Toyoda Gosei Concludes Long-Term Purchasing Agreement for Renewable Energy in North America

Increases use of renewable energy in move toward carbon neutrality

KIYOSU, Japan--(BUSINESS WIRE)--Toyoda Gosei Co., Ltd.’s headquarters for the Americas, Toyoda Gosei North America Corp. (TGNA), has concluded a purchasing agreement with Eurus Energy America, a member of the Eurus Energy Holdings Corporation¹ Group, to advance its transition to greater use of renewable energy in North America.

TGNA will purchase renewable energy certificates² over ten years to increase its use of renewable energy. These certificates have additionality³ of 100 gigawatt-hours annually that will be generated at a wind power facility in Texas. This is predicted to cut CO₂ emissions by about 40,000 tons per year, which will reduce company emissions by more than 20% (compared with FY2023) in the Americas, Toyoda Gosei’s largest region in CO₂ emissions.

In 2023 Toyoda Gosei brought forward, to 2030, the timing for achieving carbon neutrality in the CO₂ emissions generated in its production and other activities (Scope 1 and 2), and it is accelerating its energy savings from production technology innovations and daily kaizen and its transition to renewable energy for electric power. To make this transition to renewable energy, the company is also increasing the use of in-house solar power and green energy as well as purchasing Renewable Energy Certificates. The entire Toyoda Gosei Group is working together to achieve carbon neutrality by 2030 through the optimum combination of various approaches.

¹ Toyota Tsusho Corporation group company that develops wind and solar power projects globally.
² Certification of the environmental value from renewable energy that does not emitting CO₂. The purchased amount is viewed as amount of renewable energy used.
³ The installation or upgrading of renewable energy facilities has the effect of expanding or maintaining renewable energy sources. This contributed to the spread of renewable energy is society overall.