TITAN Group – a leading cement and building materials producer, announced it signed a grant agreement with the EU Innovation Fund for the large-scale carbon capture project IFESTOS. The project will be supported with a grant of 234 million euros ($256 million).
TITAN was selected in July in the context of the EU Innovation fund’s third call for large-scale projects. It will aim to accelerate the green transformation of the Greek building materials industry, and to play a pivotal role in promoting carbon capture technology across the continent.
IFESTOS is an important component of TITAN’s extensive decarbonization roadmap towards net zero by 2050, and involves the construction of an innovative industrial-scale carbon capture facility at the flagship Kamari plant of TITAN Group near Athens, Greece.
This project “encapsulates our commitment to sustainability and innovation, forging a path toward a cleaner, greener, and more resilient future for the industry, in line with EU climate policy”, noted Aris Tsikouras, Director and IFESTOS Project Leader.