DENSO Announces Solar Energy Commitment in Partnership with City of Maryville Electric, TVA, and Silicon Ranch

• Innovative collaboration supports DENSO's path to carbon neutrality as part of its Two Great Causes
• DENSO will access solar energy at its Maryville, Tennessee, site through TVA programs designed to reduce carbon emissions, create clean energy investments, and support economic development activities across the region

SOUTHFIELD, Mich., July 6, 2022 /PRNewswire/ -- DENSO, a leading mobility supplier, will participate in a portfolio of solar projects that will help power operations at its Maryville, Tennessee, facility. Through an innovative collaboration with local utility City of Maryville Electric Department, the Tennessee Valley Authority (TVA), and Silicon Ranch Corporation, DENSO will receive a portion of the renewable energy generated by four solar power plants, starting with one located on DENSO's Maryville campus.

This work helps advance DENSO's Two Great Causes: Green—achieving carbon neutrality by 2035—and Peace of Mind—creating a safe and seamless world for all. It also supports the company's involvement in the U.S. Department of Energy's Better Plants program. Both reinforce and accelerate DENSO's commitment to reducing the environmental impact of its manufacturing operations and energy use.

"DENSO is developing mobility technologies to support a better planet, while also making sustainability gains across our global footprint," said Denise Carlson, vice president of DENSO's North America Production Innovation Center and sustainability lead in the region. "This partnership marks an important milestone along this journey and furthers us on our path to a safer, greener future."

The City of Maryville has steadfastly supported DENSO's sustainability objectives. During its monthly meeting on July 5, the Maryville City Council approved three contracts between the City of Maryville Electric Department and independent power producer Silicon Ranch for a total of 10.5 megawatts (MW_AC) of solar energy under TVA's Generation Flexibility program, a portion of which will serve DENSO's local operations. The program enables participating local power companies to generate up to 5% of their total energy load to meet the renewable energy goals of their customers, attract sustainability-focused businesses to their communities, and solve individual challenges for their distribution systems.

"TVA's Generation Flexibility program offered us the right vehicle to serve the needs of Maryville's largest employer while attracting significant capital investment to our community," said City of Maryville Public Utilities Director Baron Swafford. "This cooperative effort is reflective of the goals of City leadership to support and assist our customers in successfully achieving their objectives."

In addition to its role in the three solar projects under TVA's Generation Flexibility program, DENSO will also participate in TVA's Green Invest program through a fourth Silicon Ranch facility. The nationally recognized program offers business and industry a timely and cost-effective solution to aggressively meet their sustainability goals. Further details on the project will be provided once agreements have been completed with all Green Invest participants.

"TVA is building the energy system of the future, and we applaud City of Maryville Electric and DENSO for leveraging two versatile, customer-focused TVA Green programs to meet their needs," said Doug Perry, TVA Senior Vice President of Commercial Energy Solutions. "Partnering with developers like Silicon Ranch helps us meet customer sustainability goals, improve the Valley carbon position  and drive positive economic impacts in the communities we serve."

On behalf of City of Maryville Electric, TVA, and DENSO, Silicon Ranch will fund, construct, own, operate, and maintain each of the four solar power plants for the long-term, a disciplined and differentiated approach the company takes with every project it develops.

"Silicon Ranch takes great pride in our role as a trusted local partner to help TVA and local power companies like City of Maryville Electric deliver value to the customers and communities they serve," said Luke Wilkinson, Senior Vice President of Project Development at Silicon Ranch, a Maryville native whose family has been in the local community for seven generations. "The customer-centric approach of City of Maryville and TVA reflects the best of public power, and DENSO's sincere commitment to sustainability has helped expand our own meaningful investments here in Tennessee. Silicon Ranch is proud to contribute to this special partnership."

If you're interested in working at a company committed to sustainability while transforming mobility and growing careers, see opportunities at https://densocareers.com/.

DENSO is a $45.1 billion global mobility supplier that develops advanced technology and components for nearly every vehicle make and model on the road today. With manufacturing at its core, DENSO invests in its 198 facilities to produce electrification system, powertrain system, thermal system, mobility electronics, & advanced devices, to create jobs that directly change how the world moves. The company's 167,000+ employees are paving the way to a mobility future that improves lives, eliminates traffic accidents, and preserves the environment. Globally headquartered in Kariya, Japan, DENSO spent 9.0 percent of its global consolidated sales on research and development in the fiscal year ending March 31, 2022. For more information about global DENSO, visit https://www.denso.com/global/en/.

In North America, DENSO is headquartered in Southfield, Michigan, and employs 27,000+ engineers, researchers, and skilled workers across 51 sites in the U.S, Canada and Mexico. In the United States alone, DENSO employs 17,700+ employees across 14 states (and the District of Columbia) and 41 sites. In the fiscal year ending March 31, 2022, DENSO in North America generated $9.5 billion in consolidated sales. DENSO is committed to advancing diversity and inclusion inside the company and beyond – a principle that brings unique perspectives together, bolsters innovation, and pushes DENSO forward. Join us, and craft not only how the world moves, but also your career: densocareers.com. For more information, go to https://www.denso.com/us-ca/en/

The City of Maryville is a municipality in Blount County, Tennessee serving over 30,000 residents and 3,000 commercial and industrial customers. Citizens elect a five-member City Council which directs a professional City Manager to attend to the City's daily business – performed by more than 300 people who have dedicated their careers to public service. Drawing from the wisdom of 225 years of history, city leaders guide the city's policies and form innovative partnerships to offer the best options for our community. For more information visit www.maryvillegov.com

The Tennessee Valley Authority is a corporate agency of the United States that provides electricity for business customers and local power distributors serving nearly 10 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.

Founded in 2011, Silicon Ranch is a fully integrated provider of customized renewable energy, carbon, and battery storage solutions for a diverse set of partners across North America. The company is one of the largest independent power producers in the country, with a portfolio that includes more than five gigawatts of solar and battery storage systems that are contracted, under construction, or operating across the U.S. and Canada. Silicon Ranch owns and operates every project in its portfolio and has maintained an unblemished track record of project execution, having successfully commissioned every project it has contracted in its history. In recognition of its holistic approach to land management, which the company has trademarked Regenerative Energy®, Silicon Ranch was named 2020's "Most Forward-Thinking" company by Solar Power World. In 2021, Silicon Ranch acquired Clearloop, which helps businesses of all sizes reclaim their carbon footprint with a direct investment in building new solar projects while expanding access to clean energy. Nashville-based Silicon Ranch pioneered utility-scale solar in the state of Tennessee and remains a market leader, with more than 50 solar projects across the Tennessee Valley. To learn more, visit siliconranch.com, regenerativeenergy.org, and clearloop.us. Follow Silicon Ranch on Facebook, Instagram, Twitter, and LinkedIn.

SOURCE DENSO