Use of Power Derived from Renewable Energy via In-house Hydropower Generation for the Company's Own Plants

Mitsubishi Materials Corporation will reduce its GHG emissions by applying electricity that is effectively renewable energy with environmental value derived from its own Oyu Hydroelectric Power Plant (Kazuno City, Akita Prefecture) to part of the power used at its plants.

Accelerating Efforts to Reduce GHG Emissions by Utilizing Renewable Energy.

This time, we will procure 1,300 MWh worth of FIT Non-Fossil Certificates (*1) with Tracking from Oyu Hydroelectric Power Plant, and apply it to part of the electricity used this fiscal year by our Tsukuba Plant and Akashi Plant, which are production bases for cemented carbide tools, to make the electricity used effectively renewable energy. As a result, the Mitsubishi Materials Group expects to reduce its annual GHG emissions by approximately 550 tons of CO2 equivalent (based on the FY2022 emission factor) this fiscal year. We plan to continue this initiative in the next fiscal year and beyond.

(*1) Regarding renewable energy electricity under FIT (Feed-in Tariff Scheme for Renewable Energy), a FIT Non-Fossil Certificate certifies the "non-fossil value" of electricity generated from a non-fossil power source separate from the electricity. In addition, a FIT Non-Fossil Certificate with Tracking is a certificate to which attribute information is added that shows which power plant generated the electricity.

Our Group aims to achieve a 47% reduction in GHG emissions by FY2031 (compared to FY2014) and virtually zero, or carbon neutrality by FY2046. We are working to further promote energy conservation and improve technology through fuel conversion and other means. We also plan to gradually introduce electricity from renewable energy sources, with a plan to switch about 60% of the electricity used in our Group by FY2031.

(*2) JEPX (Japan Electric Power Exchange)
The only wholesale electricity trading market in Japan where electricity can be traded, which was established following the liberalization of the electricity market.
Non-Fossil Certificates can be purchased through an auction format on the exchange sponsored by JEPX.

Toward achieving carbon neutrality by FY2046, Mitsubishi Materials Group will continue to further contribute to the building of a decarbonized society by ensuring to consider the reduction of environmental impact in manufacturing and by promoting aggressive reduction of GHG emissions.

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