Statement from Dow Corning Chairman, President and CEO Stephanie A. Burns Regarding the Kerry/Lieberman American Power Act Announcement
MIDLAND, Mich., May 12 /PRNewswire-USNewswire/ -- Dow Corning is encouraged by the outline unveiled today by Senators Kerry and Lieberman and we look forward to participating in the process that ultimately results in a comprehensive energy bill.
We welcome the elements of the proposal which encourage further development of domestic renewable energy manufacturing and implementation while emphasizing the need to find a legislative solution to reduce carbon emissions, rather than forcing the EPA to regulate. It is essential that any smart energy legislation which seeks to reduce greenhouse gas emissions should not inadvertently discourage U.S. growth in the manufacturing and production of renewable energy sources.
In the past five years, Dow Corning and its joint ventures, the Hemlock Semiconductor Group, have announced approximately $5 billion in domestic investments in solar energy technology. Most of that is in capital for advanced manufacturing operations for polycrystalline silicon, the key raw material used to manufacture solar cells.
As other companies like ours consider expansions in the U.S., they are seeking incentives that are globally competitive for manufacturers. Even more so, they are looking for ready markets for renewable energy adoption. We are hopeful that the legislation ultimately adopted will include provisions to ensure that the products necessary to meet increased domestic demand for alternative energies are manufactured here in the United States.
Dow Corning employees are coming to work every day, energized to be part of the energy security and environmental sustainability solution that we as a nation must achieve. We are thankful for the leadership which Senators Kerry and Lieberman have demonstrated thus far, and hopeful that Congress will continue to do its part by enacting policies and incentives to encourage the private sector to be an equal partner in developing and enacting this solution.
Dow Corning Corporation (www.dowcorning.com) provides performance-enhancing solutions to serve the diverse needs of more than 25,000 customers worldwide. A global leader in silicones, silicon-based technology and innovation, Dow Corning offers more than 7,000 products and services via the company's Dow Corning® and XIAMETER® brands. Dow Corning is equally owned by The Dow Chemical Company and Corning, Incorporated. More than half of Dow Corning's annual sales are outside the United States.
The Hemlock Semiconductor Group (www.hscpoly.com) is comprised of two joint ventures: Hemlock Semiconductor Corporation and Hemlock Semiconductor, L.L.C. The companies are joint ventures of Dow Corning Corporation, Shin-Etsu Handotai and Mitsubishi Materials Corporation. Hemlock Semiconductor is a leading provider of polycrystalline silicon and other silicon-based products used in the manufacturing of semiconductor devices and solar cells and modules. Hemlock Semiconductor began its Michigan operations in 1961 and broke ground at its Tennessee location in 2009.
SOURCE Dow Corning