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Cemex S.A.B. de C.V. issues company news about its global construction materials business, including cement, ready-mix concrete, aggregates, urbanization solutions, and related services across Mexico, the United States, EMEA, and South, Central America and the Caribbean.
Recurring updates cover operating and financial results, material agreements, capital-structure matters, shareholder votes, governance, and senior leadership changes. Company news also addresses sustainability reporting, climate disclosure, circular-economy initiatives, alternative raw materials and energy use, and decarbonization technologies such as concentrated solar power for clinker production.
CEMEX has partnered with Sasol and ENERTRAG to create sustainable aviation fuel by combining hydrogen and CO2. This initiative is part of CEMEX’s Future in Action program, aiming for a carbon-neutral operation at its Rüdersdorf plant by 2030. The project will utilize green hydrogen sourced from ENERTRAG and CO2 produced at CEMEX’s German facility, generating 100 tons of CO2 daily. The consortium includes over 20 partners focused on achieving the first carbon-neutral cement plant globally.
CEMEX and Synhelion have achieved a significant milestone by producing the world's first solar clinker, a crucial component in cement manufacturing. This groundbreaking innovation connects clinker production with solar energy, marking a pivotal step towards fully solar-driven cement plants. By eliminating fossil fuel use that contributes to 40% of CO2 emissions, this advancement aligns with CEMEX's commitment to carbon neutrality by 2050. The pilot project aims to scale up production and further revolutionize the cement industry.
Energy Vault, Inc. has announced a $50 million licensing deal with Atlas Renewable LLC and a $200 million upsized PIPE to fund its business combination with Novus Capital Corporation II (NYSE: NXU). The agreement, marking a first-of-its-kind partnership for gravity-based energy storage between a U.S. and Chinese firm, will support renewable energy projects in China. The initial deployment of a 100MWh energy storage system is set for 2022 in Jiangsu Province. The funds will ensure sufficient cash for the business combination, crucial for Energy Vault's expansion and sustainability efforts.
CEMEX has acquired sustainable waste management company Broquers Ambiental in Mexico as part of its Future in Action program aimed at achieving carbon neutrality. This acquisition will enable CEMEX to enhance its waste-to-fuel operations, currently processing over 500,000 tons of waste annually and avoiding the emission of more than 730,000 tons of CO2. Broquers plans to increase its workforce by 50 employees to expand its capacity, contributing to sustainability in Queretaro. The initiative aligns with CEMEX's goal of promoting a circular economy and reducing fossil fuel reliance.
Energy Vault, Inc. announces an upsized PIPE investment from $100 million to $150 million alongside a merger with Novus Capital Corporation II (NYSE:NXU). A strategic partnership with Korea Zinc's Sun Metals aims for a decarbonization plan, utilizing Energy Vault’s energy storage technology. The deal is expected to enhance deal certainty and support Energy Vault's growth initiatives. Sun Metals targets 100% renewable power by 2040. The business combination is anticipated to close in Q1 2022, subject to regulatory approvals.
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CEMEX has joined the First Movers Coalition, a new initiative launched at COP26 that includes over two dozen global companies aiming to accelerate decarbonization technologies through combined purchasing power. This coalition, formed in partnership with the World Economic Forum, will target sectors responsible for more than a third of global carbon emissions. CEMEX's commitment includes aggressive 2030 decarbonization goals, aiming for net zero CO2 concrete by 2050, leveraging partnerships with firms like Volvo and BP.
CEMEX, S.A.B. de C.V. (NYSE: CX) announced that its 2030 global carbon emissions targets have been validated by the Science Based Targets initiative (SBTi). These targets aim for a 40% reduction in net GHG direct emissions from a 1990 baseline and a 42% reduction in indirect electricity emissions by 2030. CEMEX's Future in Action program supports this goal, targeting below 475 kg CO2 emissions per ton of cement and increasing clean electricity consumption from 29% to 55% by 2030.
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CEMEX (NYSE: CX) has officially joined the Business Ambition for 1.5°C commitment by the We Mean Business Coalition and the UN Global Compact, as part of The Race to Zero Campaign. This commitment aligns with CEMEX's goal to achieve carbon neutrality by 2050 through its Future in Action program. The company aims to limit its CO2 emissions to below 475 Kg per ton of cementitious product by 2030. CEO Fernando A. González emphasized the importance of collaborative climate solutions and encouraged other organizations to participate in these efforts.