Hanne Lamberts-Van Assche is a PhD student at the research group Environmental Economics. During her PhD, she analyses the economic feasibility and the environmental impact of a novel technology that captures CO2 and converts it into valuable products. Hence, CO2 should no longer be seen as a waste product but can be used as a feedstock instead. However, this Carbon Capture and Utilization (CCU) technology still struggles with a high level of uncertainty. Real Options Analysis is applied to include these uncertainties in the investment decision for CCU in the cement industry.