Hormel Foods on Track to Match 100% of Domestic Energy Use with Renewable Sourcing by End of 2022
Wind and solar projects helping drive the company toward its 20 By 30 Challenge renewable energy goal
AUSTIN, Minn., April 25, 2022 /3BL Media/ - Hormel Foods Corporation (NYSE: HRL), a global branded food company well known for its corporate citizenship, is pleased to announce that it anticipates matching 100% of its domestic energy use with renewable sourcing by the end of 2022. The renewable energy achievement is part of the company’s 20 By 30 Challenge, a set of 20 aggressive environmental and social responsibility goals Hormel Foods is striving to reach by 2030. Through the 20 By 30 Challenge, Hormel Foods is aiming to match 100% of its global energy use with renewable sourcing. The company’s 20 By 30 Challenge ambitions help support the UN Sustainable Development Goals and advance the company’s strong environmental, social and governance (ESG) leadership.
“We are inspired to do our part to make the world a better place,” said Mark Coffey, group vice president of supply chain for Hormel Foods. “This achievement demonstrates our commitment to environmental stewardship including rethinking how we source the energy we need.”
In 2021, the company celebrated the launch of large-scale renewable energy projects, including:
- Western Trails wind project located in northern Texas;
- Caddo wind site in southern Oklahoma; and
- Haystack wind project located in eastern Nebraska.
In addition, the company completed its newest solar energy project at its Jennie-O Turkey Store plant in Montevideo, Minn. The 1.75-megawatt project, which hosts a community solar array, will provide approximately 10% of the plant’s energy needs.
“The U.S. Environmental Protection Agency applauds Hormel Foods for its leadership position in the green power marketplace," said James Critchfield, program manager of EPA's Green Power Partnership. “Hormel Foods is an excellent example for other organizations in reducing greenhouse gas emissions through green power investment and use.”
Hormel Foods has been named one of America’s Most Trustworthy Companies and one of America’s Most Responsible Companies by Newsweek. The company has also been recognized as one of the World’s Top Female-Friendly Companies by Forbes and has received several Impact Awards from Progressive Grocer for its educational support and food security programs.
The company’s 20 By 30 Challenge goals follow its previous set of sustainability goals that Hormel Foods focused on as it achieved significant reductions in its packaging, nonrenewable energy use, greenhouse gas emissions, water use and solid waste sent to landfills.
More information about the company’s efforts can be found at https://csr.hormelfoods.com/ and https://www.hormelfoods.com/responsibility/.
ABOUT HORMEL FOODS – INSPIRED PEOPLE. INSPIRED FOOD.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $11 billion in annual revenues across 80 countries worldwide. Its brands include Planters®, SKIPPY®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin’s®, Columbus®, WHOLLY®, Hormel® Black Label®, Jennie-O®and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the “Global 2000 World’s Best Employers” list by Forbes magazine for three years, is one of Fortune magazine’s most admired companies, has appeared on Corporate Responsibility Magazine’s “The 100 Best Corporate Citizens” list for 12 years, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world’s most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and https://csr.hormelfoods.com/.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking” information within the meaning of the federal securities laws. The “forward-looking” information may include statements concerning the Company’s outlook for the future as well as other statements of beliefs, future plans, strategies, or anticipated events and similar expressions concerning matters that are not historical facts. Such statements are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results and those anticipated or projected, which factors include, but are not limited to, risks related to the deterioration of economic conditions; risks associated with acquisitions and divestitures; potential disruption of operations at co-manufacturers, suppliers, logistics providers, customers, or other third-party service providers; risk of loss of a material contract; the Company’s inability to protect information technology systems against, or effectively respond to, cyber attacks or security breaches; deterioration of labor relations, labor availability or increases to labor costs; general risks of the food industry, fluctuations in commodity prices and availability of raw materials and other inputs; fluctuations in market demand for the Company’s products; risks of litigation; potential sanctions and compliance costs arising from government regulation; compliance with stringent environmental regulation and potential environmental litigation; and risks arising from the Company’s foreign operations. Please refer to the cautionary statements regarding “Risk Factors” and “Forward-Looking Statements” that appear in our most recent Annual Report on Form 10-K and Quarterly reports on Form 10-Q, which can be accessed at hormelfoods.com in the “Investors” section, for additional information. In making these statements, the Company is not undertaking, and specifically declines to undertake, any obligation to address or update each or any factor in future filings or communications regarding the Company’s business or results. Though the Company has attempted to list comprehensively these important cautionary risk factors, the Company wishes to caution investors and others that other factors may in the future prove to be important in affecting the Company’s business or results. The Company cautions readers not to place undue reliance on forward-looking statements, which represent current views as of the date made.
# # #
