainable investments, but also active and aggressive clean technology adoption by industry leaders who are producing on a global scale with a considerable impact within construction”, said Gonzalo Galindo, Head of Cemex Ventures. “We are thrilled to help promote the growth of KC8 by connecting the startup to Cemex’s extensive network and resources and to find synergies in order to foster the construction industry revolution.”
“As a global supplier in carbon capture technologies, we are very excited to be working with the global Cemex organization in the further development of our technology supporting the cement industry,” said Greg Ross, Executive Director. “The support of Cemex Ventures will undoubtedly be a major part of our success and we look forward to further collaboration as we implement larger scale projects.”
This technology has the potential to position Cemex as a leader in carbon capture in the construction industry. It aims to help Cemex reduce its Scope 1 CO2 emissions to reduce the direct greenhouse gas emissions derived from its production processes. This investment bolsters the ambitions climate action goals set out by Cemex’s sustainability program, Future in Action, through its Innovation & Partnerships pillar.
About KC8 Capture Technologies
KC8 Capture Technologies Ltd (www.kc8capture.com) is a process licensing company developing carbon capture technologies. KC8 is an Australian based and operates inMelbourne, Perth and now has an office in the USA. The company has developed carbon capture technologies which are currently going into a commercial demonstration phase in both cement kiln flue gas and gas turbine flue gas. Through research and development, it controls 11 patent families with over 40 awarded international patents and many more pending.
Meet Cemex Ventures on October 10-11 at the upcoming CarbonZero Global Conference and Exhibition 2024, a leading cement and construction event welcoming over 100 C+executives all over the world for innovation and sustainable solutions for alternative fuels and raw materials. Registration and details are available at contact@industrylink.eu.
