II-VI Incorporated Significantly Reduces Its Global Carbon Footprint with Renewable Energy Contracts in Asia

Rhea-AI Summary

II-VI Incorporated (Nasdaq: IIVI) has signed renewable energy contracts to power several sites in Asia using 100% renewable electricity, representing 35 GWh of renewable energy and avoiding around 18,000 metric tons of CO₂ emissions annually. This initiative supports II-VI's commitment to sustainability and reducing its carbon footprint. With these new agreements, II-VI now sources approximately 38% of its electricity from renewable sources, covering over 40 sites globally with renewable energy contracts.

Positive

• Signed renewable energy contracts for multiple sites in Asia.
• Will avoid approximately 18,000 metric tons of CO2 emissions annually.
• Total renewable electricity sourced has increased to approximately 38%.

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• None.

PITTSBURGH, June 09, 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 multiple sites throughout Asia with 100% renewable electricity. These new agreements represent 35 GWh of renewable electricity per year, thereby avoiding an additional 18,000 metric tons of CO₂ emissions annually. The agreement covers II-VI sites in India, the Philippines, Vietnam, China, and Japan.

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 40 sites around the world, including over 35 sites that now cover 100% of their annual electricity usage with renewable sources.

“II-VI now purchases approximately 38% of our electricity from renewable sources,” said Tim Challingsworth, Chief Sustainability Officer. “This announcement is an important next step in fulfilling our commitment to steadily reduce our carbon footprint position around the globe.”

II-VI announced on Earth Day 2022 (April 22) that nine of its U.S. sites will now cover 100% of their annual electricity usage with renewable sources. In October 2021, it announced that it was 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 renewable energy contracts did II-VI sign in June 2022?

II-VI signed renewable energy contracts for multiple sites in Asia, which will supply 35 GWh of renewable electricity per year.

How much CO2 emissions will II-VI avoid with its new contracts?

II-VI's new renewable energy contracts will help avoid approximately 18,000 metric tons of CO2 emissions annually.

What percentage of II-VI's electricity comes from renewable sources?

As of June 2022, II-VI sources approximately 38% of its electricity from renewable sources.

Which countries are involved in II-VI's renewable energy efforts?

II-VI's renewable energy contracts cover sites in India, the Philippines, Vietnam, China, and Japan.

How does II-VI plan to reduce its carbon footprint?

II-VI has prioritized energy reduction and sustainability, including contracts for over 40 sites to utilize renewable energy.