"UFlex Signs Agreement to Source Renewable Power for Karnataka Packaging Films Plant"

UFlex Limited has taken a major step towards sustainability by entering into a long-term Power Purchase Agreement (PPA) with Amplus Phoenix Private Limited to source renewable power under a group captive power policy. This agreement will supply solar energy to UFlex's Packaging Films manufacturing plant in Dharwad, Karnataka, contributing significantly to UFlex's goal of achieving net zero carbon emissions by 2035 or earlier.

The renewable power sourced through this agreement is expected to reduce UFlex's carbon emissions by approximately 19,000 tCO2e. The Dharwad facility, which began operations in Q2 2022, houses a state-of-the-art packaging films plant with a BOPET line, a CPP line, and plasma-enhanced high-barrier metallizers, providing a combined capacity of 93,000 TPA. The plant serves as an important addition to UFlex's extensive global manufacturing network, which spans nine countries.

The agreement underscores UFlex's commitment to sustainability and the adoption of renewable energy sources for its operations. This strategic move aims to significantly reduce the company's greenhouse gas emissions and is in line with UFlex's broader vision for a more sustainable future.

Mr. Apoorvshree Chaturvedi, Director of Global Operations at UFlex Group, highlighted the company's focus on renewable energy and reducing its carbon footprint. He emphasized that UFlex has a clear energy optimization transition strategy to minimize emissions, indicating that the company is dedicated to promoting sustainable practices that benefit the environment, ensure long-term business success, and create stakeholder value.

"UFlex is a pioneer in recycling multi-layer mixed plastics and aseptic packaging waste and has taken the initiative to share its knowledge and expertise with corporations and economies worldwide," Chaturvedi noted. He added that the company's investment in renewable energy is a significant step towards a more sustainable and environmentally conscious future, aligning with the company's core values and sustainability goals.

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