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.
Dimitris Chanis, CEO of HERACLES Group said, "This collaboration with Air Liquide embodies a shared vision of two industry leaders that are committed to innovation and environmental responsibility. For HERACLES, 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."
HERACLES group, a leader in sustainable building materials in Greece, has selected Air Liquide 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.
The agreement represents a crucial milestone towards the FID (final investment decision) of the project. 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 procuring and construction phases.