Acerinox stock advances decarbonization plan with IGNIS

Acerinox and energy company IGNIS are advancing two decarbonization projects at Acerinox's Campo de Gibraltar plant in Spain. The companies announced the initiative on October 20, with operations scheduled to begin in December 2028.

The plan combines a 12 MW industrial heat pump with a 120 MWh thermal energy storage system. Acerinox said the heat pump will recover waste heat from combustion gases at the hot rolling mill furnace, while the storage system will generate heat with electrical resistance during periods of more competitive power prices.

Lower emissions and energy use

The projects are designed to decarbonize steam production and improve energy efficiency. Acerinox expects them to avoid 18,500 tons of carbon dioxide emissions each year, equivalent to a 10% reduction at the plant, according to the company's announcement.

The thermal storage system will supplement recovered heat and provide backup steam during scheduled heat-pump downtime. Acerinox said the initiative forms part of Acerinox Europa's long-term improvement plans, linking emissions reduction with the competitiveness of the industrial site.

Funding supports the investment

IGNIS will cover the initial investment of nearly 40 million euros under the service model. The projects have also received 19.3 million euros in grants through Spain's Institute for the Diversification and Saving of Energy, with co-financing from the European Regional Development Fund.

Acerinox stock traded at 15.51 euros on Lang & Schwarz at 17:38 CET on Thursday, November 5, 2026. The real-time quote of Acerinox stock is available separately.

Spain's industrial and equity market backdrop remains relevant for investors following the IBEX 35.

Further developments at the plant, including the scheduled 2028 commissioning, will shape the longer-term efficiency and emissions profile of Acerinox's European operations. More news and analyses on Acerinox stock are available here.