Latest news with #EUInnovationFund
Yahoo
19-05-2025
- Business
- Yahoo
Bolder Industries Signs Landmark Agreement with European Commission, Accelerating Europe's Circular Revolution with New Facility in Antwerp
With grant support from the EU Innovation Fund, Bolder's planned Antwerp facility will help redefine sustainable tire manufacturing at an unprecedented scale Bolder Industries Belgium Aerial Rendering Bolder Industries Belgium Aerial Rendering ANTWERP, Belgium and BOULDER, Colo., May 19, 2025 (GLOBE NEWSWIRE) -- Bolder Industries Belgium, an affiliate of US-based Bolder Industries, LLC, the circular solutions provider for the rubber, plastics, and petrochemical industries, formally signed a landmark €32 million grant agreement with the European Commission's EU Innovation Fund, one of the world's largest funding programs supporting the deployment of innovative, low-carbon technologies at scale. The grant award was confirmed following rigorous due diligence by the EU Innovation Fund and will support the construction of Bolder's new, state-of-the-art facility in Antwerp, Belgium. This milestone further solidifies Bolder's position as a global leader in circular economy solutions and supports the company's continued expansion following a transformative growth investment by Tiger Infrastructure Partners earlier in the year. Bolder's next-generation, 55,152-square-meter facility will be strategically located at the Port of Antwerp and will feature four proprietary reactors and a cutting-edge finishing line capable of processing over 6 million end-of-life tires annually to produce the company's flagship sustainable raw materials, BolderBlack™ and BolderOil™. The new facility will have an installed capacity to produce nearly 18,000 metric tons (MT) annually of BolderBlack, its widely validated alternative to virgin carbon black used in more than 3,000 commercial products, offering significant carbon footprint reductions. It will also produce nearly 21,000 MT of BolderOil, its sustainable liquid resource that replaces traditional fossil-based oils in petrochemical applications, contributing to a circular economy in diverse industries. Bolder's circular process delivers more than an 80% reduction in greenhouse gas emissions compared to traditional production methods. Bolder's products serve global tire manufacturers as well as petrochemical and renewable fuel companies, including the Netherlands-based industrial conglomerate, Profiltra. Profiltra CEO Patrick Cobussen highlighted the importance of sustainable raw materials, adding, 'Environmental responsibility is at the core of our values. Our partnership with Bolder Industries is a direct response to the increasing demand from our customers for sustainable options. Bolder's circular materials enable us to meet this demand while upholding our commitment to quality and performance.' Construction of the Port of Antwerp facility is slated to begin in 2026, with full operational capacity projected in Q2 2027. Powered by renewable energy, including wind and recovered heat, the project embodies bold environmental stewardship. The project also represents a substantial investment in Flanders that is expected to create at least 50 new jobs in the region. This is only the first phase of Bolder's plan in Antwerp, with future expansion expected to more than double the facility's capacity. 'Tiger Infrastructure has a proven track record of helping US infrastructure platforms like Bolder expand into Europe, and vice versa', said Emil W. Henry, Jr., CEO and CIO of Tiger Infrastructure Partners. 'We are excited to support Bolder's growth by investing our capital to construct new circular economy projects like Antwerp in both the US and Europe in collaboration with key customers and funding sources like the EU Innovation Fund.' About Bolder IndustriesBolder Industries delivers traceable, mass-balanced circular solutions for the rubber, plastics, and petrochemical sectors by converting end-of-life tires into sustainable, high-performance materials. Its proprietary process produces ISCC PLUS certified BolderBlack® and BolderOil™, reducing emissions and resource use by up to 85% compared to traditional methods. Backed by Tiger Infrastructure Partners, Bolder is scaling its global footprint to meet the growing demand for circular manufacturing. Leading brands use Bolder's products across the automotive, construction, and consumer goods sectors. The company is ISO 9001 certified and holds a Silver EcoVadis rating. Visit to learn more. About Tiger Infrastructure Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger Infrastructure's value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger Infrastructure believes strong tailwinds are driving demand for new infrastructure. Tiger Infrastructure maintains offices in New York and London. MEDIA CONTACTKim PetersonPR for Bolder 316-4517 Photos accompanying this announcement are available at in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
