Dow Chemical Company Invests $100 Million in Energy Efficiency
Feb. 28, 2011 — Is it possible for a technology manufacturer to go green? Just ask The Dow Chemical Company. A major producer of specialty chemicals and materials for sectors like electronics, water, agriculture and energy, Dow announced this week that it will accelerate energy efficiency and conservation in its operations. How? By investing $100 million in projects that reduce both energy usage and greenhouse gas emissions.
Investing in energy conservation “will enable new projects that offer exceptional financial returns and significant energy and emissions benefits,” said Dough May, Dow’s vice president of energy and climate change, in a statement .
Investment Money for Green Projects
The investment capital will be awarded to Dow business units and manufacturing sites that present projects with the greatest impact in several performance areas, including energy use reductions and accelerated cost savings.
Already, 60 projects have been submitted by business units, Dow reported. These 60 projects represent a potential savings of $500 million, almost 8 trillion BTUs of energy savings and a reduction of more than 400 thousand metric tons of carbon dioxide emissions.
Efficiency Cuts Both Financial Costs and Energy Usage
At a time when businesses are attempting to lower costs and streamline operations, energy-efficient measures provide Dow with a smart way to save money and help the environment. “Our extensive expertise in energy conservation at Dow has taught us that it’s one of the most effective ways to cut energy costs and slash carbon emissions,” May said.
Between 1994 and 2010, Dow saved 1,800 trillion BTUs – equivalent to powering every residential building in California for more than a year and a half – through energy efficiency and conservation . These efforts also prevented 95 million metric tons of carbon dioxide from permeating the atmosphere, resulting in a cost savings of $9.4 billion.
The company was recognized with four 2010 American Chemistry Council Responsible Care Energy Efficiency Awards for improving energy efficiency in three of its U.S. facilities. In 2009, Dow received an A+ from the Global Reporting Institute for its corporate and social responsibility.
