Kadant Achieves Goal of Sourcing 100% of its Electricity from Renewable Resources
Kadant Inc. (NYSE: KAI) announced on September 30, 2021, that it achieved its 2021 climate goal of sourcing 100% of its electricity from renewable sources. This initiative involved purchasing renewable energy certificates, eliminating greenhouse gas emissions from electricity usage and reducing its global greenhouse gas footprint by 30% compared to 2020 levels. CEO Jeffrey L. Powell emphasized the company's ongoing commitment to sustainability while helping customers use renewable resources efficiently.
- Achieved 100% renewable electricity sourcing for operating sites worldwide.
- Reduced greenhouse gas emissions from electricity by 30% compared to 2020.
- None.
WESTFORD, Mass., Sept. 30, 2021 (GLOBE NEWSWIRE) -- Kadant Inc. (NYSE: KAI) announced it has achieved one of its 2021 climate goals of sourcing 100 percent of the electricity it uses from renewable sources for its operating sites worldwide. The Company purchased renewable energy certificates, representing electricity generated from renewable resources, covering all non-renewable electricity usage across all its businesses. As a result, Kadant’s greenhouse gas emissions related to electricity usage have been eliminated and its global greenhouse gas footprint from all sources has dropped 30 percent compared to 2020 levels.
“This achievement was the next step in our ongoing sustainability commitment to move away from traditional sources of electricity generation and supporting cleaner renewable energy alternatives,” said Jeffrey L. Powell, president and chief executive officer of Kadant. “I am proud of the progress our businesses have been making to further reduce our energy consumption while helping our customers efficiently use renewable natural resources in their manufacturing processes.”
Kadant’s most recent corporate sustainability report can be viewed at www.kadant.com/about-us/sustainability. The report highlights the Company’s continued commitment and progress on environmental, social, and governance (ESG) initiatives.
About Kadant
Kadant Inc. is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company’s products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. Kadant is based in Westford, Massachusetts, with approximately 2,900 employees in 21 countries worldwide. For more information, visit www.kadant.com.
Safe Harbor Statement
The following constitutes a “Safe Harbor” statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements that involve a number of risks and uncertainties, including forward-looking statements about our products, technologies, and markets. These forward-looking statements represent our expectations as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results to differ materially from these forward-looking statements as a result of various important factors, including those set forth under the heading "Risk Factors" in Kadant’s annual report on Form 10-K for the fiscal year ended January 2, 2021 and subsequent filings with the Securities and Exchange Commission. These include risks and uncertainties relating to the impact of the COVID-19 pandemic on our operating and financial results; adverse changes in global and local economic conditions; the variability and difficulty in accurately predicting revenues from large capital equipment and systems projects; health epidemics; our acquisition strategy; levels of residential construction activity; reductions by our wood processing customers of their capital spending or production of oriented strand board; changes to the global timber supply; development and use of digital media; cyclical economic conditions affecting the global mining industry; demand for coal, including economic and environmental risks associated with coal; failure of our information systems or breaches of data security and cybertheft; implementation of our internal growth strategy; price increases or shortages of raw materials; competition; changes in our tax provision or exposure to additional tax liabilities; our ability to successfully manage our manufacturing operations; disruption in production; future restructurings; loss of key personnel and effective succession planning; protection of intellectual property; climate change; adequacy of our insurance coverage; global operations; policies of the Chinese government; the variability and uncertainties in sales of capital equipment in China; currency fluctuations; economic conditions and regulatory changes caused by the United Kingdom’s exit from the European Union; changes to government regulations and policies around the world; compliance with government regulations and policies and compliance with laws; environmental laws and regulations; environmental, health and safety laws and regulations impacting the mining industry; our debt obligations; restrictions in our credit agreement and note purchase agreement; substitution of an alternative index for LIBOR; soundness of financial institutions; fluctuations in our share price; and anti-takeover provisions.
Contacts
Investor Contact Information:
Michael McKenney, 978-776-2000
IR@kadant.com
or
Media Contact Information:
Wes Martz, 269-278-1715
media@kadant.com
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