II-VI Incorporated Significantly Reduces Its Global Carbon Footprint with Renewable Energy Contracts in the United States

Rhea-AI Summary

II-VI Incorporated (Nasdaq: IIVI) has signed renewable energy contracts for nine U.S. sites, committing to 100% renewable electricity. These agreements will provide 20 million kWh annually and avoid 5,000 metric tons of CO₂ emissions. II-VI now sources approximately 30% of its electricity from renewables and aims to increase this annually. This announcement aligns with International Mother Earth Day and highlights II-VI's commitment to sustainability.

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• Signed contracts for 100% renewable electricity at nine U.S. sites.
• Will avoid 5,000 metric tons of CO₂ emissions annually.
• Currently sources about 30% of electricity from renewable sources.

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• None.

PITTSBURGH, April 22, 2022 (GLOBE NEWSWIRE) -- II‐VI Incorporated (Nasdaq: IIVI), a global leader in engineered materials and optoelectronic components, today announced that it has signed renewable energy contracts for powering nine of its sites in the United States with 100% renewable electricity. These new agreements represent 20 million kWh of renewable electricity per year, thereby avoiding an additional 5,000 metric tons of CO₂ emissions annually.

II-VI has set as a top priority to reduce its carbon footprint across its global operations. Including today’s announcement, II-VI has entered into renewable electricity contracts for over 30 sites around the world, including more than two dozen that now cover 100% of their annual electricity usage with renewable sources.

“With these agreements, we now purchase approximately 30% of our electricity from renewable sources. We expect to continue to increase our renewable energy purchases every year, and we are delighted to make this announcement in conjunction with International Mother Earth Day as part of our commitment to increase the sustainability in our energy supply across our global footprint,” said Gary Kapusta, Chief Shared Services and Supply Chain Officer.

The sites announced today range from some of II-VI’s most advanced manufacturing sites and some small engineering offices to multiple facilities across the U.S. in California, Oregon, New Jersey, and New York. II-VI announced in October 2021 that it is powering all of its facilities in Europe with 100% renewable electricity sources, and in January 2022 that its largest plant in China would be powered with 100% renewable electricity sources within four years.

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 renewable energy contracts has IIVI announced?

IIVI has signed renewable energy contracts for nine sites in the U.S. to source 100% renewable electricity.

How much CO2 emissions will IIVI avoid with the new renewable contracts?

IIVI will avoid 5,000 metric tons of CO2 emissions annually with the new agreements.

What percentage of electricity does IIVI currently source from renewable energy?

IIVI currently sources approximately 30% of its electricity from renewable sources.

When was IIVI's renewable energy announcement made?

The renewable energy announcement was made on April 22, 2022, coinciding with International Mother Earth Day.