CHAILLÉ-SOUS-LES-ORMEAUX, France, June 06, 2024--(BUSINESS WIRE)--Regulatory News:
Hoffmann Green Cement Technologies (ISIN: FR0013451044, Ticker: ALHGR) ("Hoffmann Green Cement" or the "Company"), an industrial player committed to the decarbonation of the construction sector that designs and markets innovative clinker-free cements, announces the launch of construction of H-KSA 1, the first Hoffmann unit in Saudi Arabia.
The laying of the foundation stone at the Rabigh site follows the signing of the licensing agreement with the Shurfah Group, a Saudi conglomerate with a property portfolio of over 13,800 homes and an investment of more than 6 billion riyals.
As a reminder, this exclusive 22-year agreement provides for the construction of four Hoffmann Green units in Saudi Arabia to support the decarbonization of the country's construction sector.
As part of the Vision 2030 plan, the Shurfah Group will finance, build and operate several Hoffmann Green production units and commercialize Hoffmann Green decarbonized cements on an exclusive basis throughout Saudi Arabia. This vertical unit and all following ones will be built entirely with Hoffmann Green cement.
According to the timetable drawn up with the partner, construction should be completed by the end of 2025.
Julien Blanchard and David Hoffmann, co-founders of Hoffmann Green Cement Technologies, said: "The laying of the foundation stone is a symbolic moment in any construction project. We are very proud to have reached this first milestone with our partner Shurfah, on schedule. Less than a year after signing the licensing agreement, the start of construction of H-KSA 1 marks our international deployment in support of the kingdom's ambitious "Vision 2030" project. We are delighted to participate in the decarbonization of the Saudi construction sector by building several of our units on their territory and marketing our 0% cement clinker."
Abdullah Al Majed, Founder and Chairman of Shurfah Holding Company, specifies, added: "Decarbonizing our "smart cities" is a major challenge for Shurfah Holding and, more broadly, for Saudi Arabia. This partnership with Hoffmann Green is a natural fit with the Vision 2030 Plan, which strives to contribute to the sustainable development of the Saudi economy. We now look forward to continuing construction work to bring Saudi Arabia's first sustainable 0% clinker cement to market."
ABOUT HOFFMANN GREEN CEMENT TECHNOLOGIES
Founded in 2014 and based in Bournezeau (Vendée, Western France), Hoffmann Green Cement Technologies designs, produces and distributes innovative extremely low-carbon cements – with a carbon footprint 5 times lower than traditional cement – that present, at equivalent dosage and with no alteration to the concrete manufacturing process, superior performances than traditional cement.
Hoffmann Green operates two production units powered by a solar tracker park on the Bournezeau site: a 4.0 factory and H2, the world's first vertical cement plant inaugurated in May 2023. A third factory will be established at the Grand Port of Dunkirk in 2025, bringing the total production capacity to 550,000 tons per year, representing 3% of the French market. The group has industrialized a genuine technological breakthrough based on modifying cement composition and creating a cold manufacturing process, with 0% clinker and low energy consumption, making it a leading and unique player in the cement market that has not evolved for 200 years.
In a context of climate urgency and energy price inflation, Hoffmann Green Cement actively participates in energy transition by producing clean cement that consumes 10 to 15 times less energy than Portland cement. It also promotes eco-responsible construction and encourages circular economy and natural resource preservation. With its unparalleled and constantly evolving technological expertise, driven by high-performing teams, Hoffmann Green Cement Technologies serves all markets in the construction sector, both in France and internationally.
Hoffmann Green was selected among the 2022 promotion of the top 20 French green startups as part of the French Tech Green20 program, led by the French Tech Mission in partnership with the Ministry of Ecological Transition. In June 2023, the company was selected for French Tech 2030, a new ambitious support program operated by the French Tech Mission alongside the General Secretariat for Investment (SGPI) and Bpifrance.
The company continues its international development with contract signings in the United Kingdom, Belgium, Switzerland, Saudi Arabia and recently in the United States.
An extension of the family’s historical legacy in real estate development since 1944 whose real estate exceeded 13,800 thousand units and more than 6 billion riyals of investments. In the past few years, Mr. Abdullah Al Majed has diversified Shurfah Holding in line with the Kingdom’s 2030 vision to reach 40+ companies under the holding investments. In addition to the core business in Real Estate Shurfah is expanding its activities to the strategic sectors of Sustainability Industries Financial Services and Education.
Shurfah’s vision is to contribute to the sustainable development of Saudi Arabia Economy and the realization of vision 2030 by building a conglomerate of market leading enterprises.
Shurfah’s aim to build a portfolio of sustainable investments, capitalizing on our focused sector approach, long term partnerships and strong team experience.
Shurfah strives to build shareholder value, mindful of our social, economic, and environmental responsibilities. Shurfah Holding is an active investor in more than 45 companies, locally, regionally, and globally in these sectors. Shurfah’s Brand is having a current market value of 692 million Saudi Riyals.
