Industry News

EU Innovation Fund to award funding to Titan Group for large-scale carbon capture project

by | Jul 14, 2023

The EU Commission has chosen IFESTOS, Titan Group’s carbon capture project in Greece, for grant agreement preparation in the context of the third call for large-scale projects under the EU Innovation Fund.

Claimed as the largest project of its type in Europe, IFESTOS will see a large-scale carbon capture facility being constructed at Titan’s Kamari plant near to Athens, Greece. The newly established facility will then be used to decarbonize the company’s cement manufacturing operations, with Titan estimated to produce approximately 3 million tons of zero-carbon cement each year.

Through the project, the Kamari facility will be retrofitted with an advanced carbon capture system, and subject to regulations and permits, the technology will stop 1.9 million tons of CO2 from entering the atmosphere, making the site one of the largest carbon capture facilities in Europe.

It is anticipated that the project will form part of an eco-system of projects to combine carbon capture points with transportation and storage infrastructure. MoUs are already in place to mature the project.

“We are truly excited that the Commission has chosen to support our large-scale, highly innovative project,” said Marcel Cobuz, chairman of the group executive committee of Titan Group. “IFESTOS is a cornerstone of our accelerated decarbonization roadmap to net zero. In line with EU climate policy, together with our technology partners, we are pioneering an innovative carbon capture project, the largest in Europe, with a highly positive impact.

“The Group has strong capabilities and is committed to executing this project fast over the next few years, decarbonizing production and offering green growth opportunities to our customers in Europe. We embrace the opportunity to widely share our knowledge and expertise and promote green cements as modern materials for infrastructure and housing.” The EU Innovation Fund awards grants to accelerate the deployment of net zero and innovative technologies. During 2023’s third call for large-scale projects, the EU will invest more than €3.6bn.

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