H&R secures funding for CO₂ reduction initiative

SALZBERGEN, Germany - H&R Chemisch-Pharmazeutische Spezialitäten GmbH, part of H&R GmbH & Co. KGaA, has received approval for funding from the Federal Ministry of Economics and Climate Protection (BMWK) for a new climate protection project. The project, centered on the construction and operation of an electric process furnace at the Salzbergen site, aims to significantly cut CO₂ emissions.

The BMWK's funding commitment, announced on October 15, 2024, supports the initiative as part of a climate protection agreement. This move aligns with H&R's “CO₂ Reduction Roadmap,” marking a pivotal step in the company's sustainability efforts. Dr. Thomas Röthel, Chief Commercial Officer of H&R, expressed gratitude for the successful funding application, which will facilitate the transition from natural gas to electricity for heat generation.

The power-to-heat project will see an investment of up to 116 million euros, primarily allocated to the site's electricity infrastructure and the new furnace. H&R will also receive financial incentives for each tonne of CO₂ saved over a 15-year period.

Detlev Wösten, Chief Sustainability Officer, highlighted the importance of the funding in enabling a shift towards more sustainable operations. The company anticipates a substantial reduction in CO₂ emissions while maintaining competitiveness within the industry.

This initiative is part of a broader strategy encouraged by the BMWK's guideline for promoting climate-neutral production processes. The guideline, approved by the European Commission under state aid law on February 16, 2024, seeks to assist emission-intensive industries in transitioning to environmentally friendly production methods.

The information for this article is based on a press release statement.

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Source: Investing.com