- CEMEX Ventures joins a select group of leading global investors supporting Synhelion.
- Since 2020, CEMEX and Synhelion began developing an innovative solar-driven technology that aims to eliminate fossil fuels and the carbon footprint in the clinker manufacturing process.
CEMEX, S.A.B. de C.V. (“CEMEX”) and CEMEX Ventures (CEMEX´s corporate venture capital unit) announced today their investment in Synhelion, a pioneer company in solar fuels that are a climate-friendly substitute to fossil fuels, enabling a carbon-free manufacturing process.
This effort, which aims to decarbonize the cement manufacturing process based on solar energy, is part of CEMEX’s roadmap to achieve its ambitious climate action goals, including delivering globally carbon free concrete by 2050. This is one of several initiatives under the company’s Future in Action program, which focuses on reducing the carbon footprint of its operations and products to become a net-zero CO2 company.
Based in Switzerland, Synhelion offers a radically new approach to replace fossil fuels in cement plants with high-temperature solar heat and captures 100% of carbon emissions. The captured emissions are then used as feedstock for fuel production, enabling cement manufacturing to achieve net-zero emissions. This is made possible by the extremely high temperature of solar heat provided by Synhelion’s technology and its pioneering process to turn CO2 into synthetic drop-in fuels, such as kerosene, diesel, and gasoline.
“Synhelion’s technology has enormous potential; not only does it close the fuel carbon cycle, but it also facilitates a carbon-free cement industry. This investment is one more of the great joint activities we manage with the most innovative projects and technologies to decarbonize the industry,” expressed Gonzalo Galindo, Head of CEMEX Ventures.
The investment is part of a funding round led by Swiss KMU Partners, with major backing from Orchilla, and SMS Concast, part of the SMS group, with additional support from CEMEX Ventures, AMAG, and private investors. Synhelion will use the funding to build and operate what should be the world’s first plant capable of producing solar fuels at an industrial scale.
Synhelion is a global pioneer in the field of sustainable solar fuels. The clean energy company evolved from the Swiss Federal Institute of Technology (ETH Zurich) in 2016 to decarbonize transportation. Solar fuels can replace all types of fossil fuels as they are economically viable and fully compatible with existing global infrastructure. Synhelion’s unique technology converts concentrated solar heat into the hottest existing process heat on the market, making it possible to drive an unprecedented number of industrial processes such as fuel production and cement manufacturing with solar heat. The company already works with international partners such as Lufthansa Group, Wood, Eni, CEMEX, and Zurich Airport. For more information, please visit: www.synhelion.com
About CEMEX Ventures
Launched in 2017, CEMEX Ventures focuses on helping to solve the main challenges and capitalize 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 startups, entrepreneurs, universities, and other relevant actors to tackle the industry’s toughest challenges and shape tomorrow’s value ecosystem. For more information about CEMEX Ventures, please visit www.cemexventures.com
CEMEX (NYSE: CX) 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. For more information, please visit: cemex.com
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