The Dutch Pension Fund for Healthcare and Welfare's (PFZW) investment in Dutch company Rift is on track to help reduce carbon emissions, after Rift and Kingspan Unidek signed the first commercial contract for the use of iron fuel in industry.

The contract between Rift and Kingspan has been highlighted by PFZW as an important step towards reducing CO2 emissions from the industry.

Rift's technology works with fine iron powder that burns in a boiler, which produces heat without direct CO₂ emissions.

The residual product is converted back into new fuel using hydrogen, creating a circular system.

After tests and demonstrations, the first application is now taking place in the Kingspan Unidek factory in Gemert, which mainly produces insulation material.

The technology is currently also being used in Helmond, where five hundred households are heated with it.

"The industry - which often uses a lot of fossil energy to make products - has great difficulty in becoming more sustainable," PFZW said.

"Iron fuel is a great solution for this: it is circular, safe to store and transport and easy to integrate into existing systems.

"Rift wants to continue to grow in the Netherlands and abroad in the coming years, with the support of PFZW and other investors. In this way, we make a positive contribution to society and ensure a good pension for our participants."

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