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Cemex Flat Despite Reaching 1,000-Truck Mark

Cemex (NYSE:CX) shares were virtually unchanged Monday, after it announced that it now has over 1,000 heavy-duty trucks powered with lower-carbon fuels as part of a comprehensive transition strategy seeking to decarbonize its global fleet. This initiative is part of the company’s flagship Future in Action program to become a net-zero CO2 company by 2050.

Cemex has made significant investments over the last two years in heavy-duty trucks powered by renewable diesel and natural gas. These efforts have resulted in a reduction of approximately 5% in CO2 emissions from its owned fleet. This aligns with Cemex’s commitment to reduce third-party transport emissions by 30% by 2030, compared to the 2020 baseline.

“Our net-zero transition is supported by proven and readily available lower-carbon technologies that guarantee that we meet our short and medium-term decarbonization commitments,” said Fernando A. González, CEO of Cemex. “At the same time, we remain at the forefront of innovation and emerging transportation technologies so we can achieve our ultimate goal of becoming a net-zero CO2 company by 2050.”

Earlier in 2023, Cemex announced that Volvo Trucks had supplied it with the world’s first fully electric and zero-emission heavy concrete mixer truck. Additionally, the company has completed several multi-country pilots using full electric ready-mix concrete trucks. Most recently, at COP28 in Dubai, Cemex unveiled a prototype of a fully electric mixer truck and expects to gradually continue introducing and testing new technologies.

CX shares lopped off six cents to $7.14.