The Saint-Gobain group has announced that it plans to invest almost 25 million euros in its plasterboard factory in Fredrikstad, Norway. The aim is to increase its production capacity by 40%. On the other hand, the company plans to become the first carbon-neutral gypsum board producer in the world.
To achieve its ambition, Saint-Gobain has a grant from Enova, which is a Norwegian government agency. The various installations within the framework of the project will be operational from 2023. In fact, this program comes at a time when the demand for electricity in the local market is increasing.
The investment in question will thus make it possible to innovate the electrification process of the region, which currently uses natural gas. In fact, 96% of Norway's electricity is produced from hydroelectric power. As a result of the new project, approximately 20,000 tons of carbon emissions will be reduced per year. In addition, the site's energy consumption will be significantly reduced.
By deciding to invest in Norway, Saint-Gobain is demonstrating its commitment to reducing its emissions. In particular, it intends to reduce the amount of carbon emitted by scopes 1 and 2 by 33% from 2017 to 2030. Its vision is essentially carbon neutrality by 2050.
By investing in the zero-carbon project in Norway, Saint-Gobain will be able to strengthen its leadership position in the region. Also, this program provides a solution to the high demand for sustainable energy. That is why the group has decided to extend the program to other sites.
In addition, the latest news from Saint-Gobain includes the acquisition of the chemical company Chryso. This is another action that is part of its fight against carbon emissions in the concrete and cement industries. This acquisition, although not too big, has nevertheless made investors react.
As a reminder, Chryso is a company specialized in the development of innovative solutions and services for sustainable construction. It was acquired by Saint-Gobain, from the Cinven fund, for 1.02 billion euros. The acquisition was negotiated directly with the Cinven fund.
Chryso is a French company specialized in green concrete. In fact, the firm has successfully implemented a technology that uses resin to green concrete. The company sells 80% of its products to bar associations, 15% to cement manufacturers and the remaining 5% to gypsum producers.
The admixture created by Chryso helps improve the performance of concrete, which in turn lowers construction budgets. In addition, these products are needed to recycle concrete and aggregates. Its primary quality, the one that interests Saint-Gobain the most, is its usefulness in reducing the carbon footprint.
Chryso currently operates in Europe, Africa, Asia, North America and the Middle East. The group was acquired by Saint-Gobain in order to accelerate its carbon reduction plan. The acquisition will be completed in the second half of this year.