Cemex showcases significant operational and sustainability advancements in its 2024 Integrated Report
MONTERREY, Mexico, March 25, 2025--(BUSINESS WIRE)--Cemex presented its 2024 Integrated Report, titled Our Future in Action: Accelerating a Sustainable World, showcasing its operational and strategic performance in 2024. The year 2024 was marked by solid financial results, the recovery of Cemex's investment-grade rating, and progress in its decarbonization agenda in alignment with Cemex's 2030 targets. In 2024, Cemex achieved the second-strongest sales and Operating EBITDA in its recent history, alongside the highest free cash flow after maintenance capital expenditures since 2017. The company also made significant progress on its decarbonization targets through its Future in Action program, continuing to lead the industry in profitable decarbonization efforts. "Our global team's focused and committed efforts have advanced a business model with sustainable attributes, seeking to ensure both environmental progress and long-term value creation for Cemex," said Fernando A. González, CEO of Cemex. "This year's report demonstrates strategic progress in executing our growth strategy, reinforces our commitment to our Future in Action program, and underscores the power of going beyond traditional social responsibility to support our climate action goals." Some of the main accomplishments presented in Cemex's 2024 Integrated Report are: Financial: Regained an investment-grade rating by Standard & Poor's and Fitch. Reached US$939 million in net income, a record level in Cemex's recent history. Announced a progressive shareholder dividend program. Future in Action: Since 2020, Cemex has reduced cement Scope 1- and 2-specific CO2 emissions by 15% and 18% respectively — a pace that would have previously taken 16 years to achieve.1 2 Vertua products accounted for 63% of total cement sales and 55% of total concrete sales, exceeding our 2025 sales goal of 50%. Awarded a €157 million EU Innovation Fund grant for CO2 capture at Cemex's Rüdersdorf plant in Germany, which is expected to become our first net-zero plant. Ranked #1 by the World Benchmarking Alliance among 91 companies in hard-to-abate industries, including steel and aluminum, achieving the highest climate transition score. Stakeholder Engagement: Achieved a Net Promoter Score of 74, surpassing the industry customer loyalty benchmark. Launched the Cemex Go Acceleration Program in the U.S., resulting in a 60% increase in order adoption rates. Named to the Fortune Change the World List for the fourth year, recognizing our stakeholder engagement. To read Cemex's 2024 Integrated Report, please visit: 1 Compared to our 2020 baseline.2 Like-for-like, excluding discontinued operations. About Cemex Cemex 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 help 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: Except as the context otherwise may require, references in this press release to "Cemex," "we," "us," or "our," refer to Cemex, S.A.B. de C.V. and its consolidated subsidiaries. This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Cemex intends these forward-looking statements to be covered by the "safe harbor" provisions for forward-looking statements in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Cemex's current expectations and projections about future events based on Cemex's knowledge of present facts and circumstances and assumptions about future events, as well as Cemex's current plans based on such facts and circumstances, unless otherwise indicated. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex's expectations, including, among others, risks, uncertainties, assumptions, and other important factors discussed in Cemex's most recent annual report and detailed from time to time in Cemex's other filings with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex's expectations and/or expected results not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. The forward-looking statements and the information contained in this press release are made and stated as of the dates specified in this press release and are subject to change without notice, and except to the extent legally required, we expressly disclaim any obligation or undertaking to update or correct this press release or revise any forward-looking statements contained herein, whether to reflect new information, the occurrence of anticipated or unanticipated future events or circumstances, any change in our expectations regarding those forward-looking statements, any change in events, conditions, or circumstances on which any statement is based, or otherwise. Any or all of Cemex's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice. All references to prices in this press release refer to