Hoffmann Green Cement Technologies has raised €65.4 million thanks to an initial public offering (IPO) on the Euronext Growth Paris stock exchange. The Vendée based company has developed a clinker free cement which drastically reduces the carbon footprint.
Cement is responsible for around 8% of global carbon dioxide emissions. Situated in La Roche sur Yon, in the Pays de la Loire region, Hoffmann Green utilises three innovative technologies during the manufacturing process in order to make cement without clinker.
This material is usually the most important element of cement composition, but its fabrication requires high temperatures and therefore produces atmospheric pollution. With this disruptive innovation, Hoffmann Green claims the cement carbon footprint is divided by 5!
Two new plants in France
By selling shares, Hoffmann Green Cement Technologies has raised €65.4 million (which could be increased up to €75.2 million with the overallotment option). These funds will be used for the construction of two new cement plants in France, one of these being an extension of the industry 4.0 plant located in Bournezeau (Vendée).