II-VI Incorporated Powers All its European Sites with 100% Renewable Electricity

Rhea-AI Summary

II-VI has announced that it is now powering all its European facilities with 100% renewable electricity. This initiative spans across 12 sites in six countries, covering 615,000 square feet. II-VI is purchasing approximately 38 million kWh annually, reducing annual CO₂ emissions by around 5,800 metric tons. Globally, 14 of 24 sites utilize renewable sources, accounting for over 20% of the company's electricity needs in the U.S. and Europe, with plans for further expansion into Asia.

Positive

• Transition to 100% renewable electricity in Europe enhances corporate sustainability image.
• Elimination of approximately 5,800 metric tons of CO2 emissions annually supports environmental commitments.

Negative

• None.

PITTSBURGH, Oct. 19, 2021 (GLOBE NEWSWIRE) -- II‐VI Incorporated (Nasdaq: IIVI), a global leader in engineered materials and optoelectronic components, today announced that it is powering all its facilities in Europe with 100% renewable electricity sources.

The renewable electricity is supplied to II-VI’s manufacturing operations, research and development sites, and sales offices throughout six European countries (Belgium, Germany, Italy, Sweden, Switzerland, and the U.K.), encompassing 615,000 square feet, or 57,000 square meters, of facility space across 12 sites. To power its footprint across Europe, II-VI is purchasing approximately 38 million kilowatt-hours (kWh) per year of renewable electricity, and thereby eliminating about 5,800 metric tons of CO₂ emissions each year.

“II-VI has made it a top priority to reduce its carbon footprint across its global operations,” said Dr. Karlheinz Gulden, Senior Vice President, Laser Devices and Systems Business Unit. “This is elating news for our employees not only in Europe, but also around the world to know that we have achieved this important milestone and to be working for a company that not only supports but actively works towards long-term sustainability through tangible actions.”

Globally, II-VI has entered into renewable-electricity contracts for 24 sites, including 14 of them now covering 100% of their annual electricity usage from renewable sources. Over 20% of II-VI’s global electricity needs are now being supplied by renewable sources across the U.S. and Europe. The percentage of renewable electricity powering II-VI’s operations is expected to grow annually and, in the future, include the company’s major manufacturing sites in Asia.

About II-VI Incorporated

II-VI Incorporated, a global leader in engineered materials and optoelectronic components, is a vertically integrated manufacturing company that develops innovative products for diversified applications in communications, industrial, aerospace & defense, semiconductor capital equipment, life sciences, consumer electronics, and automotive markets. Headquartered in Saxonburg, Pennsylvania, the Company has research and development, manufacturing, sales, service, and distribution facilities worldwide. The Company produces a wide variety of application-specific photonic and electronic materials and components, and deploys them in various forms, including integrated with advanced software to support our customers. For more information, please visit us at www.ii-vi.com.

CONTACT:		Mark Lourie
		Vice President, Corporate Communications
		corporate.communications@ii-vi.com
		www.ii-vi.com/contact-us

FAQ

What recent sustainability initiative has II-VI announced for its European facilities?

II-VI has announced that all its facilities in Europe are now powered by 100% renewable electricity.

How much renewable electricity is II-VI purchasing annually for its European operations?

II-VI is purchasing approximately 38 million kilowatt-hours (kWh) of renewable electricity per year.

What is the expected reduction in CO2 emissions from II-VI's renewable electricity initiative?

The initiative is expected to eliminate about 5,800 metric tons of CO2 emissions each year.

Which countries in Europe are included in II-VI's renewable electricity program?

The initiative covers facilities in Belgium, Germany, Italy, Sweden, Switzerland, and the U.K.

What percentage of II-VI's global electricity needs are met by renewable sources?

Over 20% of II-VI's global electricity needs are currently supplied by renewable sources.