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O-I Glass secures potential $125M in clean energy funding

EditorAhmed Abdulazez Abdulkadir
Published 2024-03-25, 11:18 a/m
© Reuters
OI
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PERRYSBURG, Ohio - O-I Glass (NYSE:OI), Inc., a global leader in glass container manufacturing, is poised to begin negotiations for up to $125 million in funding from the U.S. Department of Energy (DOE). This potential funding, sourced from the Bipartisan Infrastructure Law and Inflation Reduction Act, is part of the DOE's Industrial Demonstrations Program (IDP), which aims to support commercial-scale decarbonization technologies.

The company's Glass Furnace Decarbonization Technology project is among 33 selected across more than 20 states, sharing a total of $6 billion earmarked for initiatives that drive industries towards net-zero emissions.

O-I Glass's project focuses on rebuilding four furnaces at facilities in California, Ohio, and Virginia. These upgrades are expected to cut scope 1 carbon dioxide emissions by approximately 48,000 metric tons annually, averaging a 40% reduction per furnace.

The technology overhaul involves the simultaneous implementation of five advanced furnace technologies, a first for the industry. These advancements aim to minimize waste heat and boost electrification, enhancing energy efficiency and reducing both direct and indirect emissions. The project also serves as a platform for O-I Glass to demonstrate the integrated technologies' effectiveness across various glass colors and container types.

O-I Glass anticipates that the furnace rebuilds could support up to 300 construction jobs per site, totaling up to 1,200 jobs. The company plans to uphold workers’ rights through Project Labor Agreements and Community Workforce Agreements. Additionally, O-I Glass is committed to increasing diversity, equity, and inclusion by actively engaging underrepresented groups, including women, LGBTQ+ individuals, and veterans.

The company's community involvement extends to supporting local organizations like the United Way, contributing to social needs, arts and culture, education, career development, and environmental initiatives, particularly those related to glass recycling.

This initiative aligns with O-I Glass's broader sustainability goals, reinforcing its position as a responsible packaging provider. The company, headquartered in Perrysburg, Ohio, operates 68 plants in 19 countries and generated revenues of $7.1 billion in 2023.

The information about O-I Glass's involvement in the DOE's Industrial Demonstrations Program is based on a press release statement.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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