Orion Engineered Carbons Releases 2021 Sustainability Report
HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons (NYSE: OEC), a global specialty chemicals company, today released its 2021 Sustainability Report, showcasing progress the company is making in implementing its sustainability strategy with initiatives focused on advancing the circular economy, renewable feedstocks and electrification.
The report outlines how Orion is transforming its product portfolio to reflect sustainability in its business strategy. This exemplifies how companies like Orion that produce essential products are actively seeking innovative ways to realize circularity, promote electrification and reduce their carbon footprint.
“We have incorporated environmental, social and governance (ESG) principles into our management framework,” Orion CEO Corning Painter said. “Our strategy is designed to deliver value-adding solutions that will have a meaningful impact on our industry.”
Orion’s key sustainability accomplishments in 2021 include:
- Launching ECORAX Nature 105, the first product made from 100% renewable feedstock and designed for rubber applications.
- Becoming one of the first public companies in the U.S. to take out a sustainability-linked term loan, with favorable interest rates tied to the company’s success in meeting certain emissions-reduction targets at its U.S. plants.
- Developing a roadmap — with milestones in 2025, 2030 and 2035 — for the development of sustainable solutions in the company’s portfolio, paving the way to transform into a sustainable business model.
“We’ve recently announced our aspirations to reach net-zero emissions by 2050. Our Sustainability Report shows that with our portfolio of approaches, Orion is well positioned to confront some of the most pressing challenges of our era,” Painter said. “The conductive additives we produce are vital for electric vehicles and energy storage. As one of the leading innovators in tire recycling, we are also committed to supporting the transition to a circular economy.”
About Orion Engineered Carbons
Orion Engineered Carbons (NYSE: OEC) is a leading global supplier of carbon black, a solid form of carbon produced as powder or pellets. The material is made to customers’ exacting specifications for tires, coatings, ink, batteries, plastics and numerous other specialty, high-performance applications. Carbon black is used to tint, colorize, provide reinforcement, conduct electricity, increase durability, and add UV protection. Orion has innovation centers on three continents and 14 plants worldwide, offering the most diverse variety of production processes in the industry. The company’s corporate lineage goes back more than 160 years to Germany, where it operates the world’s longest-running carbon black plant. Orion is a leading innovator, applying a deep understanding of customers’ needs to deliver sustainable solutions. For more information, please visit orioncarbons.com.
Forward-Looking Statements
This document contains certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements of future expectations that are based on current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement. New risk factors and uncertainties emerge from time to time and it is not possible to predict all risk factors and uncertainties, nor can we assess the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information, other than as required by applicable law.
Contacts
William Foreman
Director of Corporate Communications and Government Affairs
Orion Engineered Carbons
Direct: +1 832-445-3305
Mobile: +1 281-889-7833
william.foreman@orioncarbons.com
Wendy Wilson
Head of Investor Relations
Orion Engineered Carbons
Direct: +1 281-974-0155
