The chemical group will roll out a set of energy efficiency measures and improvements at its facilities to cut its CO₂ emissions by 56%.
Ercros has received a €20 million ICF EcoVerda loan from the Institut Català de Finances (ICF) to drive the decarbonisation of its Vila-seca I and Vila-seca II plants, part of its Tarragona Industrial Complex (CIT).
The company will carry out a range of energy efficiency improvement measures at both plants, with the aim of cutting the CIT's CO2 emissions by 56%.
Specifically, the project —which will significantly reduce the CIT's energy costs— includes the installation of an electric boiler at the Vila-seca I plant, partially replacing the current fossil-fuel-based heat generation systems.
At the Vila-seca II plant, Ercros will commission a biomass steam generation facility and a residual heat recovery system (REC), harnessing thermal energy that until now was lost during the production process. In addition, measures will be carried out at both plants to optimise the use of the hydrogen produced in the chlor-alkali manufacturing process.
All the actions in this decarbonisation project are aimed at reducing greenhouse gas emissions by lowering fossil fuel consumption.
The ICF EcoVerda loan, from the public development bank of the Generalitat de Catalunya, finances approximately 35% of a total investment of €56.7 million earmarked for the decarbonisation projects Ercros is developing at its Tarragona Industrial Complex.
Ercros's complex in Tarragona has a workforce of 324 employees, generates €214.8 million in revenue and exports around 43% of its output. Its decarbonisation project has also received a €14 million grant from Spain's PERTE industrial decarbonisation programme.
Key quotes
Vanessa Servera, CEO of ICF:
"At ICF we offer long-term financing and tailored terms to drive the major transformations Catalonia needs: a more competitive industry and a more sustainable productive fabric. The Ercros project is a good example, because it shows that sustainability is not a cost but an opportunity to grow."
Luis Rebelo da Silva, CFO of Ercros:
"This financing from ICF allows us to accelerate a strategic project for Ercros and move forward in transforming the CIT towards a more efficient and competitive model. This investment will significantly reduce CO2 emissions and fossil fuel consumption, while strengthening the competitiveness of our facilities."
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Ercros has received a €20 million ICF EcoVerda loan from the Institu...
