First global pre-commercial installation of FuelFlex
technology will reduce Davenport's
Fossil Fuel usage by 20%.
DENVER, Sept. 11,
2024 /PRNewswire/ -- Summit Materials, Inc. (NYSE:
SUM) ("Summit," "Summit Materials," "Summit Inc." or the
"Company"), a market-leading producer of aggregates and cement, has
successfully reconfigured and expanded Davenport's Green America Recycling
operations.
Summit has completed the first global pre-commercial
installation of the FLSmidth FUELFLEX™ Pyrolyzer system, which
enhances the use of non-hazardous alternative fuels at its
Davenport, Iowa Cement Plant. This
$38 million investment expands
Summit's Green America Recycling operation, enabling the plant to
replace approximately 55% of its fossil fuel usage with
non-hazardous waste. This achievement is a key milestone in
Summit's sustainability goals and supports the Company's Carbon
Reduction roadmap.
"As part of our commitment to being the most socially
responsible construction materials company, we are proud to pioneer
and invest in innovative ways to reduce our carbon footprint," said
Anne Noonan, Summit Materials
President and CEO. "As the largest US-based cement company, it's
our responsibility to lead in addressing emission reduction goals
in a way that adds value. The FuelFlex investment is a tremendous
opportunity to meet our sustainability targets while delivering
significant savings to our bottom line. We estimate this project
will cut our coal and petcoke consumption by over 50,000 tons
annually while delivering significant savings annually. This
investment clearly demonstrates that we are building a cement
business capable of meeting the opportunities and challenges of a
dynamic marketplace."
David Loomes, EVP & President
of Summit's Cement Segment, added, "We identified FuelFlex as a
cutting-edge technology that not only reduces our reliance on
fossil fuels but also improves plant efficiencies, material flow,
and overall throughput. Summit's a leader in using waste materials
to fuel our cement plants. This unique strength creates
benefits for our customers and communities by consuming waste which
would otherwise be incinerated or landfilled, while delivering a
vital construction material with lower embodied carbon. I commend
our entire team for their tireless efforts in safely completing
this project. Their flawless execution truly exemplifies our Summit
values, extends our sustainability leadership, and enhances the
overall quality of our business."
To celebrate this achievement, Summit Materials hosted a ribbon
cutting event at its Davenport,
Iowa Cement Plant. The event was attended by state and local
elected officials, customers and suppliers. Anne Noonan, David
Loomes, and several members of the Senior Management team
from Summit Materials also attended. To learn more about
Summit's Environmental, Social and Governance (ESG) commitment,
download 2023 ESG Report.
About Summit Materials
Summit Materials is a market-leading producer of aggregates and
cement with vertically integrated operations that supply ready-mix
concrete and asphalt in select markets. Summit is a geographically
diverse, materials-led business of scale that offers customers in
the United States and British Columbia, Canada high quality products
and services for the public infrastructure, residential and
non-residential end markets. Summit has a strong track record of
successful acquisitions since its founding and continues to pursue
high-return growth opportunities in new and existing
markets. For more information about Summit Materials, please
visit www.summit-materials.com.
Cautionary Statement Regarding Forward-Looking
Statements
This press release contains "forward-looking statements" within
the meaning of the federal securities laws, which involve risks and
uncertainties. Forward-looking statements include all statements
that do not relate solely to historical or current facts, and you
can identify forward-looking statements because they contain words
such as "believes, " "expects," "may," "will," "should," "seeks,"
"intends," "trends," "plans," "estimates," "projects" or
"anticipates" or similar expressions that concern our strategy,
plans, expectations or intentions. These forward-looking statements
are subject to risks, uncertainties and other factors that may
cause our actual results, performance or achievements to be
different from future results, performance or achievements
expressed or implied by such forward-looking statements. We derive
many of our forward-looking statements from our operating budgets
and forecasts, which are based upon many detailed assumptions.
While we believe that our assumptions are reasonable, it is very
difficult to predict the effect of known factors, and, of course,
it is impossible to anticipate all factors that could affect our
actual results.
In light of the significant uncertainties inherent in the
forward-looking statements included herein, the inclusion of such
information should not be regarded as a representation by us or any
other person that the results or conditions described in such
statements or our objectives and plans will be realized. Important
factors could affect our results and could cause results to differ
materially from those expressed in our forward-looking statements,
including but not limited to the factors discussed in the section
entitled "Risk Factors" in our Annual Report on Form 10-K for the
fiscal year ended December 30, 2023,
and Quarterly Report on Form 10-Q for the fiscal quarter ended
March 30, 2024. Such factors may be
updated from time to time in our periodic filings with the
Securities and Exchange Commission ("SEC"), which are accessible on
the SEC's website at www.sec.gov. We undertake no obligation to
publicly update or revise any forward-looking statement as a result
of new information, future events or otherwise, except as required
by law.
Investor Contact
Andy Larkin
VP, Investor Relations
Summit Materials, Inc.
Andy.Larkin@summit-materials.com
Media Contact
Karli Anderson
EVP, Chief People and ESG Officer and Head of Communications
Summit Materials, Inc.
Karli.Anderson@summit-materials.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/summit-materials-and-green-america-recycling-pioneer-alternative-fuel-technology-at-the-davenport-iowa-cement-plant-302245391.html
SOURCE Summit Materials, Inc.