Last checked at 3 Jul 2023 07:00
03 July 2023
(EPIC: SRC / Market: AIM / Sector: Construction Materials)
SIGMAROC PLC
('SigmaRoc', the 'Group' or the 'Company')
SigmaRoc and Material Evolution join forces to develop
new range of low carbon concrete products
SigmaRoc plc, the specialist quarried materials group, today announces that it has entered a strategic partnership with Material Evolution ('Mevo'), an advanced materials company producing low carbon cement from industrial waste streams, to develop a range of low carbon concrete products.
Mevo has developed a process that produces an emission-free substitute for ready-mix and precast concrete. With the cement industry currently accounting for 8% of global CO2 emissions, there is growing demand for reducing its carbon footprint. This innovative manufacturing process effectively addresses the problem of high CO2 emissions from conventional cement production by producing cement at ambient temperatures using various waste materials and feedstocks, thereby eliminating the reliance on fossil fuels.
Trials for product development have commenced at CCP, SigmaRoc's precast concrete manufacturer.
Fons Vermorken, CIO of SigmaRoc, commented:
"Our partnership with Mevo marks a significant step towards an emissions-free solution for ready-mix and precast concrete. Through our trials at CCP, we are confident that these innovative products will not only meet market demand but also pave the way to transforming the cement industry and driving sustainable innovation."
Information on the Company is available on its website, www.sigmaroc.com.
For further information, please contact:
SigmaRoc plc Max Vermorken (Chief Executive Officer) Garth Palmer (Chief Financial Officer) Tom Jenkins (Head of Investor Relations)
| Tel: +44 (0) 207 002 1080
ir@sigmaroc.com
|
Liberum Capital (Co-Broker) Nick How / Jamie Richards / Ben Cryer
| Tel: +44 (0) 203 100 2000
|
Peel Hunt (Co-Broker) Mike Bell / Ed Allsopp
| Tel: +44 (0) 20 7418 8900 |
About SigmaRoc plc
SigmaRoc PLC is an AIM-listed buy-and-build group targeting construction materials assets in the UK and Northern Europe. It seeks to create value by purchasing assets in fragmented construction materials markets and extracting efficiencies through active management and by forming the assets into larger groups. It seeks to derisk its investments via strong asset backing at its projects.
About Material Evolution
Material Evolution uses proprietary technology to produce decarbonized cement, with the goal to eradicate the 8% CO2 emissions produced by the cement industry globally. Mevo doesn't believe there will be one material to save the world, instead that a localised approach to materials will need to be taken. Mevo replaces the kiln in traditional cement production with an Alkali Fusion process that manufactures cement at ambient temperatures, resulting in a cement that is economical, lower carbon and is produced with less energy. This process is low capex and fits into the industry's existing infrastructure.