money Mexico's Cemex agrees tie-up to turn Spain plant emissions into 'green' methanol
MEXICO CITY, Feb 23 (Reuters) - Mexican cement maker Cemex has entered an agreement with Dublin-based renewable energy producer ETFuels to turn carbon emissions from a plant in Spain into a type of methanol that is more sustainable than traditional fuels, the firms said Thursday.
Up to 450,000 metric tonnes of carbon dioxide will be captured annually through the tie-up, the companies said, though Cemex is still evaluating implementation of the capture.
The fuel produced once the plan goes into effect will be used in shipping, the companies said.
The agreement will also contribute to energy security in the region, the companies added. Since the Russian invasion of Ukraine last year, the European energy market has been upended. (Reporting by Kylie Madry)
