Latest news with #PlanetPassionate
Irish Independent
18-06-2025
- Business
- Irish Independent
Kingspan inks deal for new carbon reduction technology
Dutch firm RIFT has developed its proprietary Iron Fuel Technology. The system sees iron powder combusted to generate high temperature heat without direct CO2 emissions. The resulting iron oxide is regenerated using hydrogen. RIFT has now signed a deal with Kingspan Unidek that will cover the delivery of an iron fuel boiler and long-term iron fuel supply. It marks the first time that the fossil-free fuel will be sold and used under a commercial agreement in industry. RIFT's iron fuel boiler will be installed at Kingspan Unidek's facility in Gemert, the Netherlands. The partnership is part of Kingspan's broader Planet Passionate sustainability programme, aimed at reducing carbon emissions throughout its operations "This isn't just a contract, it's a statement," said Mark Verhagen, CEO at RIFT. "Together with Kingspan Unidek, we're proving that clean industrial heat through iron fuel is ready for the market. This is the first time we are commercially delivering the technology, and the start of a much bigger shift." The company already has an operational 1 MW boiler system in Helmond in the Netherlands, supplying hot water to 500 households. RIFT heats water for the heat grid by burning iron powder. This creates a large flame that heats a boiler. No greenhouse gases are released in this process. The only residual product is rust, which can be converted back into iron powder RIFT is backed by public and private partners including PGGM, Invest-NL, and Bill Gates' Breakthrough Energy Fellows. By 2023, RIFT had secured €11m in funding. The company aims to expand capacity, scale deployments across Europe, and develop international projects.
RTÉ News
30-04-2025
- Business
- RTÉ News
Kingspan expects H1 trading profit growth after 'good' Q1
Insulation and building materials manufacturer Kingspan has reported a "good" first quarter despite what it called a sluggish start to the year due in the main to seasonal factors. In a trading update for the three months to the end of March and ahead of its AGM tomorrow, Kingspan said group sales rose by 9% to €2.1 billion, while they were "modestly" ahead on an underlying basis. The Co Cavan-based company said its European market overall recorded sales growth with reasonable activity in general. Kingspan added that while sales in the US have been understandably slow, order intake has been very strong, with the US orderbook currently at record levels. Meanwhile, Latin American sales were robust with the Middle East and India both started the year well. Kingspan said its trading outlook remains in reasonable shape overall with sentiment varying significantly by region. "We remain focussed on factors we can control in an environment where there is much background noise. With much of the second quarter remaining we expect to deliver overall trading profit growth in the first half," the company stated. "Overall, Kingspan's unrivalled spectrum of products, our strong innovation and development pipelines, and Planet Passionate agenda all position the group favourably for years ahead," it added.
