BROOMFIELD, Colo., Oct. 18, 2018 /PRNewswire/ -- Ball Corporation (NYSE:BLL) and One Energy Enterprises LLC announced plans today to build three additional wind turbines to provide power to Ball's Findlay, Ohio, beverage packaging plant. The three new turbines will join three similar turbines that have been in operation since December 2015.
Together, the six turbines will use sustainable wind resources to supply approximately 30 percent of the Findlay plant's power needs at a fixed cost for 17 more years (the initial three turbines) and 20 years (the three new turbines). The Findlay plant, which employs more than 370 people, makes 100-percent infinitely recyclable metal containers.
"Ball's sustainability progress is powered by projects throughout our company, and our expansion of the use of wind power in Findlay is yet another example," said Glenn Jost, the company's Findlay plant manager. "By expanding our use of wind turbines to deliver power to our plant, Ball is increasing its support of renewable energy while ensuring a fixed-rate cost for a significant amount of our Findlay power needs for decades. This adds to the sustainability advantage of metal packaging compared to other substrates, like plastics and glass."
The three new turbines, which will begin construction by the end of 2018, will be the same model of turbines that were used for Ball's previous turbine project in Findlay. The project cost is approximately $9 million and is being financed by One Energy. The six total turbines will generate more than 24,000,000 kWh annually.
To further increase community impact, Ball and One Energy will create three, additional $5,000 Megawatt Scholarships in Findlay to be awarded each year the turbines are in operation. These Ball Corporation/One Energy STEM Scholarships will annually hand out a total of $30,000 between the 6 scholarships. The Megawatt Scholarships will be awarded to local high school graduates pursuing a two-year or four-year higher education degree in science, technology, engineering or math (STEM) fields of study.
"Support of STEM education is critical to Ball's ability to provide products that help sustain our planet," said Jost. "The critical importance of STEM learning – particularly for disadvantaged students – will be key to ensuring companies have the talent they need to thrive. That includes our efforts to further develop our Findlay workforce pipeline for engineering positions, and for other STEM roles at Ball."
About Ball Corporation Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 17,500 people worldwide and reported 2017 net sales of $11 billion. For more information, visit www.ball.com, or connect with us on Facebook or Twitter.
Forward-Looking Statements This release contains "forward-looking" statements concerning future events and financial performance. Words such as "expects," "anticipates," "estimates," "believes," "targets," "likely" and similar expressions typically identify forward-looking statements, which are generally any statements other than statements of historical fact. Such statements are based on current expectations or views of the future and are subject to risks and uncertainties, which could cause actual results or events to differ materially from those expressed or implied. You should therefore not place undue reliance upon any forward-looking statements and any of such statements should be read in conjunction with, and, qualified in their entirety by, the cautionary statements referenced below. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Key factors, risks and uncertainties that could cause actual outcomes and results to be different are summarized in filings with the Securities and Exchange Commission, including Exhibit 99 in our Form 10-K, which are available on our website and at www.sec.gov. Additional factors that might affect: a) our packaging segments include product demand fluctuations; availability/cost of raw materials; competitive packaging, pricing and substitution; changes in climate and weather; competitive activity; failure to achieve synergies, productivity improvements or cost reductions; mandatory deposit or other restrictive packaging laws; customer and supplier consolidation, power and supply chain influence; changes in major customer or supplier contracts or a loss of a major customer or supplier; political instability and sanctions; currency controls; changes in foreign exchange or tax rates, including due to the effects of the 2017 U.S. Tax Cuts and Jobs Act; and tariffs or other governmental actions in any country affecting goods produced by us or in our supply chain, including imported raw materials, such as pursuant to section 232 of the U.S. Trade Expansion Act of 1962; b) our aerospace segment include funding, authorization, availability and returns of government and commercial contracts; and delays, extensions and technical uncertainties affecting segment contracts; c) the company as a whole include those listed plus: changes in senior management; regulatory action or issues including tax, environmental, health and workplace safety, including U.S. FDA and other actions or public concerns affecting products filled in our containers, or chemicals or substances used in raw materials or in the manufacturing process; technological developments and innovations; litigation; strikes; labor cost changes; rates of return on assets of the company's defined benefit retirement plans; pension changes; uncertainties surrounding geopolitical events and governmental policies both in the U.S. and in other countries, including the U.S. government elections, budget, sequestration and debt limit; reduced cash flow; ability to achieve cost-out initiatives and synergies; interest rates affecting our debt; and successful or unsuccessful joint ventures, acquisitions and divestitures, including with respect to the Rexam PLC acquisition and its integration, or the associated divestiture; the effect of the acquisition or the divestiture on our business relationships, operating results and business generally.