Dow to Invest $100M to Reduce Energy Use, GHG Emissions
The investment capital will be awarded to business units and manufacturing sites that present projects with the greatest impact in several key performance areas.
The Dow Chemical Company will accelerate energy efficiency and conservation improvements within its operations through an investment of $100 million in projects that will reduce energy usage and greenhouse gas (GHG) emissions.
“Dow has long been a recognized leader in industrial energy efficiency and carbon management and this investment will spark further opportunities for energy conservation,” said Doug May, vice president, Energy and Climate Change. “The commitment of these funds will enable new projects that offer exceptional financial returns and significant energy and emissions benefits.”
The $100 million in investment capital will be awarded to Dow business units and manufacturing sites that present projects with the greatest impact in several key performance areas, including reductions in energy use and greenhouse emissions and accelerated cost savings. To date, Dow business units have submitted around 60 projects, with a net present value totaling more than $500 million, nearly 8 trillion BTUs of energy savings and a reduction of more than 400 thousand metric tons of CO2 emissions.
From 1994 to 2010, Dow has saved 1,800 trillion Btu, which is the energy equivalent to powering all residential buildings throughout California for more than one-and-a-half years. The company’s energy efficiency efforts have prevented more than 95 million metric tons of carbon dioxide, a greenhouse gas, from entering the atmosphere and have contributed cost savings of $9.4 billion.
Dow was recognized with four 2010 American Chemistry Council Responsible Care Energy Efficiency Awards for programs that improved energy efficiency at three of its U.S. facilities, including Exceptional Merit awards for Freeport, Texas and Houston Dow Center, as well as West Alexandra, Ohio.
Source: Dow Chemical Co.