Cunext Secures €30 Million for Green Copper Production Project
The Ministry of Industry and Tourism has granted €30 million from the PERTE for industrial decarbonization to Cunext in Córdoba to support green copper production through recycling. The project also received an additional €5.3 million in incentives from the Regional Government of Andalusia. Banco Sabadell has established a €12 million confirming line linked to sustainability, benefiting the project's supply chain.
The Cunext Group is constructing Spain's first green copper factory, located four kilometers from its current facilities in Córdoba. With an initial investment of €120 million, the new factory will have the capacity to produce 100,000 tons of copper annually from recycled materials. The facility is expected to be operational by March 2026, creating 80 jobs.
The factory will supply strategic sectors, including the automotive industry—particularly electric vehicle manufacturing—as well as the transport and electricity sectors, covering both conventional and renewable energy. The production process will focus on producing grade A copper cathodes, containing 99.99% copper, from scrap materials. This will allow Cunext to reduce its reliance on primary copper sourced from mining operations, which is currently used for manufacturing wire rods.
In July 2023, Cunext Copper Industries secured €150 million in financing through a sustainable syndicated factoring contract with Banco Santander to support its treasury needs efficiently. Banco Sabadell has also backed Cunext’s supply chain, offering favorable financing conditions to suppliers that meet sustainability requirements.
The Director of Large Companies at Banco Sabadell, Beatriz Hurtado de Gracia, emphasized the bank's commitment to sustainability as a core corporate strategy. Recently, Banco Sabadell launched the first sustainable synthetic securitization on a portfolio of €1.1 billion in loans to renewable energy projects, with €110 million already placed. The bank aims to mobilize €65 billion in sustainable finance between 2021 and 2025, with over €51 billion already contributed by mid-2024.
