It’s an efficient process, because there’s no need for purification or liquefaction of the carbon dioxide. No energy is expended preparing the carbon dioxide, either. Within two years, the four companies plan full production of CO2ncrEAT blocks from carbon dioxide that would otherwise have gone into the atmosphere to contribute to global warming.
Belgium masonry block gets EU bank help
But development of an innovative industrial project is very expensive. The four companies put the cost at €7.5 million. So they wanted to get backing from the Innovation Fund, a European Commission funding programme for innovative, low-carbon technologies.
After its first application to the Innovation Fund, CO2ncrEAT received support from experts on the European Investment Bank’s Innovation Fund team. Under the Innovation Fund framework, the European Investment Bank offers tailored support for selected projects, to help make them ready to be put into action.
“We had to show that the project is economically viable, taking into account the contribution of all four members of the consortium,” says Matthieu Banal, a European Investment Bank finance advisor who worked with the companies.
The project will be the first European commercialisation of “CO2-negative” construction blocks in Europe.
“Projects that apply for the Innovation Fund grant need to demonstrate that they are not only innovative, but also mature, scalable and can play a relevant role in cutting carbon emissions,” says Clotilde Rossi di Schio, a European Investment Bank technical advisor on the project.
There are two calls each year for submissions to the Innovation Fund. The European Commission sends up to 40 project applications per call to the EIB Innovation Fund team, which consists of experts from the Bank’s Advisory Services and the Projects Directorate for financial and technical assistance.
EU finance to offset risks of Belgium masonry block
The European Climate Infrastructure and Environment Executive Agency (CINEA), an EU body, pre-selected the project for a grant of €4 million, 60% of the capital expenditure for the development of the process under an Innovation Fund call for small projects (below €7.5 million). The preparation of the grant agreement is on-going, and the grant agreement should be signed in May.
“Without the grant, it would be too expensive” to develop the manufacturing process for these blocks, says Gregoire. “We couldn’t develop and build the whole industrial process and ensure profitability. The risk linked to the innovation and the capital expenditure needed to build the factory are too high.”
The grant will help pay for a “capture and conditioning unit” at Lhoist, the pipeline to Prefer, and a carbonation chamber at Prefer where the blocks will be formed and hardened by the carbon dioxide.