PARIS (dpa-AFX) - Veolia Environnement SA (VEOEY, VIE.PA), a French environmental service company, on Friday said it signed a partnership agreement with Science City Guangzhou Investment Group Co., Ltd. during President Emmanuel Macron's visit to China. The financial terms were not disclosed.
The initiative aims to demonstrate how industrial decarbonization can generate economic value, support China's dual-carbon goals, and offer a replicable model for low-carbon development in the Greater Bay Area.
The company said that the collaboration will focus on developing a decarbonization project in the Guangzhou Development Zone.
The project is designed to capture and utilize industrial flue gas and is expected to cut 200,000 tons of carbon emissions annually while supplying new energy to local enterprises.
The company will deploy its technologies to treat industrial emissions and ensure compliance with national and local standards.
An advanced waste-heat recovery system will convert thermal energy from flue gas into steam and electricity for use within the industrial park, thereby creating an integrated pollution control and energy recovery model.
On Thursday, Veolia Environnement closed trading 1.04% lesser at EUR 29.43 on the Paris Stock Exchange.
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