Cemex Ventures Invests More in Transformational Zero-Emission Hydrogen Startup

Cemex Ventures, the corporate venture capital (CVC) and open innovation unit of Cemex, has increased its investment in HiiROC, a startup pioneering a proprietary process for low-cost, zero-emission hydrogen production. This move is significant given the growing importance of hydrogen as an energy solution, particularly within the construction and cement sectors, where its use can substantially diminish dependence on fossil fuels and mitigate CO2 emissions through an innovative approach.

Established in 2019, HiiROC, a UK-based startup, distinguishes itself by generating cost-competitive, zero-emission hydrogen through its exclusive thermal plasma electrolysis process. While hydrogen is gaining prominence as an alternative energy source and feedstock for various industrial processes, existing solutions often pose challenges of high emissions or elevated costs. In contrast, HiiROC's technology sets itself apart by producing high-grade hydrogen with significantly lower energy consumption compared to traditional water electrolysis. Moreover, it eliminates the need for resource-intensive carbon capture, utilization, and storage (CCUS) methods required for traditional steam methane reforming. Notably, HiiROC's production units are modular and scalable, require no water, and introduce carbon black—a co-product of the hydrogen production process—as an additional avenue for further decarbonizing heavy industries.

Gonzalo Galindo, Head of Cemex Ventures, emphasized the timeliness of this development, aligning with the critical discussions at COP28 that underscore the global commitment to address climate challenges. Galindo emphasized Cemex Ventures' dedication to leading the charge in hydrogen usage within the cement sector. He expressed pride in being at the forefront of hydrogen adoption and reiterated the commitment to exploring innovative approaches to deploy hydrogen on a large scale across Cemex's extensive network of 60 cement and grinding plants.

Cemex's initial investment in HiiROC dates back to 2022 through its corporate venture capital arm. The company envisions extensive deployment of HiiROC's thermal plasma technology to curtail fossil fuel consumption and contribute to the decarbonization of its operations. In the strategic partnership, Cemex plans to bolster its hydrogen injection capacity at the critical cement plant in Rugby, United Kingdom, with a long-term goal of gradually implementing HiiROC's technology across its operations in the Europe, Middle East, and Africa (EMEA) region.

Given that one of Cemex's primary products, ready-mix concrete, is the most widely used man-made material globally, the company recognizes its pivotal role in shaping societies and the built environment. Cemex is steadfast in its commitment to climate change mitigation and reducing CO2 emissions. By investing in sustainable solutions and partnering with pioneering startups like HiiROC, Cemex aims to achieve its ambition of becoming a net-zero CO2 company by 2050, as outlined in its Future in Action program. This strategic alliance with HiiROC exemplifies Cemex's proactive stance in adopting innovative technologies to usher in a more sustainable and environmentally responsible future.