The first Bulgarian project for the capture and utilization of carbon emissions wins funding from the EU Innovation Fund

•    The ANRAV project of Devnya Cement AD is among the 17 projects that receive funding from the fund;
•    This is the first Bulgarian project to win the EU Innovation Fund;
•    The project aims to significantly reduce carbon emissions from own and not only production, thereby influencing the local and national level and helping to achieve the carbon goals of our country.

The Innovation Fund is one of the world's largest funding programs for innovative low-carbon technologies, aiming to bring industrial solutions to market and supporting the transition to a carbon-neutral Europe. The ANRAV project is the first Bulgarian project to receive funding from the Fund and the first in the Balkans to capture and utilize carbon emissions from industry.

"We are satisfied that we managed to overcome over 140 projects and showed the evaluators that such a project makes sense in Bulgaria. The majority of the team that prepared ANRAV's application is Bulgarian and works not only to win the project, but also for the cause - to implement an innovative technology for capturing and utilizing carbon emissions in Bulgaria" - commented Mr. Mihail Polendakov, Executive Director of "Devnia Cement" AD.

The project will be financed by the Innovation Fund with 190 million euros, and the rest of the investment will be covered by private financing. As a final investment, this will represent one of the largest for the country in recent years.

"Devnia Cement" JSC is part of the worldwide HeidelbergCement Group, whose policy aims at overall green optimization and achieving carbon neutrality. The ANRAV project is one of the first and largest in scale for the group to date. The carbon capture system is planned to be built and installed at the company's high-tech clinker and cement plant in the city of Devnya.