THE OLYMPUS PROJECT

An innovative large-scale CO₂ emissions avoidance project in Greece that will spearhead the decarbonisation of energy-intensive industries

HERACLES – HOLCIM’s Carbon Capture project towards a Net Zero Future

Enabling the development of CO₂ storage capacity in southern Europe

OLYMPUS Carbon Capture project by HERACLES Group, a member of Holcim, is a flagship project in Holcim’s European decarbonization roadmap. It will lead to the development of capturing technology and consequently to shipping & storage capacity in southern Europe. It uses a highly innovative technology combination that integrates Oxygen enrichment, adsorption and cryogenic purification.

 

Planned to begin operations in 2028, the project aims to capture and store 1 million tons of CO₂ annually. In 2023, the project was awarded a grant from the EU Innovation Fund 2021 Large Scale call.

The technology behind the project

The integration of Oxygen enrichment, adsorption and cryogenic purification to cement is a novel technology that will enable low capture variable cost. Through this project, Holcim will transform the Milaki cement plant into a net carbon removal site.

 

The CO₂ is separated from the enriched process fluegas then purified and eventually liquefied at the proper pressure and temperature to be stored in Milaki temporary storing bullets.

 

The CO₂ will be of high purity and its specifications will be strictly managed minimizing impurities to fulfil sequestration requirements to be securely stored in off-shore CO₂ storage site.

EU and HERACLES initiative

OLYMPUS being one of the selected EU co-funded projects

The EU Innovation Fund, one of the world’s largest funding programs for innovative low-carbon technologies, aims to deploy net-zero solutions and drive the transition to climate neutrality in European industry. OLYMPUS has been selected to receive support from the EU Innovation Fund with a grant of EUR124.5 million, while the total investment will exceed EUR350 million.

OLYMPUS: Ascending to the top of CO₂ avoidance in the EU cement sector through the innovative technology

The large-scale Carbon Capture and Storage (CCS) “OLYMPUS” project aims to transform the Milaki cement plant in Evia, Greece into a net-zero carbon cement plant, through the adoption of innovative technologies.

 

Captured CO₂ will be liquefied and transported by sea to the Greek offshore sequestration facility of Prinos in the northern part of the Aegean Sea. The project is planned to achieve a 95% relative greenhouse gas (GHG) emission avoidance compared to the reference scenario.

 

OLYMPUS project will contribute to the objectives of REPowerEU strategy, by helping to reduce fossil fuel consumption in industry and transport, aligned with the objectives of the Net-Zero Industry Act (NZIA) of reaching 50 mega tons (Mt)/year CO₂ storage capacity by 2030. The project will pioneer the production of green construction materials, sequestrating more than 1 million tons CO₂ / year. The project will contribute to both Greek and European climate-neutrality, by creating new markets for climate neutral and circular products, such as steel, cement and basic chemicals.

Benefits for Greece and Europe

Enabling the development of CO₂ storage capacity in southern Europe

1The OLYMPUS project will contribute

to the objectives of REPowerEU strategy, by helping to reduce fossil fuel consumption in industry and transport, and particularly to the objectives of the Net-Zero Industry Act (NZIA) of reaching 50 mega tons (Mt)/year CO₂ storage capacity by 2030.

2The project will also promote the production

of green construction materials, sequestrating more than 1 million tons CO₂ / year. The project will contribute to both Greek and European climate-neutrality, by creating new markets for climate neutral and circular products, such as steel, cement and basic chemicals.

3The project will have positive socio-economic impacts

at the regional level, expecting to create 1,000 jobs (400 direct and 600 indirect), including the collaboration with subcontractors and suppliers, thus contributing to the overall economic development of the area.

4OLYMPUS will also serve as a CCS knowledge hub

promoting knowledge sharing among policymakers, academia, professionals and other stakeholders. The creation of knowledge sharing networks, exchange of technology, expertise and best practices will also facilitate stakeholder learning, and contribute to the development of innovative solutions for decarbonising energy-intensive industries.

Partners

An innovative large-scale CO₂ emissions avoidance project in Greece that will spearhead the decarbonisation of energy-intensive industries

The CryocapTM Oxy technology by Air Liquids captures and purifies CO₂ from flue gas through oxycombustion processes. It has a CO₂ capture rate of 98%. This technology can manage impurities, particularly high levels of nitrogen oxides, to ensure the quality and safety of the captured CO₂.

Project Team

Name

Project role

Company

Denis Muller

CCS Director Eastern Europe

HOLCIM Group

Nikolaos Bozos

Greece CCUS Manager

HERACLES Group

Charalampos Kouris

CCS Project Process and Environment Manager

HERACLES Group

Vassilis Cambanis

Technical Project Manager

HERACLES Group