Mexico's Cemex has signed a deal with London-based company Carbon Clean to launch a carbon capture pilot program early next year, the cement producer said on Thursday, as it aims to meet targets for lowering emissions across its global markets.
The two companies are developing technology capable of capturing up to 100,000 tons of carbon dioxide (CO2) annually at a cost of less than $30 per ton of CO2 captured, Cemex said.
"Accomplishing CO2 capture at an industrial scale and affordable cost is one of the biggest challenges" as Cemex aims to offer net zero CO2 concrete products globally by 2050, said Gonzalo Galindo, head of Cemex's corporate venture capital unit, in a statement.
One of the world's largest cement producers, Cemex operates in more than 50 countries around the world.
(Reporting by Laura Gottesdiener; Editing by Aurora Ellis)
