BOVIET SOLAR RELEASES 2023 SUSTAINABILITY REPORT

Report demonstrates progress toward and impact on environmental, social, and governance initiatives, including diversity, equity, and inclusion priorities.

SAN JOSE, Calif., July 12, 2024 /PRNewswire/ -- Boviet Solar Technology Co. Ltd. (the "Company" or "Boviet Solar"), a leading solar energy technology company specializing in manufacturing monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, today announced the publication of its 2023 ESG report. The report highlights the company's sustainability activities, performance, and results.

The report showcases Boviet Solar's significant strides towards its 2030 sustainability goals. These include reducing environmental impact, investing in local communities, fostering a safe, inclusive, and respectful workplace, driving responsible and ethical business practices, and accelerating a more sustainable value chain in collaboration with customers, partners, and suppliers.

Key ESG Milestones (2019-2023):

• 38% decrease in cell electricity intensity
• 48% decrease in module electricity intensity
• 68% decrease in water intensity
• 100% of photovoltaic component designs passed the Toxicity Characteristic Leaching Procedure (TCLP) tests
• 48% decrease in waste emission intensity
• 91% increase in waste recycling and reuse intensity
• 0 recorded injury rate per million work hours for 2023
• 49.16% of employees are female
• Workforce includes nationalities from Asia, the Americas, and Europe
• Transparent supply chain protocols with third-party independent audits
• A diverse board of directors with 33% independent directors

Future Goals (by 2030):

• Reduce GHG intensity by 28%
• Decrease solar cell electricity intensity by 28%
• Decrease solar module electricity intensity by 28%
• Reduce water intensity by 25%
• Reduce waste intensity by 22%

Prepared in accordance with the Global Reporting Initiative (GRI) Standards, Boviet Solar's 2023 sustainability report is available for review at globalreporting.org.

Jimmy Xie, General Manager of Boviet Solar, expressed his pride in the company's progress. "The strides we've made toward our long-term commitments are a testament to our employees' ongoing dedication and contributions, and collaboration with our suppliers, partners, community, and customers," he said. "Sustainability is an ongoing journey, and we will continue to further embrace sustainable, responsible manufacturing practices as we build great products for our customers, deliver stakeholder value, and do our part to help address broader environmental and social call-to-actions for current and future generations."

Boviet Solar remains committed to the United Nations Global Sustainability Goals and will continue to focus on operating as a responsible business, advancing ESG initiatives to create healthier futures for all living things, starting with the health of people and the planet.

Boviet Solar's sustainability report can be downloaded at: bovietsolar.com/sustainability.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar, is a leading solar technology company that specializes in the manufacturing of Monocrystalline PERC, TOPCon PV cells and Gamma Series™ Monofacial, Vega Series™ Bifacial PV modules, as well as solar project development. The company offers business, financial stability, technological know-how, manufacturing excellence, top-performing PV modules, supply chain transparency and strong environmental, social, corporate governance protocol and client relations based on mutual partnership. As of January 2024, Boviet Solar's annual PV cell and PV module manufacturing capacity is 3.0 GW, it has delivered a total of 6.2 GW since inception and mainly focuses on the U.S. market.

The company works with EPCs, developers, installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. With a proven track record of successfully working with many of the industry's leading players, Boviet Solar has been named top 10 Global bankable PV module manufacturers by Wood and Mackenzie.  Boviet Solar's PV Modules are known for their power, performance, and quality and have been rated as top performers on Kiwa/PVEL's PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent assessment of Boviet Solar's manufacturing facilities in 2022. Boviet Solar's manufacturing facilities are located in Vietnam and the U.S. with offices in the United States, Germany, and China, and its global headquarters in Vietnam. For more information about our company and products please visit www.bovietsolar.com.

SOURCE Boviet Solar