Ingevity enters renewable product purchase agreement

Ingevity entered into a renewable product purchase agreement with a subsidiary of NextEra Energy Resources to produce offsetting renewable energy to lower Scope 2 emissions related to Ingevity’s United States manufacturing locations. Ingevity aims to reduce the company’s greenhouse gas 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. 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. 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.