EQS-News: PWO locations in China switch to green electricity

Press Release

PWO locations in China switch to green electricity
 

Carlo Lazzarini (CEO): Climate change is not just on its way it is already here. Now decisive action is needed to limit further warming of our planet. We are therefore switching our locations in China to green electricity by 2026.

• At the Suzhou location, a photovoltaic system with an estimated annual output of 400,000 kWh is to be installed
• The switch to green electricity will be further accelerated with other SBTi-recognized instruments
   

Oberkirch, August 28, 2023 The PWO Group is to install a photovoltaic system with an annual output of around 400,000 kWh of green electricity at its location in Suzhou, China. This system will help make the location less dependent on the fluctuating electricity prices on the market.

In addition, we will use other instruments recognized by the Science Based Targets initiative (SBTi) such as green electricity certificates in line with the I-REC standard for example to switch both locations to green electricity by 2026.

The PWO Groups ambitious climate protection targets

The locations in China are an important factor for reducing the greenhouse gas emissions of the entire PWO Group, as almost one-third of the Groups expected emissions in 2023 will come from the Chinese locations. PWO has already reduced its greenhouse gas emissions by almost 40% throughout the Group compared with the base year 2019. In line with its SBTi-validated climate protection targets, greenhouse gas emissions are to be reduced by 46.2% in Scope 1 & 2 and by 28.0% in Scope 3 by 2030. In this way, PWO is implementing the Paris Agreement on climate action.

The PWO locations in China

Since 2009, the 2 locations in China have been supplying the Asian production sites of our customers there. With revenue of EUR 52 million, they accounted for approximately one-tenth of the PWO Groups revenue in 2022. They supply our customers with our entire range of innovative product solutions in climate-friendly lightweight construction at the frontiers of what is technically possible and ensure local content with maximum delivery quality and reliability.

PWO AG

The Executive Board

Contact:
Charlotte Frenzel
Investor Relations & Corporate Communications
T. +49 179 6904 237
M. charlotte.frenzel.ext.ma@pwo-group.com