Heracles Group Announces €600 Million Investment Plan by 2029

The Heracles Group has announced a total investment of €600 million by 2029, as stated by Demetris Chanis, the Managing Advisor of the Group, during the launch of a recycling campaign with the Attica Region on March 19, 2025. Over the past six to seven years, the group invested between €60-70 million in its facilities to develop alternative materials. Significant investments are planned for reducing carbon footprints, particularly in Volos and Aliveri, amounting to €150-170 million. By the end of 2028, 90% of the company’s thermal energy will come from alternative fuels. In 2024 alone, the company recycled approximately 480,000 tons of materials. The Group entered the recycling sector in 2019 through Geocycle Hellas, which secures alternative raw materials and fuels. Additionally, in 2022, it ventured into construction waste management. The company aims to replace solid fossil fuels with alternatives, achieving nearly 50% thermal energy from such materials in Volos and Aliveri. A key project involves a €400 million investment in carbon capture and storage at the Aliveri plant, transforming it into a zero-carbon facility by early 2029. Furthermore, the Group plans to inaugurate two photovoltaic parks and continue electrifying its fleet. For 2024, the Group’s turnover reached €460 million, marking a 9% increase from 2023, with EBITDA at €67 million. Positive forecasts are expected for 2025 due to increased construction activity.