CEMEX's corporate venture capital unit (CEMEX Ventures) has invested in clean hydrogen production startup HiiROC.
UK-based HiiROC has developed a technology that uses thermal plasma electrolysis to convert biomethane, flare gas, or natural gas into hydrogen at a lower cost than competing solutions and without a CO2 footprint.
CEMEX says it aims to use the link-up with HiiROC to increase its hydrogen injection capacity across its cement operations while reducing the consumption of fossil fuels. CEMEX has not disclosed the amount it is investing in the startup
HiiROC, founded in 2019, has developed a process that efficiently produces high purity hydrogen and clean carbon black at superior temperatures and pressure. As part of this investment, CEMEX and HiiROC say they aim to increase CEMEX’s hydrogen injection capacity in its cement kilns, allowing for a higher alternative fuel substitution rate of fossil fuels. The initiative is designed to further cut methane emissions and other greenhouse gases downstream, a key objective set at COP26 in Glasgow.
CEMEX has been using hydrogen since 2019 to increase alternative fuel usage and improve thermal efficiency across its cement operations. The building materials provider says this investment represents an important commitment approach that allows the company to continue to scale its hydrogen injection strategy while ramping up the substitution rate of fossil fuels in production kilns.
“HiiROC’s solution is sustainable, scalable, cost-effective, and has strong growth potential inside the hydrogen ecosystem,” said Gonzalo Galindo, head of CEMEX Ventures. “This investment is yet another important step in our transition from fossil to alternative fuels and towards achieving our Net Zero goal for 2050.”
Galindo added: “With hydrogen becoming an increasingly attractive element for industrial decarbonisation, we are excited to be one of the top companies in the cement industry that include a clean hydrogen production startup in its investment portfolio.”
