Vicat Faces Funding Setback But Remains Committed to Sustainability
Vicat Sees Cancellation of Funding Agreement
The US Department of Energy has informed Vicat's American subsidiary, National Cement Company of California Inc., that it has canceled funding for the Carbon Capture Storage - Lebec Net Zero project. This announcement follows a larger decision by the Department of Energy affecting 24 awards throughout various projects.
Commitment to Sustainability Remains Strong
Despite this setback concerning the Lebec Net Zero project, Vicat’s dedication to decarbonization remains unwavering. The company is focused on reducing carbon emissions significantly, targeting 497 kg CO? net per ton of cement equivalent in direct emissions. In Europe, their goal is set even lower at 430 kg CO? net per ton of cement equivalent.
Focus on Proven Technologies
Vicat's decarbonization strategies are grounded in established technologies. They are investing in energy efficiency, alternative fuel usage, and reducing clinker rates to meet their goals. This approach does not depend on breakthrough technologies like carbon capture and storage, which makes it feasible and realistic.
About Vicat
With a rich history spanning 170 years, Vicat stands out as a prominent player in the mineral and biosourced building materials industry. The company, which is publicly traded on the Euronext Paris market, is part of the SBF 120 Index and remains largely controlled by the founding Merceron-Vicat family. Now operating across 12 countries, Vicat is committed to achieving carbon neutrality in its entire value chain by 2050.
Operational Scope and Innovations
Vicat operates mainly in three business areas: Cement, Ready-Mixed Concrete, and Aggregates, along with other related activities. The company employs close to 10,000 people and has shown impressive financial growth, recording consolidated sales of €3,884 million. Vicat is actively pursuing a circular economy model, aiming to reduce its environmental impact while delivering value to stakeholders.
Contact for Further Information
For more information on Vicat and their initiatives, the following contacts are available:
Investor Relations
Pierre Pedrosa
Tel. +33 (0)6 73 25 98 06
Email: pierre.pedrosa@vicat.fr
Press Inquiries
Raphael Hinninger
Tel. +33 (0)7 61 74 86 52
Email: raphael.hinninger@vicat.fr
Frequently Asked Questions
What was the reason for the funding cancellation?
The funding agreement was canceled by the US Department of Energy as part of a broader decision affecting various projects.
How does this affect Vicat's sustainability goals?
While it's a setback in funding for one project, Vicat remains committed to its decarbonization targets and overall sustainability initiatives.
What technologies does Vicat rely on for its carbon reduction efforts?
Vicat focuses on proven technologies that enhance energy efficiency, alternative fuel usage, and clinker rate reduction to achieve their emissions goals.
In how many countries does Vicat operate?
Vicat operates in 12 countries across both developed and emerging markets.
What are Vicat's main business areas?
Vicat's primary business areas include Cement, Ready-Mixed Concrete, and Aggregates, along with related activities aimed at sustainability.
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