Ingevity Announces Renewable Energy Project to Reduce Carbon Emissions for United States Manufacturing Locations

August 15, 2023 10:00 AM Eastern Daylight Time

NORTH CHARLESTON, S.C.--(BUSINESS WIRE)--Ingevity Corporation (NYSE:NGVT) today announced it has entered into a renewable product purchase agreement (RPPA) with a subsidiary of NextEra Energy Resources, LLC, to produce offsetting renewable energy to lower Scope 2 emissions related to Ingevity’s United States (U.S.) manufacturing locations.

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Ingevity aims to reduce the company’s greenhouse gas (GHG) emissions and be carbon neutral for absolute GHG emissions from manufacturing operations by 2050. Ingevity’s sustainability commitment includes decarbonization through increasing the use of renewable energy in its operations and by collaborating with renewable energy producers like NextEra Energy Resources to increase the amount of renewable energy available in the U.S.

“Ingevity was founded on using renewably-sourced chemistries and materials to purify, protect and enhance,” said Ingevity president and CEO, John Fortson. “Collaborating with NextEra Energy Resources for the development of a solar facility in a location in the U.S. with high electricity demands to create renewably-sourced energy is a natural extension of our sustainability profile and an important element in our effort to achieve carbon neutrality for the benefit of our operations and the industries that rely on our products to advance their own sustainability goals.”

As part of the agreement, Ingevity will receive 85 megawatts of capacity at a new NextEra Energy Resources solar site to be constructed in North Texas. With Ingevity’s commitment to the project and NextEra Energy Resources’ deep expertise in developing and generating renewable energy, the project will contribute a significant source of sustainable energy to Texas.

“We have a history of collaborating with Ingevity to develop customized solutions to help meet their goals,” said Rebecca Kujawa, NextEra Energy Resources president and CEO. “In terms of reducing carbon emissions, a solar project of this scale is equivalent to the electricity needed to power an average of 14,000 homes per year, with the added benefits of generating new jobs and creating economic impacts for Texas and beyond.”

In exchange for Ingevity’s commitment to the project, Ingevity will receive and retire renewable energy credits to offset a significant portion of its Scope 2 emissions from U.S. manufacturing locations and advance the company toward its 2050 target.

NextEra Energy Resources and Ingevity expect the solar facility to be fully operational by the end of 2025.

About NextEra Energy Resources

NextEra Energy Resources, LLC (together with its affiliated entities, "NextEra Energy Resources") is a clean energy leader and is one of the largest wholesale generators of electric power in the U.S., with approximately 27,400 megawatts of total net generating capacity, primarily in 40 states and Canada as of year-end 2022. NextEra Energy Resources is the world's largest generator of renewable energy from the wind and sun, a world leader in battery storage and is driving the development of the green hydrogen economy. The business operates clean, emissions-free nuclear power generation facilities in New Hampshire and Wisconsin as part of the NextEra Energy nuclear fleet. NextEra Energy Resources offers a wide range of clean energy solutions to help businesses and customers across the country meet their emissions reduction goals. NextEra Energy Resources, LLC is a subsidiary of Juno Beach, Florida-based NextEra Energy, Inc. (NYSE: NEE). For more information, visit www.NextEraEnergyResources.com.

Ingevity: Purify, Protect and Enhance

Ingevity provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in three reporting segments: Performance Chemicals, which includes specialty chemicals and pavement technologies; Advanced Polymer Technologies, which includes biodegradable plastics and polyurethane materials; and Performance Materials, which includes activated carbon. Our products are used in a variety of demanding applications, including adhesives, agrochemicals, asphalt paving, bioplastics, coatings, elastomers, lubricants, pavement markings, publication inks, oil exploration and production and automotive components. Headquartered in North Charleston, South Carolina, Ingevity operates from 31 countries around the world and employs approximately 2,050 people. The company’s common stock is traded on the New York Stock Exchange (NYSE:NGVT). For more information visit www.ingevity.com