SigmaRoc makes progress on sustainability initiatives

(Sharecast News) - Quarried materials specialist SigmaRoc updated the market on its sustainability initiatives on Friday, aligning with its goal to achieve net-zero emissions by 2040. The AIM-traded firm said a key development was the collaboration between its subsidiary CCP Building Products and Carbon8 to create cement-free, carbon-negative concrete blocks.

It said the blocks would leverage its 'Greenbloc' technology, focussed on reducing cement content in concrete - a major carbon contributor.

CCP devised a process using ground granulated blast-furnace slag (GGBS) as the primary raw material.

Carbon8's technology captures and stores more carbon dioxide in the aggregates than emitted during manufacturing, resulting in carbon-negative blocks.

Also, SigmaRoc subsidiary Nordkalk partnered with OX2 to explore fossil-free energy solutions, including e-fuel production, in Gotland, Sweden.

The e-fuel produced through the collaboration would be designated for use within Nordkalk's facilities or for distribution to other industries.

SigmaRoc also said Nordkalk was introducing two new sustainable product lines - Nordkalk Next and Nordkalk Complete.

The board said the ranges included products made from at least 33% circular materials, carbon-neutral products, and products produced using at least 33% fossil-free energy.

It said the products would be initially available in Finland and Sweden in 2024, with plans for further expansion as production capacity ramped up.

Furthermore, SigmaRoc said it had initiated the second phase of its Aqualung carbon dioxide capture module at Köping, Sweden.

The phase would involve preparing captured carbon dioxide for industrial applications.

A dedicated purification, compression and liquefaction unit was installed to convert captured carbon dioxide into an industrial gas suitable for industrial processes or sequestration in carbon capture and storage (CCS) facilities.

Additional updates on that project were expected in the New Year.

"We are very pleased with the progress made on all environmental, social and governance initiatives," said chief executive officer Max Vermorken.

"We keep demonstrating we can lead the sector both in reducing our carbon dioxide footprint, utilisation of materials, circular product development and general innovation."

At 1031 GMT, shares in SigmaRoc were down 0.98% at 48.92p.

Reporting by Josh White for Sharecast.com.