PERRYSBURG, OH - O-I Glass, Inc. (NYSE:OI), a global leader in glass bottle and jar production, is set to negotiate a funding award of up to $125 million from the U.S. Department of Energy (DOE). This financial backing, stemming from the Bipartisan Infrastructure Law and Inflation Reduction Act, is part of the Industrial Demonstrations Program (IDP) aiming to foster commercial-scale decarbonization.
The company's Glass Furnace Decarbonization Technology project is among 33 selected across the U.S., sharing a total potential funding pool of $6 billion. The initiative focuses on rebuilding four glass furnaces in California, Ohio, and Virginia to significantly cut carbon emissions. These upgrades are expected to reduce scope 1 carbon dioxide emissions by approximately 48,000 metric tons annually, averaging a 40% reduction per furnace.
O-I Glass plans to integrate five advanced technologies to each furnace, marking a pioneering effort to apply these solutions concurrently. The technologies are designed to minimize waste heat and bolster electrification, thereby enhancing energy efficiency and curbing both direct and indirect emissions.
The project's scope extends beyond environmental benefits. It is anticipated to generate up to 300 construction jobs per furnace, totaling up to 1,200 jobs. O-I Glass has committed to establishing Project Labor Agreements and Community Workforce Agreements to ensure the project's success and the protection of workers' rights. The company is also actively pursuing diversity, equity, and inclusion by engaging underrepresented groups in its workforce.
In addition to job creation and technological advancement, O-I Glass continues its community support through contributions to local organizations, addressing social needs and promoting environmental efforts such as glass recycling.
This press release statement offers a glimpse into the company's forward-looking approach, which is subject to various factors that could affect future financial performance. O-I Glass's proactive stance on sustainability and community engagement reflects its broader commitment to responsible business practices and innovation in the glass packaging industry.
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