Orion Announces Ambition to Achieve Net-Zero Carbon Emissions by 2050
HOUSTON–(BUSINESS WIRE)–Orion Engineered Carbons (NYSE: OEC), a specialty chemicals company, announced today it aspires to align its sustainability objectives with the Paris Climate Agreement and strive to achieve net-zero emissions of greenhouse gases by 2050.
To make its net-zero aspirations realistic, Orion developed a roadmap with near- and long-term targets. The company aspires to:
- Launch a broad range of products using recycled materials by 2025 and during the same period position the company to enlarge its footprint in the conductive additives space, such as in lithium-ion batteries for electric vehicles and other applications critical for the transition toward electric power.
- Generate 30% of its adjusted EBITDA through sustainable solutions by 2030.
- Grow the sustainable solutions’ share of adjusted EBITDA to 50% by 2035.
- Set new aspirational mid-term goals for greenhouse-gas emissions reduction that are aligned with science-based methodologies.
The net-zero ambition demonstrates Orion’s ongoing commitment to address global climate change while meeting customers’ needs for highly engineered materials essential for tires, coatings, batteries and numerous other everyday products.
“We know our goal is ambitious and we want to make sure it’s meaningful. Like most companies, we can’t say we have all the answers now. But we’re determined to work hard to find sustainable solutions with collaboration, innovation and the right regulatory environment,” said Corning Painter, Orion’s CEO.
“Our ambition to align with the Paris Climate Agreement is a natural progression in our sustainability journey. Investing in sustainability is core to our growth strategy and key to our success as a business,” Painter added.
For more information about OEC’s sustainability performance and initiatives, visit Orion Engineered Carbons – Sustainability – Sustainability Roadmap (orioncarbons.com).
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
Wendy Wilson
Head of Investor Relations
Orion Engineered Carbons
Mobile: +1 281-974-0155
wendy.wilson@orioncarbons.com
William Foreman
Director of Corporate Communications and Government Affairs
Orion Engineered Carbons
Mobile: +1 281-889-7833
william.foreman@orioncarbons.com
