EQS-News: Lenzing AG: Lenzing also switches to green electricity at its Chinese site
EQS-News: Lenzing AG / Key word(s): Sustainability/Strategic Company
Decision
Lenzing AG: Lenzing also switches to green electricity at its Chinese site
15.09.2022 / 09:10 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Lenzing also switches to green electricity at its Chinese site
• Gradual transition to green electricity will significantly reduce
annual carbon emissions
• Milestone in the transformation of production capacities to TENCEL™
branded modal fibers
Nanjing – The Lenzing Group, a world-leading provider of wood-based
specialty fibers, is continuing to expand its global clean electricity
portfolio by gradually transitioning to green energy at its production
site in Nanjing. This will enable its Chinese subsidiary Lenzing Nanjing
Fibers to use electricity derived solely from renewable sources from 2023
onwards and reduce the site’s carbon emissions by 100,000 tonnes annually.
Lenzing only recently announced the transition to green electricity at its
Indonesian production facility.
In 2019, Lenzing became the first fiber producer to set a target of
halving its carbon emissions by 2030 and becoming climate neutral by 2050.
This carbon reduction target has been recognized by the Science Based
Targets Initiative. In Nanjing, Lenzing is currently investing in cutting
its carbon emissions and converting a standard viscose production line to
35,000 tonnes of TENCEL™ branded modal fibers. Thanks to this move, the
Chinese site will exclusively produce eco-friendly specialty fibers.
“Demand for our wood-based, biodegradable specialty fibers is constantly
rising. We see enormous growth potential, especially in Asia. Thanks to
our investments in China and other Lenzing sites around the world, we will
be better positioned to meet this growing demand in future. At the same
time, we are continuing to make considerable progress towards achieving a
carbon-free future and becoming a champion of circularity”, comments
Robert van de Kerkhof, Chief Commercial Officer for Fiber at Lenzing.
Boosting growth in specialty fibers
Man-made climate change is one of the most pressing problems of our time.
The fashion industry has an extremely negative impact on the environment
due to its fast fashion business model and the growing consumption of
fossil resources in textile production. Lenzing’s sustainably produced
specialty fibers under the TENCEL™ brand help its customers, especially
brands and retailers, to reduce their global footprint immensely.
Specialty fibers are Lenzing’s key strength. The company aims to generate
more than 75 percent of its fiber revenue from the wood-based,
biodegradable specialty fibers business under the TENCEL™, LENZING™,
ECOVERO™ and VEOCEL™ brands by 2024. With the launch of the lyocell plant
in Thailand in March 2022 and the investments in existing production sites
in China and Indonesia, the share of specialty fibers in Lenzing’s fiber
revenue is set to exceed the 75 percent target by a significant margin as
early as 2023.
Photo download:
[1] https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=CL5nEm5BEom8
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Your contact for
Public Relations:
Dominic Köfner Daniel Winkelmeier
Vice President Corporate Communications Communications Manager
& Public Affairs Lenzing Aktiengesellschaft
Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing,
Werkstraße 2, 4860 Lenzing, Austria Austria
Phone +43 7672 701 2743 Phone +43 7672 701 3599
E-mail [2]media@lenzing.com E-mail [4]s.knus@lenzing.com
Web [3] www.lenzing.com Web [5] www.lenzing.com
About the Lenzing Group
The Lenzing Group stands for ecologically responsible production of
specialty fibers made from the renewable raw material wood. As an
innovation leader, Lenzing is a partner of global textile and nonwoven
manufacturers and drives many new technological developments.
The Lenzing Group’s high-quality fibers form the basis for a variety of
textile applications ranging from elegant clothing to versatile denims and
high-performance sports clothing. Due to their consistent high quality,
their biodegradability and compostability Lenzing fibers are also highly
suitable for hygiene products and agricultural applications.
The business model of the Lenzing Group goes far beyond that of a
traditional fiber producer. Together with its customers and partners,
Lenzing develops innovative products along the value chain, creating added
value for consumers. The Lenzing Group strives for the efficient
utilization and processing of all raw materials and offers solutions to
help redirect the textile sector towards a closed-loop economy. In order
to reduce the speed of global warming and to accomplish the targets of the
Paris Climate Agreement and the “Green Deal” of the EU Commission, Lenzing
has a clear vision: namely to make a zero-carbon future come true.
Key Facts & Figures Lenzing Group 2021
Revenue: EUR 2.19 bn
Nominal capacity: 1,145,000 tonnes
Number of employees (headcount): 7,958
TENCEL™, VEOCEL™, LENZING™, REFIBRA™, ECOVERO™, LENZING MODAL™, LENZING
VISCOSE™, MICROMODAL™ and PROMODAL™ are trademarks of Lenzing AG.
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15.09.2022 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1442903
End of News EQS News Service
1442903 15.09.2022 CET/CEST
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