AGGREKO SETS INDUSTRY-LEADING NET ZERO TARGETS TO SUPPORT CUSTOMERS THROUGH THE ENERGY TRANSITION

•  By 2030, achieve a 50% reduction in fossil diesel used and a 50% reduction in air quality emissions from solutions provided to our customers
• By 2030, become net zero in our own operations and by 2050 or sooner, become a net zero business for all scopes 1, 2 and 3 emissions
• Provide innovative technologies and solutions to help our customers accomplish their transition to cleaner energy

26 January 2021 – Aggreko, the world leader in the temporary energy market, announces its ambition to be net zero by 2050 or sooner, aligning with the Paris Agreement to limit global warming to 1.5° Celsius. Aggreko also commits to offering cleaner technologies and fuels to support its customers through their energy transition – using flexible and competitive energy solutions to meet their environmental sustainability targets.

By 2030, Aggreko will:

• Reduce the amount of fossil diesel fuel used in customer solutions by at least 50% by offering customers cleaner technologies and fuels that guarantee the same or better level of reliability and competitiveness
• Reduce local air quality emissions of their solutions also by 50% (all emissions from diesel, gas and other fuels)
• Achieve net zero across all its own business operations

By 2050 or sooner:

• Aggreko will be a net zero business, across all the services it provides

Chris Weston, CEO Aggreko, commented: “The energy transition is fundamentally changing the way power is generated and delivered. Our customers’ needs are evolving – they require cleaner solutions but without compromising reliability, modularity, or cost efficiency. We’ve already begun transforming our fleet and solutions to meet changing customer needs and to achieve our objective to become a net zero company.”

“Our customers are looking to reduce their carbon and air quality emissions and we are the perfect partner to support them in their journey. With our expertise in hybrid solutions and efficient thermal generation, we are already supporting them across the world through the energy transition.  Given their individual needs and situations, I am immensely proud of the whole Aggreko team who consistently demonstrate their expertise and use of our agility to deploy flexible and tailored solutions for our customers.”  

“Our industry-leading net zero commitments are ambitious but achievable and put us on the path to reduce both our own environmental footprint and that of our customers as we look ahead to a greener future.”

According to PWC, most African countries have ‘greening’ policies in place, but are struggling with a lack of implementation, low domestic market momentum and are grappling with the investment required or incentives put in place by the developed world.

John Lewis, MD of Aggreko Africa, said: “The African continent is struggling to strike a balance between an increased demand for energy and reducing its carbon emissions. While the continent has the second lowest carbon emissions around the world, it is the most exposed region to the effects of climate change. While we have seen countries such as Kenya, Algeria, Egypt, Morocco, and South Africa proactively develop progressive and clear policies, they remain short of their initial renewable energy installation targets. It is important to note, however, that each territory faces their own unique challenges as they struggle to balance an increased demand for energy, with reducing carbon emissions. As Aggreko we understand these dynamics and will move at the pace of our customers on the continent.”

Over the last years, Aggreko has already made significant progress, providing cleaner solutions for customers around the world, such as turning landfill, bio, and flare gas into power or by investing in battery storage, solar, and more efficient and near zero local emissions generators. Aggreko is pioneering by partnering with many leading organisations across the sectors that aim to be net zero or close to net zero within the next decade, supporting them in navigating the complexity and the cost challenges they face in achieving their own commitments.

To achieve its 2030 & 2050 targets, Aggreko will accelerate investment in lower-carbon technologies and will continue to shift its global generator fleet towards more gas and greener drop-in liquid fuels. Aggreko will also invest in other clean energy alternatives such as e-fuels, hydrogen-ready engines, and fuel cells, in preparation for rapid exploitation as the technology becomes available at scale, whilst also closely monitoring and investigating future technologies.

Aggreko will accelerate its offering of more efficient solutions notably through temperature control, energy recovery, co- or tri-generation. Simultaneously Aggreko will continue to grow its portfolio of mobile and modular solar power and battery storage, which when combined with its generator fleet helps customers to successfully reduce their carbon emissions and costs.

Aggreko will continue to enhance the use of connected systems, remote monitoring, and data analytics to increase efficiency and track performance against its own and its customers’ emissions reduction targets.

Ends

EDITOR’S NOTES

Aggreko is a world-leading provider of mobile modular power, temperature control and energy services. We are working at the forefront of a rapidly changing energy market and are focused on solving our customers’ challenges to provide cost-effective, flexible and greener solutions across the globe.

We harness innovation that helps us maintain a global reach and supply portable equipment for a wide range of uses. From unique commercial industrial projects, through to utility provision and humanitarian emergencies.  We bring expertise and equipment to any location, from the world’s busiest cities to its most remote places.

Aggreko specialises in serving eight key sectors: Oil & Gas, Manufacturing, Mining, Petrochemicals & Refining, Business Services & Construction, Events, Data Centres and Utilities.

Across these, our equipment offers maximum fuel flexibility, using gas, diesel and renewable fuel sources such as HVO and biodiesel. We offer microgrid and storage solutions and are developing our offer to include more tools to help our customers adapt to the energy transition the world is experiencing. What makes us unique is our extensive expertise, experience and values.  This means we put our customers first, innovate and deliver leaner and more efficient equipment quickly.

Since 1962, Aggreko has grown from a small local business to a global energy pioneer. We have more than 6,000 employees, operating in around 79 countries. With revenues of approximately GBP 1.6bn (USD 2.0 bn or Euros 1.8bn) in 2019, we are listed on the London Stock Exchange (AGK.L) and headquartered in Scotland.

Aggreko draws together global expertise and technology development to go further for customers. The ability to provide power, heating and cooling will continue to open-up opportunity and create potential for individuals, communities, industries, and societies all over the world.

Together and over time, we believe our services will make a massive difference.

For more information, please visit our local website at: aggreko.com