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O-I Glass to Invest $65 Million in Electrification and Decarbonization in Veauche, France
OIO-I Glass(OI) Newsfilter·2024-06-18 11:15

Company Overview - O-I Glass, Inc. is a leading global producer of glass bottles and jars, emphasizing the sustainability and recyclability of glass as a packaging material [4] - The company is headquartered in Perrysburg, Ohio, and employs approximately 23,000 people across 68 plants in 19 countries, achieving revenues of 7.1billionin2023[4]SustainabilityInitiativesOIplanstoinvestapproximately7.1 billion in 2023 [4] Sustainability Initiatives - O-I plans to invest approximately 65 million in the electrification and decarbonization of its Veauche, France plant, which will be the first to utilize hybrid-flex technology [13] - The hybrid-flex technology allows for the replacement of up to 70% of conventional fossil-fuel-based energy with electricity, leading to a projected 43% reduction in onsite CO2 emissions compared to traditional furnaces [13][10] - The Veauche plant is expected to reduce its overall CO2 emissions by up to 35% compared to pre-2020 levels once the new investments are completed by December 2025 [11] Technological Advancements - The new hybrid furnace will feature a heat recovery system that will supply up to 94% of the plant's heating needs, enhancing energy efficiency [11] - The plant produces approximately 300 million bottles annually and leverages up to 87% recycled glass sourced locally, supporting a circular economy [15] Market Position - O-I Glass is recognized as a preferred partner for many leading food and beverage brands, focusing on innovation to meet customer needs [4] - The company aims to achieve a global target of a 25% reduction in greenhouse gas emissions by 2030 through its sustainability efforts [13]