PERRYSBURG, OH/ALLOA, UK, June 25, 2024 (GLOBE NEWSWIRE) -- - O-I Glass, Inc. (“O-I Glass” or “O-I”) and GridBeyond plan to implement a groundbreaking battery storage solution at O-I’s Alloa, UK facility. The innovative 8MW battery system and supporting energy management system (EMS) leverages artificial intelligence to significantly enhance energy efficiency, resilience and sustainability.
“Our energy strategy is grounded in resilience, innovation, and transformation, to embrace cutting-edge solutions that are scalable and sustainable,” said Randy Burns, Chief Sustainability and Corporate Affairs Officer for O-I. “
By strategically charging and discharging the battery based on grid conditions, GridBeyond’s AI-powered system helps to stabilize the local electricity grid during peak periods, increases O-I's resilience against brownouts, and improves the grid’s efficiency and sustainability. It allows charging during times of high renewable energy availability and discharging energy to the site at peak hours of demand. With this approach, O-I is projected to conserve up to 240 tons of CO2 emissions annually at the Alloa facility once the project is operational.
The sophisticated battery management algorithm also helps to maintain a smaller overall footprint of the grid as it smooths out the load during peak hours.
In addition, the battery system will increase power resiliency at the Alloa plant by balancing voltage dips on site and helping to prevent production equipment from tripping out.
“We are supporting O-I’s global sustainability strategy by leveraging localized product and process innovations to transform our operations,” said Jim Rankine, O-I’s UK Managing Director. “From our use of second-generation biofuels, derived entirely from renewable waste materials to leveraging AI to maximize energy efficiency, we are taking a holistic approach to achieving balance across our stakeholder ecosystem.”
“Through its AI platform, GridBeyond is a key player in supporting businesses’ energy transition and helping to deliver net zero. We are extremely proud of working with O-I and use our expertise to support the company to deliver a sustainable future,” commented Michael Phelan, CEO at GridBeyond.
As part of O-I’s vision to be the most sustainable, and chosen, supplier of brand-building packaging, the company aims to reduce GHG emissions by 25 percent by 2030. To learn more about O-I’s sustainable packaging for wine and its global vision for sustainability, visit the company’s website at: http://o-i.com/sustainability.
ABOUT O-I GLASS
At O-I Glass, Inc. (NYSE: OI), we love glass, and we are proud to be one of the leading producers of glass bottles and jars around the globe. Glass is not only beautiful, it is also pure, healthy, and completely recyclable, making it the most sustainable rigid packaging material. Headquartered in Perrysburg, Ohio (USA), O-I is the preferred partner for many of the world’s leading food and beverage brands. We innovate in line with customers’ needs to create iconic packaging that builds brands around the world. Led by our diverse team of approximately 23,000 people across 68 plants in 19 countries, O-I achieved revenues of $7.1 billion in 2023. Learn more about us: o-i.com / Facebook / Twitter / Instagram / LinkedIn
FORWARD-LOOKING STATEMENTS
This announcement may contain “forward-looking” statements as defined under U.S. securities laws. Forward-looking statements reflect the Company’s current expectations and projections about future events at the time, and thus involve uncertainty and risk. The words “believe,” “expect,” “anticipate,” “will,” “could,” “would,” “should,” “may,” “plan,” “estimate,” “intend,” “predict,” “potential,” “continue,” and the negatives of these words and other similar expressions generally identify forward-looking statements.
It is possible that the Company’s future financial performance may differ from expectations due to a variety of factors including, but not limited to the following: (1) the general political, economic and competitive conditions in markets and countries where the Company has operations, including uncertainties related to economic and social conditions, trade disputes, disruptions in the supply chain, competitive pricing pressures, inflation or deflation, changes in tax rates and laws, war, civil disturbance or acts of terrorism, natural disasters, public health issues and weather, (2) cost and availability of raw materials, labor, energy and transportation (including impacts related to the current Ukraine-Russia and Israel-Hamas conflicts and disruptions in supply of raw materials caused by transportation delays), (3) competitive pressures from other glass container producers and alternative forms of packaging or consolidation among competitors and customers, (4) changes in consumer preferences or customer inventory management practices, (5) the continuing consolidation of the Company’s customer base, (6) the Company’s ability to improve its glass melting technology, known as the modular advanced glass manufacturing asset (“MAGMA”) program, and implement it within the timeframe expected, (7) unanticipated supply chain and operational disruptions, including higher capital spending, (8) seasonality of customer demand, (9) the failure of the Company’s joint venture partners to meet their obligations or commit additional capital to the joint venture, (10) labor shortages, labor cost increases or strikes, (11) the Company’s ability to acquire or divest businesses, acquire and expand plants, integrate operations of acquired businesses and achieve expected benefits from acquisitions, divestitures or expansions, (12) the Company’s ability to generate sufficient future cash flows to ensure the Company’s goodwill is not impaired, (13) any increases in the underfunded status of the Company’s pension plans, (14) any failure or disruption of the Company’s information technology, or those of third parties on which the Company relies, or any cybersecurity or data privacy incidents affecting the Company or its third-party service providers, (15) risks related to the Company’s indebtedness or changes in capital availability or cost, including interest rate fluctuations and the ability of the Company to generate cash to service indebtedness and refinance debt on favorable terms, (16) risks associated with operating in foreign countries, (17) foreign currency fluctuations relative to the U.S. dollar, (18) changes in tax laws or U.S. trade policies, (19) the Company’s ability to comply with various environmental legal requirements, (20) risks related to recycling and recycled content laws and regulations, (21) risks related to climate-change and air emissions, including related laws or regulations and increased environmental, social and governance scrutiny and changing expectations from stakeholders, (22) risks related to the Company’s long-term succession planning process and (23) the other risk factors discussed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 and any subsequently filed Quarterly Reports on Form 10-Q or the Company’s other filings with the SEC.
It is not possible to foresee or identify all such factors. Any forward-looking statements in this announcement are based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate in the circumstances. Forward-looking statements are not a guarantee of future performance and actual results or developments may differ materially from expectations. While the Company continually reviews trends and uncertainties affecting the Company’s results of operations and financial condition, we and the Company do not assume any obligation to update or supplement any particular forward-looking statements contained in this announcement.
