ETFuels and CEMEX Sign Groundbreaking Carbon Utilization Partnership

Dublin / Alicante – February 23, 2023

ETFuels, the European pioneer in off-grid e-fuel production, announces a landmark partnership with CEMEX, S.A.B. de C.V., through its innovation arm CEMEX Ventures. Under this agreement, up to 450,000 metric tons of CO₂ captured annually from CEMEX’s cement plant in Alicante, Spain will be used by ETFuels to synthesize 300,000 tons of green methanol (e‑methanol) using renewable hydrogen.

A Major Decarbonization Milestone

This initiative marks a significant step toward circular carbon utilization in hard-to-decarbonize industries. By transforming waste CO₂ into low-carbon fuel, CEMEX and ETFuels are jointly advancing:
- European energy security through strategic fuel supply chains
- Industrial climate leadership in line with CEMEX’s Future in Action roadmap and ETFuels’ energy transition visionFernando A. González, CEO of CEMEX: “Collaboration and innovation will drive us to net-zero carbon. CCUS initiatives are essential to meeting our ambitious 2050 roadmap.”Lara Naqushbandi, CEO of ETFuels: “We are honoured to partner with CEMEX. This project aligns with our mission to pioneer economically viable, large-scale decarbonization solutions—turning industrial CO₂ emissions into commercially usable fuels.”

How the Partnership Works

- CEMEX supplies high-purity CO₂ from its Alicante facility
- ETFuels converts that CO₂ and green hydrogen into sustainable methanol
- End-use: low-carbon shipping fuel compliant with FuelEU Maritime and IMO mandates

Broader Strategic Impact

This agreement contributes to CEMEX’s CCUS deployment under its Future in Action program. ETFuels’ off-grid model enables rapid e-fuel deployment in renewable-rich but grid-constrained areas—supporting both companies’ scale-up goals.

About the Companies

ETFuels’s mission is to decarbonise the planet at Hyperscale, by producing competitively priced, regulatory-compliant e-fuels through a breakthrough “off-grid” model. ETFuels Limited is an Irish-headquartered e-fuels company developing a global portfolio of “off-grid”, industrial scale e-fuel projects across Europe and the United States. Founded in 2022 by a multidisciplinary team with deep expertise in renewables, infrastructure finance, regulation, and hydrogen systems, ETFuels was created to solve a core barrier to industrial decarbonisation: the bottleneck in scalable renewable energy access.
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CEMEX, S.A.B. de C.V., a global building materials leader, is advancing industrial decarbonisation through its Future in Action program. CEMEX Ventures invests in disruptive technologies to help achieve net-zero emissions by 2050.

Media Contacts

ETFuels: info@et-fuels.com
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CEMEX: media@cemex.com