Stockholm-based cleantech company Cemvision has been selected by the European Commission for an EU Innovation Fund grant of up to €27.5 million (about $31 million). The money will support its first commercial-scale cement plant, to be built in Latvia.
The Plant
The plant is designed to produce up to 500,000 tonnes of near zero-carbon cement a year. Cemvision estimates it will avoid about 3.1 million tonnes of CO₂ over its first ten years of operation.
Cement production accounts for close to 8% of global CO₂ emissions. Cemvision makes cement from circular feedstocks, including steel-industry slags, using an electrified process, which it says gives substantially lower greenhouse gas emissions than conventional cement.
Claes Kollberg, CEO of Cemvision, said: “Being selected by the Innovation Fund confirms that our technology is ready to move from demonstration to industrial scale. This grant brings us a decisive step closer to building our first commercial plant, and to showing that Europe can make the cement it needs from its own industrial residues, with a fraction of the emissions.”
The Grant
The Innovation Fund is one of the world’s largest programmes for demonstrating and deploying net-zero technologies, financed by revenues from the EU Emissions Trading System. Cemvision’s project was picked after evaluation by independent technical and financial experts, in a tough competition: 77 projects across 27 countries were chosen from 358 applications.
Selection is not yet a signed grant. Cemvision will now prepare the grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA), which is expected to be signed between November 2026 and March 2027.
