Southern company carbon capture3/11/2024 ![]() Important risk factors which could impact outcomes are included under the caption "Risk Factors" in the company's Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended March 31, 2023. We do not intend, and we disclaim any obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise. ![]() Novelis cautions that, by their nature, forward-looking statements involve risk and uncertainty. Examples of forward-looking statements in this news release include goals to reduce carbon emissions by 30% by 2026 and be carbon neutral by 2050 or sooner. Statements made in this news release that describe Novelis' intentions, expectations or predictions may be forward-looking statements within the meaning of securities laws. Novelis is a subsidiary of Hindalco Industries Limited, an industry leader in aluminum and copper, and the metals flagship company of the Aditya Birla Group, a multinational conglomerate based in Mumbai. Novelis had net sales of $18.5 billion in fiscal year 2023. Our ambition is to be the leading provider of low-carbon, sustainable aluminum solutions and to achieve a fully circular economy by partnering with our suppliers, as well as our customers in the aerospace, automotive, beverage can and specialties industries throughout North America, Europe, Asia and South America. We are a global leader in the production of innovative aluminum products and solutions and the world's largest recycler of aluminum. is driven by its purpose of shaping a sustainable world together. ![]() “Whether it’s with new or existing companies, finding ways for Novelis and Southern Company to mutually identify and test innovative technologies will be key to advancing the availability of renewable power and reaching our respective decarbonization goals.” “The future of clean energy depends on unlocking these types of partnerships,” said Chris Cummiskey, Executive Vice President and Chief Commercial and Customer Solutions Officer for Southern Company Services. “Partnering with Southern Company and Alabama Power on renewable energy solutions, such as solar power, and exploring new technologies for carbon reduction will help us as we seek to meet our goals to reduce carbon emissions by 30% by 2026 and be carbon neutral by 2050 or sooner.” “At Novelis, we believe that strong partnerships like this are critical to advancing our commitment to the environment, the economy and the communities in which we operate,” said Suzanne Lindsay-Walker, Novelis’ Vice President of Sustainability. Through their corporate venture and R&D teams, Novelis and Southern Company are exploring projects for the Bay Minette facility, as well as other Novelis sites in North America. Novelis and Southern Company will also collaborate to advance new technologies to reduce Novelis’ Scope 1 carbon emissions, including hydrogen fuels, carbon capture, energy storage and electrification of thermal processes. By participating in Alabama Power’s Renewable Subscription Program, Novelis will directly support the creation of two, new 80-megawatt solar power generation plants in Alabama that will cover over half of the Bay Minette facility’s renewable energy needs while avoiding 192 kilotons of CO2 emissions per year. Novelis will work with Southern Company subsidiary Alabama Power to provide the Bay Minette project with renewable energy to reduce its scope 2 greenhouse gas emissions. The recycling and rolling plant is currently under construction to help meet the growing demand for more sustainable beverage packaging and will support the automotive industry in North America, including the increase in electric vehicle production. ![]() Their initial focus is on Novelis’ new Bay Minette, Alabama, plant, which aims to be carbon neutral for scope 1 and 2 greenhouse gas emissions. Novelis Inc., a leading sustainable aluminum solutions provider and world leader in aluminum rolling and recycling, and Southern Company, have announced plans to partner on decarbonization efforts.
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