Holcim has broken ground at its OLYMPUS carbon capture and storage project. The facility is to be constructed at the Heracles Group plant in Milaki, Greece and is expected to cost €400 million. The goal is to produce 2 million tons of near-zero cement per annum from 2029.

In 2023, OLYMPUS secured a grant from the EU Innovation Fund. The grant will contribute €125 million of the total investment requirement.

The groundbreaking ceremony was held in the presence of the Greek Prime Minister Kyriakos Mitsotakis who said that more than 1,000 new positions would be created during the construction phase alone. A further 100 jobs will be created during the operational phase.

According to Holcim Group CEO Miljan Gutovic, OLYMPUS is one of seven large-scale, European Union-supported carbon capture, utilisation and storage projects. Together, these projects will enable Holcim to offer over 8 million tons of near-zero cement each year across Europe by 2030.

OLYMPUS will deploy the combination of OxyCalciner and Cryocap™ FG technologies. Holcim is partnering with Air Liquide on the project.