Concrete Change: Holcim Launches €400 Million OLYMPUS Project for Near-Zero Cement
Cement is one of the most widely used construction materials in the world, but its production is a major source of carbon dioxide (CO₂) emissions. Holcim, a global leader in building materials, is working to change this. The company has officially launched the OLYMPUS project in Milaki, Greece. This project uses advanced carbon capture technology to reduce emissions and aims to set a new standard for the cement industry.
This big move in sustainable building aims to create a modern carbon capture plant. It will make 2 million tons of near-zero cement by 2029. Backed by the Heracles Group, the project plans to reduce CO₂ emissions significantly. It will also create over 1,000 jobs, benefiting both the environment and the local economy.
What Is the OLYMPUS Project Trying to Achieve?
Traditional cement production heavily impacts the planet, releasing about 8% of global CO₂ emissions. This is because making cement involves heating limestone at very high temperatures. This releases a large amount of carbon dioxide into the air.
Holcim wants to change this with its OLYMPUS project. The new plant in Milaki will use advanced carbon capture technology. Its goal is to produce 2 million tons of near-zero cement each year starting in 2029. This means that the cement made at the site will have very low carbon emissions compared to traditional cement.
The project supports the European Union’s wider target of reaching net-zero emissions by 2050. It also backs the EU’s Clean Industrial Deal, which aims to reduce greenhouse gas emissions across industries. Holcim’s initiative will do more than meet environmental goals. It will also create job opportunities for local economies during the entire project lifecycle.
Miljan Gutovic, CEO Holcim Group said:
“Holcim is on course to make near-zero cement and concrete a reality at scale this decade, as the leading partner for sustainable construction. The OLYMPUS project in Greece is one of our seven large-scale, European Union-supported carbon capture, utilisation, and storage projects that are setting the Clean Industrial Deal in motion. Together, these will enable Holcim to offer over 8 million tpy of near-zero cement across Europe by 2030.”
How Carbon Capture Works at OLYMPUS
The OLYMPUS plant will use two cutting-edge systems: OxyCalciner and Cryocap™ FG. These technologies trap carbon dioxide from cement production and store or reuse it. Together, they can capture about 1 million tons of CO₂ per year at full capacity. This significantly lowers harmful emissions from the cement-making process.
Carbon capture and storage (CCS) is an approach recognized by experts and policy leaders as essential to fighting climate change. The European Union sees CCS as a key part of its strategy to decarbonize industries like cement, steel, and chemicals.
Holcim’s adoption of CCS also reflects a growing trend in the construction sector to adopt cleaner, tech-driven practices. Producing 2 million tons of near-zero cement each year helps lower emissions in construction. This supports countries in reaching climate goals and cutting pollution from buildings.
Along with its environmental goals, the plant will have a strong economic impact. The effort will require an investment of €400 million, including €125 million from the EU Innovation Fund.
Moreover, it will bring over 1,000 construction jobs and over 100 long-term roles once operations begin. The plant will support hundreds of families and strengthen the local economy.
This initiative is also a big part of Holcim’s commitment to decarbonize its operations and reach its net zero goal.
Holcim’s Net Zero Journey: Progress and Initiatives
Holcim has committed to becoming a net-zero company by 2050, with a clear, science-based roadmap aligned with the 1.5°C climate goal validated by the Science Based Targets initiative (SBTi). The company’s net-zero strategy covers all greenhouse gas emissions across its value chain, including:
- Scope 1 (direct emissions), Scope 2 (indirect emissions from purchased energy), and Scope 3 (other indirect emissions such as those from supply chains and product use).
Key Targets and Progress:
- Near-term goals: Holcim aims to reduce gross Scope 1 and 2 emissions by 26.2% per ton of cementitious materials by 2030 (from a 2018 baseline) and Scope 3 emissions by 25.1% per ton of purchased clinker and cement by 2030 (from a 2020 baseline).
- Long-term goals: By 2050, Holcim targets a 95% reduction in Scope 1 and 2 emissions and a 90% reduction in absolute Scope 3 emissions.
The company has already made progress, reducing its CO₂ emissions intensity per ton of product and increasing its use of alternative and renewable fuels.
Major Emission Reduction Initiatives:
Holcim’s net-zero journey is driven by several initiatives:
Carbon Capture, Utilization, and Storage (CCUS): Holcim plans to invest CHF 2 billion by 2030 in CCUS technologies, aiming to capture over 5 million tons of CO₂ annually and produce 8 million tons of net-zero cement per year. Projects like OLYMPUS in Greece and GO4ZERO in Belgium exemplify this commitment.
Alternative Fuels and Raw Materials: The company is replacing fossil fuels with biomass and other waste-derived fuels in its cement kilns, reducing reliance on carbon-intensive energy sources.
Low-Carbon Products: Holcim offers green concrete (ECOPact) and green cement (ECOPlanet), which have significantly lower carbon footprints than traditional products. These products enable customers to reduce their own emissions in construction projects.
Circular Economy and Recycling: Holcim is a world leader in recycling construction and demolition waste, having recycled 6.8 million tons in 2022 and targeting 10 million tons by 2025. This reduces the need for virgin raw materials and lowers overall emissions.
Smart Design and Digital Innovation: Technologies such as 3D printing allow Holcim to build with up to 70% less material without compromising performance, further reducing embodied carbon in construction.
Holcim’s net-zero journey combines ambitious targets, significant investments in carbon capture and renewable energy, innovative low-carbon products, and circular economy practices. These initiatives show measurable progress and a comprehensive plan to achieve net-zero emissions by 2050.
What Do the Market Trends Show for Cement and Carbon Capture?
The global demand for cement is expected to rise due to urbanization and infrastructure development. However, this growth presents challenges for reducing emissions. Without changes in production methods, CO₂ emissions from cement could reach 3.8 gigatons in 2050. CCUS technologies can reduce life cycle CO₂ emissions from cement production by nearly 70%.
The market for carbon capture is growing rapidly. The experts predict that global CCS market could reach $7.5 billion by 2026, with an annual growth rate of 25.2%. Governments want greener industry practices.
Thus, the demand for cleaner materials and emissions technology is rising. Projects like OLYMPUS prove that we can cut emissions significantly. They can also shape future policies and boost investments in green technologies.
Adopting CCUS technologies requires significant investment. The cost of cement is expected to rise from $90–$130 per ton today to at least $160–$240 by 2050 as carbon capture systems are integrated.
Major producers are still investing in CCUS, despite the costs. Successful projects like Holcim’s OLYMPUS can boost innovation and encourage more adoption in the industry.
Setting an Example for the Construction Industry
Holcim’s OLYMPUS project shows that it is possible to produce cement with much lower emissions using current technology. By investing in carbon capture and producing near-zero cement, Holcim is setting a benchmark for the global construction market.
This effort helps meet climate goals. It also boosts the local economy and sets an example for the global construction industry. As demand for cement rises, projects like OLYMPUS prove that it would be possible to build a cleaner, more sustainable future for people and the planet.
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