Meritor Teams with TVA, Franklin Electric to Save Energy
FRANKLIN, Ky., Dec. 17, 2013 /PRNewswire/ -- Meritor, Inc. (NYSE: MTOR) today celebrated completion of multiple energy-saving projects to reduce the plant's annual power consumption by more than 2.3 million kilowatt-hours — enough electricity to supply about 170 homes in the Franklin area for a year.
The site was also awarded a $200,545 rebate through its partnership with the Franklin Electric Plant Board (EPB) and the Tennessee Valley Authority (TVA).
Meritor, a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets, refitted lighting systems at its nearly 100,000-square-foot Franklin plant through the EnergyRight Solutions for Industry Program offered by TVA and Franklin EPB. The company replaced more than 450 high-intensity lights with high-efficiency fluorescent fixtures that provide the same amount of light but use about half as much energy. In addition, the site installed three high-efficiency compressors. Meritor will save nearly $195,994 on its annual power bill.
"Meritor considers sustainability an economic, social and environmental requirement for success," said Lucille Gartman, Franklin site manager, Meritor. "We appreciate the collaboration with our energy partners to achieve these significant savings while simultaneously reducing the environmental impact."
TVA's EnergyRight Solutions for Industry offers 10 cents per kilowatt-hour on first-year savings or 70 percent of project cost, whichever is less, to program participants for approved energy efficiency projects.
"Energy efficiency helps keep rates low, reduces costs associated with meeting consumer demand, conserves natural resources and produces zero emissions," said Brent Powell, one of the managers of the TVA EnergyRight Solutions for Industry program in Kentucky. "We thank Meritor and Franklin EPB for their leadership and support of energy efficiency in Kentucky."
Powell said energy efficiency programs, which are supported by TVA's Integrated Resource Plan energy roadmap to 2030, are among the cleanest and lowest-cost, long-term expansion options to help TVA achieve its vision for more low-cost, clean energy. TVA's EnergyRight Solutions offers a broad portfolio of new and innovative energy efficiency initiatives for homes, business and industry.
TVA's energy efficiency programs have achieved a nearly 1,772 gigawatt-hour reduction in energy through 2012, enough to power nearly 111,000 Valley homes for a year.
Meritor's Franklin, Ky. facility produces the Meritor X30TM, a one-piece composite brake drum with a unique machine-to-balance process that offers customers a lightweight alternative to a traditional brake drum. The site also manufactures aftermarket products for the commercial vehicle market.
Meritor, Inc. is a leading global supplier of drivetrain, mobility, braking and aftermarket solutions for commercial vehicle and industrial markets. With more than a 100-year legacy of providing innovative products that offer superior performance, efficiency and reliability, the company serves commercial truck, trailer, off-highway, defense, specialty and aftermarket customers in close to 90 countries. Meritor is based in Troy, Mich., United States, and is made up of more than 9,000 diverse employees who apply their knowledge and skills in manufacturing facilities, engineering centers, joint ventures, distribution centers and global offices in 18 countries. Common stock is traded on the New York Stock Exchange under the ticker symbol MTOR. For important information, visit the company's website at meritor.com.
About Franklin Electric Plant Board
Franklin Electric Plant Board serves over 4800 customers in the city limits of Franklin, Kentucky. We are proud of the relationships we have established with our customers in the many years we have been providing electricity to the community.
About Tennessee Valley Authority
The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving 9 million people in parts of seven southeastern states. TVA receives no taxpayer funding, deriving virtually all of its revenues from sales of electricity. In addition to operating and investing its revenues in its electric system, TVA provides flood control, navigation and land management for the Tennessee River system and assists local power companies and state and local governments with economic development and job creation.
SOURCE Meritor, Inc.