O.C.O Technology and Petronor collaborate to build €20 million carbon-negative aggregate facility
O.C.O Technology announced that it had entered a joint venture partnership with Petronor to build a €20 million facility in the Port of Bilbao, which will be the first in continental Europe to produce carbon-negative manufactured limestone aggregate.
O.C.O Technology’s operations revolve around carbon capture, the manufacture of sustainable construction products and waste treatment. Petronor, on the other hand, is an oil and gas exploration company.
Also read: Heirloom announces plans to build two direct air capture plants in Louisiana
According to O.C.O CEO Steve Greig, the collaboration will help the European Energy from Waste (EfW) sector manage its waste materials.
European Union regulations have established that by 2035, only 10% of municipalities should be sent to landfills.
He added, “This is a hugely important milestone for O.C.O Technology, and we are delighted to be working closely with our European partner Petronor. This development marks a number of firsts for us.
Also read: Temasek and Blackrock to invest in carbon removal strategy
The plant has additional benefits besides treating municipal waste that would eventually end up in a landfill. For instance, it exemplifies the circular economy in practice. Moreover, the production of limestone diminishes the necessity of quarrying natural aggregates.
These aggregates are increasingly sought-after as a sustainable construction material, commonly used in applications such as tiles, building blocks, mortar, and non-structural concrete.
The potential of this joint venture has already been demonstrated and has several awards to its name.
The joint venture project clinched several awards in Spain, including an Innovation Fund Small Scale award in 2021. It outperformed 200 other entries, attempting to win a €3.2m investment.
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