Swedish company Cemvision’s RE-MENT project has been selected to receive up to €27.5 million in funding from the European Union Innovation Fund to establish a commercial-scale low-emission cement plant in Ventspils, Latvia. The project is one of only two projects planned in Latvia selected for funding under this call. The Investment and Development Agency of Latvia (LIAA) supported the company throughout the application preparation and funding acquisition process.
Under the RE-MENT project, Cemvision plans to establish a plant in Ventspils capable of producing up to 500,000 tonnes of cement annually with exceptionally low production emissions. The project aims to manufacture supersulphated cement (SSC), which can reduce CO₂ emissions by more than 90% compared with conventional cement production. Over its first ten years of operation, the project is expected to avoid more than 3.1 million tonnes of CO₂-equivalent emissions, while strengthening European industrial competitiveness and promoting the production of sustainable construction materials.
“Being selected among the projects supported by the Innovation Fund demonstrates that our technology is ready to move from the demonstration phase to industrial-scale production,” says Claes Kollberg, CEO of Cemvision. “This grant is a decisive step towards establishing our first commercial plant and demonstrating that Europe can produce the cement it needs from industrial residual materials while generating only a fraction of the emissions associated with conventional cement production. LIAA provided significant support in preparing our application, and we look forward to continuing our close cooperation with the Latvian government and local authorities to bring the plant project to fruition.”
Cemvision will now begin preparing the grant agreement with the European Climate, Infrastructure and Environment Executive Agency (CINEA). The agreement is expected to be signed between November 2026 and March 2027.
LIAA supported the company throughout the Innovation Fund application process, including organising information days in Latvia, facilitating access to expert knowledge, and providing guidance on programme requirements and funding opportunities.
“We congratulate Cemvision on securing support from the European Union Innovation Fund for the development of its plant in Ventspils. This funding reduces the project’s financial risks and helps move the planned facility towards implementation. Investments of this kind support the development of manufacturing in Latvia using innovative technologies and open up broader opportunities for our companies in European markets,” emphasises Ieva Jāgere, Director of the Investment and Development Agency of Latvia (LIAA).
Cemvision’s project is one of two projects in Latvia that have secured funding under this European Union Innovation Fund call. This demonstrates Latvia’s potential to develop internationally competitive industrial projects that attract foreign investment, create new manufacturing capacity and support the transition towards a climate-neutral economy.
The first Latvian company to receive support from the European Union Innovation Fund was Aerones. In 2023, the company was awarded a €4.4 million grant to scale up the production of robotic systems for repairing wind turbine blades.
“Latvia’s industrial growth requires not only new manufacturing facilities but also modern infrastructure and accessible, high-quality housing that helps companies attract employees. The renovation of existing housing stock and the construction of new factories create demand for high-quality building materials at competitive prices. Cemvision’s planned investment in Ventspils demonstrates how green technologies can become a competitive advantage for industry: lower emissions mean reduced exposure to fluctuations in CO₂ allowance prices. For Latvia, this represents an opportunity to produce modern construction materials both for domestic needs and for export. The Nordic market is strategically important for Latvia. Earlier this year, I led a Latvian business trade mission to Sweden to establish new business partnerships and encourage investment that supports the shared growth of the Baltic and Nordic region. The value of investments like this extends far beyond the factory itself – they generate orders for Latvian companies, create new jobs and bring in export revenues, strengthening the economy as a whole,” emphasises Viktors Valainis, Latvia’s Minister of Economics.
In 2027, LIAA, together with the Ministry of Climate and Energy (KEM) and the Employers’ Confederation of Latvia (LDDK), plans to organise an in-person Innovation Fund information day. The event will provide Latvian companies with information about the Fund’s financing opportunities and application requirements. The date and registration details will be announced at a later stage.
