Array Technologies Publishes 4th Annual Sustainability Disclosures

Rhea-AI Summary

Array Technologies (NASDAQ: ARRY), a leading provider of tracker solutions for utility-scale solar energy projects, has released its fourth annual ESG and sustainability disclosures. The company made significant progress towards its Environmental, Social, and Governance goals in fiscal year 2023.

Key highlights include:

• Increased renewably sourced electricity in operations to 31%, up from 25% the previous year
• Achieved a 27% reduction in total recordable incident rate (TRIR)
• Continued to reduce direct emissions intensity
• Made progress in recruiting diverse candidates for middle management roles
• Maintained strong compliance in business ethics and cybersecurity
• Enhanced supplier engagement to improve supply chain data and due diligence

CEO Kevin G. Hostetler emphasized the company's commitment to sustainability as a core part of its business strategy, focusing on positive economic impact and environmental performance.

The company continued to make great strides towards its Environmental, Social and Governance (ESG) goals including increasing renewably sourced electricity operations to 31% in fiscal year 2023

ALBUQUERQUE, N.M., July 16, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, has published its fourth annual ESG and sustainability disclosures in line with the company’s ongoing commitment to customers, investors, and key stakeholders to generate energy with integrity.

Array’s 2023 ESG & Sustainability disclosures can be found here.

“Sustainability remains a foundational part of our business strategy, ensuring we do right by our people and the communities we serve,” said Kevin G. Hostetler, chief executive officer of Array Technologies. “As a business with deep roots in the U.S. renewable energy market and a growing global presence, we continue to find ways to improve our economic impact and environmental performance to align with our customers and other key stakeholders. We are working with our suppliers and customers to continue building a robust and resilient clean energy ecosystem to meet global demand, while striving to be an employer of choice and a community leader.”

The disclosures contain notable highlights and progress updates, including:

• Renewable Electricity Usage: Increased renewably sourced electricity in operations to 31%, up from 25% the previous year.
• Employee Safety: Achieved a 27% reduction in total recordable incident rate (TRIR) from the previous year through enhanced employee safety training and policies.
• Emission Reductions: Continued to drive down direct emissions intensity through renewable energy sourcing and operational efficiency.
• Diversity and Inclusion: Made notable progress in recruiting diverse candidates within middle management roles, advancing towards its 2025 goals.
• Ethics and Cybersecurity: Strong compliance performance across business ethics and cybersecurity procedures.
• Supply Chain Engagement: Enhanced supplier engagement to improve supply chain data and due diligence.
  

About Array

Array Technologies (NASDAQ: ARRY) is a leading American company and global provider of utility-scale solar tracker technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Topics that may be deemed material under the SASB standards, GRI standards and/or Task Force on Climate-Related Financial Disclosures (TCFD) standards are not necessarily material for purposes of the U.S. federal securities laws or for other purposes. For additional information on the SASB standards, the GRI standards or the TCFD standards, please visit their respective websites. Certain of the data contained in this report is based on assumptions and estimates. Actual results may differ from the data presented.

Media Contact
Nicole Stewart
480-208-0794
nicole.stewart@arraytechinc.com

Investor Relations Contact
Array Technologies, Inc.
Investor Relations
investors@arraytechinc.com

FAQ

What progress did Array Technologies (ARRY) make in renewable electricity usage in 2023?

Array Technologies increased its renewably sourced electricity in operations to 31% in fiscal year 2023, up from 25% the previous year.

How did Array Technologies (ARRY) improve employee safety in 2023?

Array Technologies achieved a 27% reduction in total recordable incident rate (TRIR) from the previous year through enhanced employee safety training and policies.

What steps did Array Technologies (ARRY) take to enhance diversity and inclusion in 2023?

Array Technologies made notable progress in recruiting diverse candidates within middle management roles, advancing towards its 2025 diversity and inclusion goals.

How is Array Technologies (ARRY) addressing supply chain sustainability?

Array Technologies enhanced supplier engagement to improve supply chain data and due diligence, as part of its efforts to build a robust and resilient clean energy ecosystem.

What is Array Technologies' (ARRY) approach to business ethics and cybersecurity?

Array Technologies reported strong compliance performance across business ethics and cybersecurity procedures in its 2023 ESG and sustainability disclosures.