Avantor® Joins Pharmaceutical Industry-Sponsored Energize Virtual Power Purchase Agreement
Reflects Growing Commitment to Renewable Energy Sources
- Energize virtual power purchase agreement will provide the equivalent of 25GWh of renewable energy annually beginning in 2026
- Avantor continues to implement global solar installations, with more planned in 2025
RADNOR, Pa., Sept. 25, 2024 /PRNewswire/ -- Avantor, Inc. (NYSE:AVTR), a leading global provider of mission-critical products and services to customers in the life sciences and advanced technologies industries, has entered into a 10-year virtual power purchase agreement through the Energize program, a first of its kind initiative to increase access to renewable energy for pharmaceutical supply chains.
"This partnership reflects Avantor's continued commitment to reducing our greenhouse gas footprint while supporting the pharmaceutical industry in its quest to build a more sustainable supply chain infrastructure," said Michael Stubblefield, Avantor President and CEO. "The Energize virtual power purchase agreement is not only an important step in our long-term decarbonization strategy, but it also lowers the cost to power our supply chain."
As a participant in the first cohort to come out of the Energize Program, Avantor is supporting the development of three new solar projects in Spain, which will deliver new renewable electricity capacity to the European market. Expected to come online in 2026, the project will cover Avantor's European operations with 25GWh of renewable energy annually for 10 years. This represents an estimated 17,465 metric tons of CO2 avoided, or the equivalent of 2,278 households' annual energy consumption for one year*.
The Energize Program is just one way in which Avantor is investing in renewable energy. The company recently completed solar array installations at sites in Singapore, India, Sweden, and upstate New York, with two more locations in New Jersey expected to be completed this year. These are part of a pipeline of additional on-site solar projects in North America, Europe and Asia designed to help the Company meet its 2030 emissions reduction targets.
Read more about Avantor's solar projects in Singapore, India and New York here.
*Source: EPA Greenhouse Gas Emissions Equivalency Calculator
About Avantor
Avantor® is a leading life science tools company and global provider of mission-critical products and services to the life sciences and advanced technology industries. We work side-by-side with customers at every step of the scientific journey to enable breakthroughs in medicine, healthcare, and technology. Our portfolio is used in virtually every stage of the most important research, development and production activities at more than 300,000 customer locations in 180 countries. For more information, visit avantorsciences.com and find us on LinkedIn, X (Twitter) and Facebook.
About Energize
The Energize program is a supply chain renewables initiative designed and delivered by Schneider Electric Sustainability Business and endorsed by the Pharmaceutical Supply Chain Initiative (PSCI).
Current Energize sponsor companies include: Almirall, Amgen, AstraZeneca, Bayer, Boehringer Ingelheim, Bristol Myers Squibb, Charles River Laboratories, Chiesi Group, GSK, Haleon, Johnson & Johnson, Kenvue, Merck (known as MSD outside the United States and Canada), Merck KGaA, Darmstadt, Germany, Novartis, Novo Nordisk, Pfizer, Roche, Sandoz, Sanofi, Schott, Takeda, Teva, and UCB.
Global Media Contact
Eric Van Zanten
Head of External Communications
Avantor
610-529-6219
[email protected]
Investor Relations Contact
Christina Jones
Vice President, Investor Relations
Avantor
805-617-5297
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SOURCE Avantor and Financial News