SaltX enters cooperation agreement with a leading Indian cement producer
In successful pilot tests during 2022, SaltX Technology demonstrated that its innovation, EAC (Electric Arc Calciner), can produce quicklime and cement through an electric process. Following the successful test results, SaltX partnered with SMA Mineral to electrify the quicklime production. Now, the company is entering the cement market by collaborating with a leading Indian cement producer - Dalmia (Cement) Bharat Limited, a wholly owned subsidiary of Dalmia Bharat Limited.
The parties have signed a MoU (Memorandum of Understanding) agreement to implement the EAC technology in Dalmia Cement's manufacturing process, thus increasing the possibility to further reducing the carbon dioxide emissions from its cement manufacturing process. The agreement includes both the intention of conducting a feasibility study, tests, and a plan for a first pilot. Under the terms of the MOU, the companies intend to conduct a feasibility study, certain tests and launch a pilot for the same.
The parties signed the agreement on 14th June 2023 in Zurich, Mr. Mahendra Singhi- MD & CEO of Dalmia (Cement) Bharat Limited, said:
"We have an ambitious sustainability and growth plan in an expanding market. We have evaluated multiple solutions to lower the carbon footprint of our cement manufacturing process and are now collaborating with SaltX to explore another avenue with regard to the same. We have a lot of confidence in the electric calcination technology of the company, and we are hopeful that this could accelerate our plan to strengthen our position in our mission to become Carbon Negative by 2040.
SaltX's EAC innovation has attracted significant market interest. Now, the company has chosen to advance its plan and enter the cement market, where Dalmia (Cement) Bharat Limited, with its strong climate profile and aggressive growth plan, is a very good match. The company has an installed cement manufacturing capacity of 41.1 million tons annually, making it India's fourth-largest manufacturer, a volume approximately ten times greater than the leading Nordic producer. Carl-Johan Linér, CEO of SaltX, explains:
"We have evaluated different strategic pathways for an introduction of our technology into the cement business area. Our conclusion is that Dalmia Cement is a perfect first partner as they, just like us, have high goals for reducing the industry's climate impact, they are growing and have a willingness to change. The collaboration enables us to take many important milestones and we look forward to debuting on the international cement market with our electrification technology."
For more information, please contact:
Carl-Johan Linér, CEO, +46 70 532 08 08
Harald Bauer, CFO, +46 70 810 80 34
About Dalmia Cement (Bharat) Ltd:
Dalmia Cement (Bharat) Limited (DCBL), a subsidiary of Dalmia Bharat Limited, is a leading player in the cement manufacturing segment and has been in existence since 1939. With a growing capacity, currently pegged at 41.1 million tons, DBL has the fourth-largest cement manufacturing capacity in the country. DCBL prides itself at having one of the lowest carbon footprint in the cement world globally. It is the first cement company to commit to RE100, EP100 & EV100 (first triple joiner) – showing real business leadership in the clean energy transition by taking a joined-up approach. For more information, visit: https://www.dalmiacement.com/
About SaltX:
SaltX Technology is a Swedish green tech company that develops and markets sustainable technology that benefits customers, climate, and society. The company operates in large-scale energy storage solutions and electrification technology, primarily for the lime and cement industry. SaltX Technology's stock is listed on the Nasdaq First North Premier Growth Market. For more information, visit: www.saltxtechnology.com.
About Electric Arc Calciner (EAC):
EAC is a patented technology for electric calcination, an industrial process where materials are heated to very high temperatures to alter their characteristics. The technology replaces fossil fuels with renewable energy and separates and isolates the carbon dioxide released from the material during heating, enabling a completely emission-free manufacturing process.