Alcoa Corporation (AA: NYSE) announced today that it is
supplying low-carbon EcoLum™ aluminum to Hellenic Cables S.A., one
of the largest cable producers in Europe with key markets in
renewable energy transmission and distribution.
Hellenic Cables, the cables segment of Cenergy Holdings,
operates five manufacturing plants across three countries and
manufactures power, telecommunication, and submarine cables, and
compounds.
The EcoLum brand is part of Alcoa’s Sustana™ family of
low-carbon products, the most comprehensive in the aluminum
industry, and has a carbon footprint that is approximately 3.5
times better than the industry average.
“We are very proud to partner with Hellenic Cables and assist
them in their stated mission to develop a sustainable energy
future,” said Kelly Thomas, Alcoa’s Executive Vice President and
Chief Commercial Officer. “We know that aluminum is a key material
for a more sustainable future, and we are the company to deliver
with responsible production from mine to metal, all backed by
excellent quality and strong customer service.”
Produced at hydroelectric-powered aluminum smelters, EcoLum
aluminum has no more than 4.0 metric tons of CO2e emissions for
every ton of metal produced, including both direct and indirect
emissions (scope 1 and scope 2) across the entire production chain,
including bauxite mining and alumina refining.
Alexis Alexiou, CEO of Cenergy Holdings and Hellenic Cables,
said Hellenic finds strong alignment with Alcoa’s strategic
priority to advance sustainably.
“Hellenic Cables is committed not only to reducing its own
operational emissions, but to also drive decarbonization activities
across the entire business’ areas of influence,” Alexiou said.
“Alcoa is a key enabler that contributes efficiently in this
direction. We prioritize the urgency of deep and immediate
mitigation actions, hence EcoLum minimizes our environmental
impacts and enhances the value of our products.”
Aluminum is an excellent alternative to copper in terms of
conductivity, mechanical properties, and durability. By using
low-carbon EcoLum aluminum, Hellenic Cables’ customers will have
the opportunity to decrease their own scope 3 emissions, by
purchasing high-quality cable products with a significantly lower
carbon footprint.
In its 2022 order book, Alcoa is seeing more than a three-fold
annual increase for its Sustana aluminum products. In addition to
EcoLum, the Sustana line also includes EcoDura™ aluminum, which
includes at least 50 percent recycled content, and EcoSource™, the
world’s only low-carbon, smelter grade alumina brand.
EcoLum is produced at smelters predominately powered by
renewable energy. Today, more than 80 percent of Alcoa’s global
smelting operations are powered by renewables. In addition to
Alcoa’s low-carbon products, the Company has a technology roadmap
that aims to reinvent the aluminum industry for a sustainable
future and support its net zero 2050 ambition.
About Alcoa Corporation
Alcoa (NYSE: AA) is a global industry leader in bauxite, alumina
and aluminum products with a vision to reinvent the aluminum
industry for a sustainable future. With a values-based approach
that encompasses integrity, operating excellence, care for people
and courageous leadership, our purpose is to Turn Raw Potential
into Real Progress. Since developing the process that made aluminum
an affordable and vital part of modern life, our talented Alcoans
have developed breakthrough innovations and best practices that
have led to greater efficiency, safety, sustainability and stronger
communities wherever we operate.
About Hellenic Cables
Hellenic Cables is one of the largest cable producers in Europe,
manufacturing power and telecom cables as well as submarine cables
for various industries, including offshore wind and utilities, as
well as undertaking turnkey power transmission and distribution
projects. Through its fully owned subsidiary Fulgor, Hellenic
Cables operates its submarine cables plant in Corinth, Greece,
where the production and testing of some of the longest submarine
cable lengths without factory joints on a worldwide basis is
empowered by the Company’s state-of-the-art facilities and
equipment. Since 2012, Hellenic Cables has implemented a EUR 230
million-investment plan for the production of high and extra
high-voltage submarine cables at Corinth plant. Hellenic Cables
represents the cable production segment of Cenergy Holdings SA. For
further information, please visit Hellenic Cables website at
www.hellenic-cables.com.
About Cenergy Holdings
Cenergy Holdings is a Belgian holding company listed on both
Euronext Brussels and Athens Stock Exchange, investing in leading
industrial companies, focusing on the growing global demand of
energy transfer, renewables and data transmission. The Cenergy
Holdings portfolio consists of Corinth Pipeworks and Hellenic
Cables, companies positioned at the forefront of their respective
high growth sectors. Corinth Pipeworks is a world leader in steel
pipe manufacturing for the oil and gas sector and major producer of
steel hollow sections for the construction sector. Hellenic Cables
is one of the largest cable producers in Europe, manufacturing
power and telecom cables as well as submarine cables for the
aforementioned sectors. For more information, visit
www.cenergyholdings.com.
Dissemination of Company Information
Alcoa intends to make future announcements regarding company
developments and financial performance through its website,
www.alcoa.com, as well as through press releases, filings with the
Securities and Exchange Commission, conference calls and
webcasts.
Forward-Looking Statements
This press release contains statements that relate to future
events and expectations, and as such constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements include those
containing such words as “aim,” “ambition,” “anticipates,”
“believes,” “could,” “develop,” “endeavors,” “estimates,”
“expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,”
“plans,” “potential,” “projects,” “reach,” “seeks,” “sees,”
“should,” “targets,” “will,” “working,” “would,” or other words of
similar meaning. All statements by Alcoa Corporation that reflect
expectations, assumptions or projections about the future, other
than statements of historical fact, are forward-looking statements.
Forward-looking statements are not guarantees of future performance
and are subject to known and unknown risks, uncertainties, and
changes in circumstances that are difficult to predict. Although
Alcoa Corporation believes that the expectations reflected in any
forward-looking statements are based on reasonable assumptions, it
can give no assurance that these expectations will be attained, and
it is possible that actual results may differ materially from those
indicated by these forward-looking statements due to a variety of
risks and uncertainties. Additional information concerning factors
that could cause actual results to differ materially from those
projected in the forward-looking statements is contained in Alcoa
Corporation’s filings with the Securities and Exchange Commission.
Alcoa Corporation disclaims any obligation to update publicly any
forward-looking statements, whether in response to new information,
future events or otherwise, except as required by applicable
law.
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Investor Contact: James Dwyer 412-992-5450
James.Dwyer@alcoa.com
Media Contact: Jim Beck 412-315-2909 Jim.Beck@alcoa.com
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