Cabot Corporation Announces Acquisition of Solar Farm in Chiba, Japan
Cabot Corporation (NYSE: CBT) has acquired the Chiba solar farm from Shoko Co., Ltd., located in Chiba, Japan. This facility will contribute to Cabot's sustainability goals by enabling the export of approximately 3,500 megawatt-hours (MWh) of renewable energy each year, enough to power over 700 homes. This acquisition supports Cabot's commitment to exporting double the energy it imports by 2025, with the recent energy ratio reaching 233%. Cabot aims for net zero emissions by 2050 and has invested in energy recovery systems, generating about 172,000 MWh annually from heat recovery. These efforts align with its sustainability objectives and have earned the company several accolades for environmental responsibility.
- Acquisition of Chiba solar farm enhances renewable energy capacity.
- Facilitates export of 3,500 MWh of electricity annually.
- Achieved an energy export ratio of 233%, supporting sustainability goals.
- Investments in energy recovery systems generate 172,000 MWh annually.
- None.
Investment in renewable energy supply furthers company’s sustainability agenda
While many companies are working hard simply to reduce the amount of electricity they import, one of Cabot’s 2025 global sustainability goals is to export twice the amount of energy that it imports. To help achieve this goal, Cabot recovers, uses and exports energy from its manufacturing processes to reduce its own emissions as well as reduce the net emissions of nearby businesses and communities and aid in the global transition to a lower carbon future. To further its efforts, Cabot looks to incorporate renewable energy sources into its network. With the acquisition of the
To work towards achieving this goal and continue to make improvements to the environment, Cabot has also invested in energy recovery systems across its network that reduce greenhouse gas emissions from its own production processes and aid in lowering the net emissions of neighboring businesses and communities. These investments include energy centers that produce power by converting recovered heat into useful energy, promoting circularity in its processes. By utilizing energy co-generation such as this, Cabot’s energy centers located in
“Over the years we have incorporated a number of initiatives to reduce our energy consumption and harness energy from our processes by installing energy centers to produce power without creating any additional emissions. As we pursue a net zero future we will need to continue to expand and diversify energy sources,” said
Cabot continues to demonstrate its ongoing commitment to protect the planet and further the company’s sustainability journey with an ambition to achieve net zero emissions by 2050 globally. The company has earned several accolades for its sustainability performance including a platinum rating from
For more information about Cabot’s sustainability agenda, visit cabotcorp.com/sustainability.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in the press release regarding Cabot's business that are not historical facts are forward looking statements that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K.
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