The Mexican cement giant cemex announced on Thursday that it has signed an agreement with the company ETFuels to transform the CO2 from its cement plant in eastern Spain in green fuels.
Under the agreement, E.T.Fuels will combine up to 450,000 metric tons of CO2, captured annually at a facility in Alicante, with green hydrogen to produce more sustainable fuels in the form of green methanol (e-methanol), the Mexican firm said in a statement sent to the stock market.
Cemex reported that it plans to use the fuel resulting from the process for the maritime transport industry, “with the goal of further reducing the total carbon emissions in the global supply chain.
One of the objectives of the plan is to increase energy security in Europe, the company added, amid the damage caused to the old continent by the Russian invasion of Ukraine last year in terms of energy.
