Heracles Have Signed a Front-end Engineering Design (FEED) Contract With Air Liquide for the Olympus Carbon Capture Project

HERACLES, a member of Holcim Group, signed today a Front-End Engineering Design (FEED) contract with Air Liquide Engineering and Construction (E&C) for the CO2 capturing, liquefaction, storage, and dispatch facilities as part of HERACLES’ large-scale OLYMPUS carbon capture & storage (CCS) project in Greece.

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OLYMPUS is one of the largest CCS projects in Europe, enabling the HERACLES plant's CO2 emissions in the area of Milaki to capture and store 1 million tons of CO2 annually. In 2023, the project was selected for a grant from the EU Innovation Fund and is scheduled to enter full operation in 2029.

HERACLES group, a leader in sustainable building materials in Greece, has selected Air Liquide, a world leader in gases, technologies, and services for Industry and Health, to work jointly to upgrade and equip the Milaki plant with innovative and fully integrated systems for CO2 capture, which will be accomplished by oxygen enrichment and cryogenic separation.

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.

This agreement represents a crucial milestone towards the FID (final investment decision) of the OLYMPUS CCS project.

It underscores HERACLES’ commitment to fulfilling its net zero pledge by materializing a robust large-scale CO2 capturing unit.

The FEED study will provide a detailed blueprint to address technical considerations, define the layout, estimate the investment cost for the design, operation, and innovative integration of the carbon capture plant into the existing production facilities, and pave the way for the subsequent equipment procurement and construction phases.

The study is critical to ensuring the project's technical and financial viability.

Dimitris Chanis, CEO of HERACLES Group, stated: “This collaboration with Air Liquide embodies a shared vision of two industry leaders that are committed to innovation and environmental responsibility. For HERACLES, the OLYMPUS CCS project is a key lever to accelerate our net zero journey. We are committed to driving forward the industry’s decarbonization and energy transition to a more sustainable future.”

About HERACLES

HERACLES is a member of the Holcim Group and a leader in sustainable building materials, committed to innovation and reducing environmental impact through advanced technologies. For more information, visit HERACLES Group.