CEMEX, a Mexican multinational building materials company headquartered in San Pedro, announced that it has signed an agreement with green fuels producer ETFuels, to transform CO2 from CEMEX’s Alicante cement plant in Spain into green fuels. This carbon utilization project, groundbreaking in its scope and potential contribution to European energy security, demonstrates significant progress in testing and scaling technologies that are designed to contribute to accelerating decarbonization efforts in the cement production process.

Under this agreement, ETFuels will combine up to 450,000 metric tons of captured CO2 annually with green hydrogen to produce more sustainable fuels in the form of green methanol (e-methanol). CEMEX is evaluating several strategies and partners to perform CO2 capture for this project.

Turning carbon into more sustainable fuels has several potential benefits for the region, including increased energy security, reduced fossil fuel dependency, job creation, and increased private investment. The fuel produced through this agreement is intended to be used in the shipping industry, with the goal of further reducing overall carbon emissions in the global supply chain.