This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

IFF Announces Grand Opening Of Its Photovoltaic Solar Installation In New Jersey Supporting The Company’s Commitment To Clean, Renewable Energy

Stocks in this article: IFF

International Flavors & Fragrances Inc. (NYSE:IFF), a leading global creator of flavors and fragrances for consumer products, today announced the grand opening of its photovoltaic solar installation at its Hazlet, New Jersey facility, supporting the Company’s commitment to clean, renewable energy as part of its overall sustainability strategy.

“As IFF has moved to embed sustainability throughout our operations and processes, this solar installation is a physical testament to how aligning our commitment to sustainability with corporate long-term strategy helps us achieve Triple Bottom Line benefits,” said Doug Tough, IFF’s Chairman and Chief Executive Officer. “We are proud to be at the forefront of using renewable energy in the Flavors and Fragrances industry and see a future where such innovations extend beyond local boundaries and provide a competitive advantage for us on a global scale.”

Nicolas Mirzayantz, IFF Group President, Fragrances and Executive Sustainability Champion, said, “This solar installation will stand as a visible symbol of IFF’s commitment to product creation and manufacturing in a sustainable manner, as well as a pillar of employee pride as it becomes the prototype for future renewable energy installations.”

The 4,000 kilowatt solar installation has more than 16,000 modules and approximately 1 million solar cells covering 20 acres of IFF property. The solar installation is a major milestone in IFF’s sustainable development and corporate social responsibility initiatives. It aligns with the Company’s values and its corporate strategy, demonstrating commitment to its Sustainability Triple Bottom Line strategy:

  • Environmentally: the installation is expected to supply 40 percent of the electricity needs of the Hazlet, NJ fragrances manufacturing and creative center facilities. The clean energy generated is projected to reduce the site’s carbon dioxide emissions by approximately 3,200 metric tons annually and prevent greenhouse gas emissions equivalent to planting approximately 2,600 acres of trees a year.
  • Economically: IFF partnered with GeoPeak Energy in the development of a Power Purchase Agreement. This has the double benefit of no capital investment from IFF and projected annual savings in electricity costs.
  • Socially: this project was developed through the creativity, passion and expertise of IFF’s Hazlet Green Team with the support of corporate leadership and many corporate functions. The solar field is already a source of pride for the local community, recently receiving the Corporate Good Neighbor Award from the Northern Monmouth Chamber of Commerce.

Kip Cleverley, Director of Global Sustainability at IFF, said, “Our global 2020 eco-efficiency goals include reducing our energy use by 20 percent and reducing greenhouse gas emissions by 25 percent. Projects like the solar installation in Hazlet put us on the right path to achieving those goals as we focus on clean renewable energy and consequently support the greening of our customers’ supply chains.”

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,670.31 -2.29 -0.01%
S&P 500 2,055.34 +3.52 0.17%
NASDAQ 4,766.0040 +8.1250 0.17%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs