Innovation Drives O-I Sustainability Progress By Investing.com

Company 2024 Sustainability Report Update Showcases Significant Progress Toward Ambitious Sustainability Goals

• Process innovations save more than 24,400 tons of glass and approximately13,120 tons of CO2 through lightweighting
• More than 100 energy reduction projects eliminated over 34,950 tons of CO2 emissions
• Climate strategy has driven a nearly 20 percent reduction in scope 1 & 2 emissions since 2017 base year

PERRYSBURG, OHIO, June 27, 2024 (GLOBE NEWSWIRE) — O-I Glass (NYSE:), Inc. (O-I Glass or O-I) announced today the company has published its 2024 Sustainability Report Update, highlighting key progress toward its ambitious sustainability goals driven by innovation and transformation.

For O-I Glass, the road to sustainability is paved by innovation, said Randy Burns, Chief Sustainability and Corporate Affairs Officer for O-I. True sustainability requires marquee transformation and great ambition”from the fuels, processes, and technologies we use to the relationships we have with our suppliers, customers, communities, and nearly 23,000 employees around the world.

The 2024 report details key O-I process innovations that have conserved more than 24,000 tons of glass and 13,000 tons of CO2 through collective lightweighting efforts. O-I reports more than 100 energy reduction projects have eliminated nearly 35,000 tons of CO2 emissions.

As part of its broader climate strategy O-I reports sourcing renewable energy, increasing recycled content, becoming more energy efficient, and leveraging new furnace technologies to drive sustainable progress. The combination of these levers has resulted in a nearly 20 percent reduction in scope 1 & 2 emissions from the 2017 base year.

The report also highlights 35 glass packaging collection sites, created by O-I to facilitate glass recycling for nine communities in North America. These recycling programs include four Glass4Good™ program sites, that have donated over $26,100 to United Way and collected 688 tons of glass. Through these Glass4Good™ programs, O-I reports savings of approximately 800 tons of raw materials, over 230 metric tons of CO2, and the equivalent emissions from about 28 homes’ energy use for a year. The company also reports conservation of nearly 145,000 tons of glass driven by 44 closed-loop partnership programs created with customers globally.

O-I’s sustainability approach is driven by a pioneering spirit that is in our DNA, said Burns. Our state-of-the-art Innovation Center nurtures ideas that result in innovative technologies and create scalable and sustainable solutions. The more than 3,800 current patents held by O-I are a testament to our vision to push the boundaries of what is achievable in glass packaging, enabling us to re-invent glassmaking in a way that creates value for all stakeholders.

O-I attributes process innovations that transform its operations toward lower-carbon outcomes as a key driver in its sustainability success. The company is implementing proven technologies to deploy alternative fuel sources and innovative technologies to drive progress in its climate strategy.

Recent innovation investments covered in the report include a new facility in Bowling Green, Kentucky, purpose-built for the company’s proprietary MAGMA technology and designed with holistic sustainability in mind. In 2023, O-I also completed a €50 million ($54.12 million) investment in Vayres, France, to install gas-oxy combustion technology and heat recovery systems and the company has started up a newly built GOAT (Gas Oxy Advancement Technology) furnace in Zipaquira, Colombia.

Through these innovations and others, O-I has made tangible progress toward the company’s ambitious sustainability goals. The 2024 Sustainability Report is available for download on the O-I website at:¯https://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 (NASDAQ:) / Twitter / Instagram / LinkedIn¯