03-12-2024 04:40 PM | Source: PR Agency
Comment on Ambuja Cement`s partnership with Coolbrook by Viswajit Srinivasan, a senior banker and sustainable finance expert
Below the Comment on Ambuja Cement`s partnership with Coolbrook by Viswajit Srinivasan, a senior banker and sustainable finance expert
India is the second largest cement producer globally, after China and produces nearly 10% of the global production. Cement production contributes to 7-8% of CO2 emissions globally and over 6% of emissions in India. The industry has traditionally had a huge dependence on fossil fuels and this is why the RotoDynamic Heater (RDH), a patented technology of Coolbrook, which is supposed to be the only electric tech solution to achieve temperatures up to 1700C is very welcome. As per Coolbrook, the RDH can replace fossil fired furnaces and kilns and effectively decarbonise the industrial heating process. The Company believes adoption of its technology could help reduce CO2 emissions from cement manufacturing, globally, by 30%. Ambuja is planning to run its production process entirely on electricity generated from renewable sources and given Ambuja’s position as one of the top cement producers globally, this development will have a significant impact on emissions and India’s Net Zero goals by 2070. Cement industry is already working on decarbonising with firms such as Shree Cement planning to use only renewable energy by 2050, JK Cement and Ultratech cement planning to reduce emissions by 21% and 34% respectively.
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