Cemex Ventures, the corporate venture capital arm of Cemex, announced a new investment in Waste to Energy Advanced Solutions (WtEnergy), increasing its stake in the startup as it scales technology that converts non-recyclable solid waste and biomass into clean energy.
The follow-on funding is intended to support the development and commercial scaling of WtEnergy’s conversion process, which Cemex said has the potential to upgrade waste streams into low-carbon syngas, clean hydrogen, and other bioproducts. Cemex framed the investment as a step toward integrating additional clean energy sources into its clinker and cement manufacturing footprint, where fuel substitution is a key lever in the company’s decarbonization roadmap.
Cemex Ventures said the decision to “double down” follows what it described as measurable progress and growing institutional validation of WtEnergy’s approach. The company pointed to a €4.4 million European Union Innovation Fund grant, which it said WtEnergy received in collaboration with Cemex to advance its waste-to-fuel conversion technology. Cemex said the grant underscores the potential for the solution to serve as a clean, scalable energy alternative for heavy industry applications.
Cemex also highlighted WtEnergy’s role in hydrogen production initiatives supported by European programs. It said WtEnergy is leading the HYIELD project at Cemex’s Alcanar plant in Spain, a Horizon Europe-backed effort that has been awarded a €10 million grant and is focused on transforming bio-residues into high-purity clean hydrogen. Cemex said the project’s progress positions WtEnergy as a participant in the energy transition and a circular economy model based on sustainable resources.
The investment ties into Cemex’s broader “Future in Action” program, which targets net-zero CO₂ emissions by 2050. Cemex reiterated that boosting the use of alternative fuels with high biomass content is one of the main pathways in its 2030 decarbonization roadmap and noted that its targets have been validated by the Science-Based Targets initiative under a 1.5°C scenario.
Cemex Ventures, launched in 2017, invests in solutions aimed at sustainability and innovation across the construction ecosystem, partnering with startups and other stakeholders to address operational and environmental challenges. Cemex, meanwhile, said it continues to prioritize circular-economy approaches, including increasing the use of waste and residues as alternative fuels and raw materials, supported by new technologies.
KEY QUOTE:
“WtEnergy perfectly embodies the type of solutions we aim to promote within our circular economy and clean energy strategy. The advancement of technologies that can turn waste into clean fuels and low-carbon solutions is essential for the decarbonization of the construction sector. With this new investment, we reinforce our commitment to supporting startups that are redefining the industry’s energy future and creating tangible value across the cement value chain.”
Alfredo Carrato, Investment Manager, Cemex Ventures
