In anticipation of Earth Day tomorrow, Corning Incorporated (NYSE: GLW) announced today that two of its domestic manufacturing facilities achieved the U.S. Environmental Protection Agency’s ENERGY STAR® Challenge for Industry.
“Hundreds of companies across the country are making their industrial sites more efficient and reducing carbon emissions with ENERGY STAR,” said Jean Lupinacci, director of the EPA’s Climate Protection Partnerships Division. “The actions of companies like Corning and others in the ENERGY STAR Challenge for Industry set strong examples for others to follow. Through their achievements, these companies have collectively saved more than 73 trillion British thermal units – a tremendous accomplishment!”
Corning Life Sciences’ facility in Oneonta, and Corning Environmental Technologies’ facility in Blacksburg, Virginia, increased energy efficiency by 14.3 and 10.7 percent respectively within three years. To meet the challenge, industrial sites had to achieve an energy efficiency gain of at least 10 percent in five years or less.
“Sound energy management is one of the ways that we honor our commitment to being good corporate citizens,” said Wendell P. Weeks, Corning’s chairman, chief executive officer, and president. “We’re proud not only of the overall company’s ongoing improvement, but also of our manufacturing plants’ resourcefulness in identifying strategies to reduce their energy consumption. Our people are committed to doing their part and it’s making a real difference.”
To meet energy-saving goals, Corning’s Global Energy Management (GEM) program researches and implements projects at each of Corning’s manufacturing plants worldwide. GEM’s strategy includes installing LED lighting, using more efficient equipment, changing set points, maximizing asset utilization, reducing compressed air leakage, and spreading awareness of the importance of saving energy.
Since Corning created its GEM program in 2006, the company has:
- Earned recognition as an ENERGY STAR Partner of the Year in 2014, 2015, 2016, and 2017.
- Delivered more than $454 million in savings for the company.
- Cut Corning’s greenhouse gas emissions by 1.89 million metric tons, equivalent to the carbon dioxide emissions from approximately 199,500 homes in the U.S. over a one-year period.
“Having just announced Corning’s 2017 ENERGY STAR Partner of the Year award, adding two more plants to our list of Challenge for Industry achievers is especially exciting,” said Patrick Jackson, director of Corning’s GEM program. “The energy-saving efforts from these plants, as well as every one of Corning’s facilities, directly impacted our fourth Partner of the Year recognition. Saving energy isn’t just good business sense. It also helps preserve our environment and its natural resources. Toward this goal, we hope to make every one of our sites ENERGY STAR Challenge for Industry achievers.”
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the effect of global political, economic and business conditions; conditions in the financial and credit markets; currency fluctuations; tax rates; product demand and industry capacity; competition; reliance on a concentrated customer base; manufacturing efficiencies; cost reductions; availability of critical components and materials; new product commercialization; pricing fluctuations and changes in the mix of sales between premium and non-premium products; new plant start-up or restructuring costs; possible disruption in commercial activities due to terrorist activity, armed conflict, political or financial instability, natural disasters, adverse weather conditions, or major health concerns; adequacy of insurance; equity company activities; acquisition and divestiture activities; the level of excess or obsolete inventory; the rate of technology change; the ability to enforce patents; product and components performance issues; retention of key personnel; stock price fluctuations; and adverse litigation or regulatory developments. These and other risk factors are detailed in Corning’s filings with the Securities and Exchange Commission. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
Digital Media Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it intends to use its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world’s leading innovators in materials science. For more than 160 years, Corning has applied its unparalleled expertise in specialty glass, ceramics, and optical physics to develop products that have created new industries and transformed people’s lives. Corning succeeds through sustained investment in R&D, a unique combination of material and process innovation, and close collaboration with customers to solve tough technology challenges. Corning’s businesses and markets are constantly evolving. Today, Corning’s products enable diverse industries such as consumer electronics, telecommunications, transportation, and life sciences. They include damage-resistant cover glass for smartphones and tablets; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for high-speed communications networks; trusted products that accelerate drug discovery and manufacturing; and emissions-control products for cars, trucks, and off-road vehicles.