Peab Intensifies Partnership With Cemvision on Green Cement
The Stockholm-based startup Cemvision and leading Nordic construction company Peab have entered into a product delivery agreement starting immediately. The deepened collaboration marks an important milestone for the concrete industry in the Nordics. Over the coming years, Peab will use Cemvision's ultra-low carbon cement in several of its projects.
Today, the cement industry accounts for 8 percent of global CO2 emissions. Cemvision has developed a cement that reduces carbon dioxide emissions by over 95 percent compared to traditional cement by replacing limestone and fossil fuels with refined industrial waste and green energy. The Swedish company is backed by several major Swedish and international investors and was named one of the world's most innovative companies by the American magazine Fast Company earlier this year.
"Future binders for concrete are circular and decarbonized. Cemvision’s emerging products are completely in line with what customers demand", says Ludwig Zetterström, CEO of Swecem, Peab’s subsidiary specialized in sustainable binders.
The Peab group, besides Swecem, also includes Swerock, one of Sweden's leading concrete suppliers. The upcoming deliveries from Cemvision are planned to supply various projects such as infrastructure projects, water treatment, foundation work, and prefabricated concrete. By securing the supply of green cement, Peab actively
contributes to the construction industry's climate transition.
"We are thrilled to be able to deliver our product to Peab. We see that green cement has become crucial for entire industries to be able to meet their climate commitments. The demand is already enormous and all forecasts indicate that it will only increase. We address this with a rapidly scalable production model", says Oscar Hållén, CEO of Cemvision.
Alongside other investors, Peab, through Swecem, has supported Cemvision since the beginning. To now enter into a product delivery agreement marks a significant milestone for the concrete industry in the Nordics, says Ludwig Zetterström.
"We see that Cemvision's products will play an important role in the concrete industry's pursuit of climate neutrality, alongside the cement industry's investment in carbon capture and storage, CCS. As one of Northern Europe’s largest cement customers, we have a responsibility to support startups like Cemvision in their development of innovative binders. It is crucial for us to implement and bring these new solutions to the market through our concrete manufacturing companies", says Ludwig Zetterström, CEO of the Peab subsidiary.
About Peab
Peab is a Nordic construction group with 14 000 employees and a turnover of 57 billion SEK. With local presence and focus on our own resources, we develop, construct, and build everyday life where it is lived. The headquarters is located in Förslöv on the Bjäre Peninsula in Skåne. The stock is listed on Nasdaq Stockholm.
About Swecem
Swecem is a subsidiary of Peab that manufactures climate-effective binders for the entire concrete industry. Swecem's vision and goal is that in ten years there will be completely climate-neutral concrete on the Swedish market and that all concrete in Sweden will be climate-neutral by 2045. Read more at swecem.se.
