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Sleep Number Announces Ongoing Sustainability Initiatives
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Sleep technology leader to convert many of its real estate locations to solar energy.
MINNEAPOLIS--(BUSINESS WIRE)--
Today Sleep Number Corporation (Nasdaq: SNBR), the sleep health, science, research and innovation leader, announced a new nationwide sustainability initiative. With a goal of building a more environmentally conscious company, Sleep Number is transitioning much of its operational footprint to renewable energy, advancing the company’s sustainability goals as a participant to the United Nations Global Compact.
Sleep Number is converting most of its locations to renewable energy, including its Minneapolis headquarters. (Photo: Business Wire)
Sleep Number expects to convert most of its 650 retail stores and distribution centers to solar energy. The initiative has already started in Sleep Number’s California assembly distribution center (ADC), Minneapolis headquarters and Minnesota ADC. Additional near-term projects include facilities in Texas, Florida and Ohio. The company is targeting 75% solar conversion, with approximately 20% of its energy usage converted to solar by the end of the year. The projected investment for this year is nearly $5 million.
Fellow Minnesota-based company Blue Horizon Energy will provide strategic support and execute the initiative. Because of the variety of real estate sizes and locations that Sleep Number occupies, Blue Horizon will design customized solar solutions that will meet Sleep Number’s needs. Sleep Number is working on additional sustainability initiatives following the solar project, which may include landfill reduction, lighting adjustments and others.
“Converting to solar energy is an important step in our dedication to improve the health and wellbeing of society,” said Shelly Ibach, President and CEO, Sleep Number. “Our ongoing ESG priorities are integrated into our strategy, culture, and operations, and are aligned with our pursuit of superior value creation that benefits all stakeholders. We are committed to sustainability and reducing our environmental footprint.”
“Becoming more energy efficient and reducing energy-related emissions is a priority for companies of all sizes. These changes are driven by demands from employees, consumers and other stakeholders for a less wasteful, more environmentally friendly economy,” says Griffin Dooling, CEO of Blue Horizon Energy. “For large organizations, moving toward clean energy can be challenging across a mixed-format, multi-state real estate portfolio. Our development team works with these organizations to evaluate and execute customized outcome-focused solutions. We’re proud to partner with Sleep Number on building a more sustainable future across their business.”
About Sleep Number
Individuality is the foundation of Sleep Number. Our purpose driven company is comprised of over 5,500 passionate team members who are dedicated to our mission of improving lives by individualizing sleep experiences. We have improved over 14 million lives and are positively impacting society’s wellbeing through higher quality sleep.
Our award-winning 360® smart beds are informed by science. They learn from over one billion sleep sessions of highly-accurate, real world sleep data – the cumulation of 14 billion hours’ worth - to automatically adjust to each sleeper and provide effortless comfort and proven quality sleep. Our 360 smart beds deliver individualized sleep health reports and insights, including a daily SleepIQ® score, and are helping to advance meaningful sleep health solutions by applying sleep science and research.
Statements used in this news release relating to future plans, events or performance, such as statements about plans to invest in renewable energy, are forward-looking statements subject to certain risks and uncertainties. Additional information concerning these and other risks and uncertainties is contained in the company’s filings with the Securities and Exchange Commission (SEC), including the Annual Report on Form 10-K, and other periodic reports filed with the SEC. The company has no obligation to publicly update or revise any of the forward-looking statements in this news release.
