Greece Launches €380 Million Carbon Capture Project to Slash Cement Emissions
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📰 The quick summary: Greece has started construction on the €380 million Olympus carbon capture facility, which will capture up to one million metric tons of CO2 annually and help decarbonize the cement industry.
📈 One key stat: The Olympus facility will capture up to one million metric tons of carbon dioxide annually, significantly reducing emissions from cement production in Greece.
💬 One key quote: “The future of cement manufacturing hinges on carbon capture technologies,” said Greek Prime Minister Kyriakos Mitsotakis at the groundbreaking ceremony.
1️⃣ The big picture: Greece has begun construction on the landmark Olympus carbon capture project at Heracles Group’s Milaki cement plant. With a €380 million price tag, this facility represents one of the first major carbon capture initiatives in Greece. The project aims to capture up to one million metric tons of CO2 annually and enable Heracles to achieve net-zero emissions at the site by 2029. This development comes as part of a broader carbon capture movement in Greece, with other companies like Titan Group and Motor Oil Hellas also investing in similar technologies.
2️⃣ Why is this good news: The Olympus project marks a significant step toward decarbonizing Greece’s heavy industry sector, particularly cement production which traditionally generates high emissions. Combined with other initiatives like Titan’s Ifestos project and Motor Oil’s IRIS system, these facilities will collectively prevent millions of tons of carbon from entering the atmosphere each year. Captured carbon will be stored at Energean’s repurposed Prinos oil field, creating an integrated carbon capture and storage ecosystem in Greece. These developments align with EU climate goals while maintaining industrial production and demonstrating how traditional carbon-intensive industries can transform their operations.
3️⃣ What’s next: Heracles aims to achieve net-zero emissions at its Milaki plant by 2029 when the Olympus facility becomes fully operational. Meanwhile, Energean will begin drilling at the Prinos storage site in 2026, with plans to store up to 3 million tons of carbon annually in its first phase. The storage capacity will eventually double to 6 million tons upon expansion.
Read the full story here: Carbon Herald – Greece Begins Construction On Landmark Olympus Carbon Capture Facility