Cemex's prices for Cemex products and services. Unless otherwise specified, all references to records are internal records This press release and the documents referred to herein include certain non-International Financial Reporting Standards ("IFRS") financial measures that differ from financial information presented by Cemex in accordance with IFRS in its financial statements and reports containing financial information. The aforementioned non-IFRS financial measures include "Operating EBITDA (operating earnings before other expenses, net plus depreciation and amortization)" and "Operating EBITDA Margin". The closest IFRS financial measure to Operating EBITDA is "Operating earnings before other expenses, net", as Operating EBITDA adds depreciation and amortization to the IFRS financial measure. Our Operating EBITDA Margin is calculated by dividing our Operating EBITDA for the period by our revenues as reported in our financial statements. We believe there is no close IFRS financial measure to compare Operating EBITDA Margin. These non-IFRS financial measures are designed to complement and should not be considered superior to financial measures calculated in accordance with IFRS. Although Operating EBITDA and Operating EBITDA Margin are not measures of operating performance, an alternative to cash flows or a measure of financial position under IFRS, Operating EBITDA is the financial measure used by Cemex's management to review operating performance and profitability, for decision-making purposes and to allocate resources. Moreover, our Operating EBITDA is a measure used by Cemex's creditors to review our ability to internally fund capital expenditures, service or incur debt and comply with financial covenants under our financing agreements. Furthermore, Cemex's management regularly reviews our Operating EBITDA Margin by reportable segment and on a consolidated basis as a measure of performance and profitability. These non-IFRS financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. Non-IFRS financial measures presented in the reports, presentations, and documents to be disclosed during Cemex's fourth quarter 2024 results conference call and audio webcast presentation are being provided for informative purposes only and shall not be construed as investment, financial, or other advice. There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a "green", "social", or "sustainable" or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as "green" "social", or "sustainable" or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as "green", "social", or "sustainable" or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time. View source version on Contacts Analyst and Investor Relations - New YorkBlake Haider+1 (212) 317-6011ir@ Analyst and Investor Relations - MonterreyPatricio Treviño Garza+52 (81) 8888-4327ir@ Media RelationsJorge Pérez+52 (81)
Reuters
17-03-2025
- Business
- Reuters
EU support could help Northvolt attract new owner, Sweden says
BRUSSELS, March 17 (Reuters) - The European Union should amend its clean-tech funding rules to allow bankrupt Swedish battery cell maker Northvolt to access support that could help it attract a potential new owner, Sweden's deputy prime minister told Reuters on Monday. Electric vehicle battery maker Northvolt said last week it had filed for bankruptcy, opens new tab in Sweden, marking one of the country's largest corporate failures and upending Europe's best hope of developing a rival to challenge China. Ebba Busch said she had urged Brussels to expand the recipients able to receive EU funding for clean tech projects, so that existing battery makers, such as Northvolt, would be eligible. Busch was speaking after a meeting with European Commission industry chief Stephane Sejourne in Brussels, where they discussed the matter. "It's time to go from words to action and actually decide on that money during this spring," Busch said in an interview. Busch said such support could be "crucial" in helping to ensure Northvolt "could be a company that survives this tough insolvency period with a new incoming owner". "A new incoming owner is also looking to see what will the terms and the possibilities of a viable competitive situation be for Northvolt in the European market." The European Commission did not immediately respond to a request for comment. The Commission last month said it would commit 6 billion euros ($6.55 billion) for clean industries, including battery manufacturing, from the EU Innovation Fund - a pot of money currently earmarked for highly innovative projects, rather than existing technologies. "If the EU Commission keeps on only supporting newcomers within the battery sector, then the 'clean industrial deal' on European soil will be in the hands of China," Busch said, referring to Europe's heavy reliance on imports of key green technologies from China. ($1 = 0.9158 euros)
