22nd Nov 2022 16:50
(Alliance News) - SigmaRoc PLC on Tuesday said it will install its first carbon capture facility in 2023 as it seeks to advance its environmental, social and governance credentials.
The London-based quarried materials company said it has entered an agreement with Aqualung Carbon Capture AS, a leading membrane carbon capture and separation technology provider.
The agreement will see the construction of "Europe first industrial scale facility of its type" at Nordkalk in the first quarter of 2023. Nordkalk is a Finnish limestone-based products manufacturer acquired by the company in August 2021.
SigmaRoc said that after installation, a "full roll-out plan" will be finalised to equip all operating group kilns with the technology before 2030.
It estimates estimates that it will be able to "significantly bring forward" its Net-Zero targets once full roll-out has commenced.
With this next step in its ESG strategy, SigmaRoc has also committed to setting near-term company-wide emission reductions in line with the Science Based Targets initiative.
SigmaRoc Chief Executive Officer Max Vermorken commented: "Our partnership with Aqualung is an exciting next step for the Group and the fruit of many months of diligent work by Aqualung, and our technical teams in the UK and at Nordkalk. It demonstrates that capturing all process emissions is possible, with existing technology and at industrial scale. Once we roll this out across the Group, I believe we will be industry leading when it comes to our Carbon Capture strategy, demonstrating again the agility of our business and our business model."
Shares in SigmaRoc were trading 0.1% higher at 49.75 pence each in London on Tuesday afternoon.
By Chris Dorrell; [email protected]
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