Holcim Launches OLYMPUS Project in Greece, Advancing Europe’s Clean Industrial Deal with Carbon Capture Technology

Holcim Launches OLYMPUS Project in Greece, Advancing Europe’s Clean Industrial Deal with Carbon Capture Technology

(IN BRIEF) Holcim has officially launched the OLYMPUS project at its Milaki plant in Greece, aiming to produce 2 million tons of near-zero cement annually starting in 2029. With a EUR 400 million investment, the project is supported by a EUR 125 million grant from the EU Innovation Fund and is a key part of Europe’s Clean Industrial Deal. The project will create over 1,000 jobs and contribute to Greece’s economic growth. Holcim’s innovative use of carbon capture technologies will enable the company to lead the transition to sustainable construction. The OLYMPUS project is one of several EU-supported CCUS initiatives that Holcim is pursuing to produce 8 million tons of near-zero cement across Europe by 2030.

(PRESS RELEASE) ZUG, 30-May-2025 — /EuropaWire/ — Holcim has officially commenced construction on its groundbreaking OLYMPUS project at the Milaki plant in Greece, a transformative initiative designed to produce 2 million tons of near-zero cement annually starting in 2029. This EUR 400 million investment is a significant step in advancing Europe’s Clean Industrial Deal, with the project receiving a grant from the EU Innovation Fund. The groundbreaking ceremony, attended by Greek Prime Minister Kyriakos Mitsotakis, marks the beginning of a major leap toward sustainable industrial practices.

Prime Minister Kyriakos Mitsotakis expressed the strategic importance of the project, emphasizing the combination of private funding from Holcim and substantial European contributions. “This investment, amounting to nearly EUR 400 million, of which EUR 125 million comes from European funds, is a major contribution to Greece’s industrial growth. Beyond the financial investment, the project will create more than 1,000 jobs during construction and 100 permanent jobs in its operational phase,” said Mitsotakis. “The OLYMPUS project represents a significant step for both the economy and the future of industry in Greece.”

Miljan Gutovic, CEO of Holcim Group, highlighted the company’s ambitious plans to achieve near-zero cement and concrete production at scale by the end of this decade. “The OLYMPUS project in Greece is a key part of our strategy to lead the sustainable construction sector. This initiative is one of seven large-scale, EU-supported carbon capture, utilization, and storage (CCUS) projects that will help us contribute to Europe’s Clean Industrial Deal,” said Gutovic. By 2030, Holcim aims to provide more than 8 million tons of near-zero cement annually across Europe.

The OLYMPUS project will deploy innovative technologies, including OxyCalciner and Cryocap™ FG, to cost-effectively capture carbon emissions. In addition to its environmental impact, the project is expected to generate over 1,000 direct and indirect jobs, providing significant economic benefits to the Evia region. Holcim is collaborating with Air Liquide on this initiative, which has secured EUR 125 million in funding from the EU Innovation Fund, supported by the EU Emissions Trading System.

About Holcim

Holcim is a global leader in innovative and sustainable building solutions with net sales of CHF 26.4 billion in 2024. Our 65,000 employees are driven by our purpose to build progress for people and the planet across our regions to improve living standards for all. We partner with our customers to offer the broadest range of advanced solutions, from sustainable building materials ECOPact and ECOPlanet, to our circular technology ECOCycle®, all the way to Elevate’s advanced roofing and insulation systems.

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Important disclaimer – forward-looking statements:

This document contains forward-looking statements. Such forward-looking statements do not constitute forecasts regarding results or any other performance indicator, but rather trends or targets, as the case may be, including with respect to plans, initiatives, events, products, solutions and services, their development and potential. Although Holcim believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions as at the time of publishing this document, investors are cautioned that these statements are not guarantees of future performance. Actual results may differ materially from the forward-looking statements as a result of a number of risks and uncertainties, many of which are difficult to predict and generally beyond the control of Holcim, including but not limited to the risks described in the Holcim’s annual report available on its website (www.holcim.com) and uncertainties related to the market conditions and the implementation of our plans. Accordingly, we caution you against relying on forward-looking statements. Holcim does not undertake to provide updates of these forward-looking statements.

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SOURCE: HOLCIM