Stoneridge to Source 100% Renewable Energy at Lexington Manufacturing Facility

Rhea-AI Summary

Stoneridge (NYSE: SRI) has announced a three-year agreement with Direct Energy, an NRG Energy brand, to power its Lexington, Ohio manufacturing facility with 100% renewable energy through renewable energy certificates (RECs). The initiative will generate over 13,000 megawatt hours (MWh) of carbon-free electricity annually, equivalent to eliminating 13.5 million pounds of CO₂ emissions per year.

The RECs will be sourced from a wind facility, demonstrating Stoneridge's commitment to environmental responsibility and operational efficiency. The company's global sustainability efforts extend to other facilities in Manaus, Brazil; Tallinn, Estonia; and Örebro, Sweden, which already utilize green or low-carbon energy sources.

Positive

• Secured 3-year renewable energy agreement for major manufacturing facility
• 13,000 MWh annual carbon-free electricity generation
• Multiple global facilities already using green energy, showing systematic sustainability implementation

Negative

• None.

News Market Reaction – SRI

+20.71%

+20.71% Session move

In the trading session that priced this news, SRI gained 20.71%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NOVI, Mich., Feb. 27, 2025 /PRNewswire/ -- Stoneridge, Inc. (NYSE: SRI) today announced a three-year agreement with NRG Energy, Inc.'s brand, Direct Energy, to support 100% of the electricity needs for its manufacturing facility in Lexington, Ohio. This initiative, achieved through the purchase of renewable energy certificates (RECs), underscores Stoneridge's commitment to reducing its carbon footprint and advancing sustainability.

"Transitioning to renewable energy is an important step in our sustainability journey," said Jim Zizelman, president and CEO of Stoneridge. "This agreement reflects our ongoing commitment to environmental responsibility while ensuring operational efficiency at our Lexington facility."

Under the Direct Energy agreement, Stoneridge will purchase RECs sourced from a wind facility. This initiative is projected to generate over 13,000 megawatt hours (MWh) of carbon-free electricity each year, substantially lowering the facility's emissions. The environmental benefit is comparable to removing approximately 13.5 million pounds of CO₂ from the atmosphere each year.

Beyond Lexington, Stoneridge's global operations are also making strides in sustainability. The company's sites in Manaus, Brazil; Tallinn, Estonia; and Örebro, Sweden currently source green or low-carbon energy, further reinforcing its dedication to sustainable practices.

For more information on Stoneridge's ongoing efforts to build a more sustainable future, visit the Company's Sustainability site.

About Stoneridge, Inc.
Stoneridge, Inc., headquartered in Novi, Michigan, is a global designer and manufacturer of highly engineered electrical and electronic systems, components, and modules for the automotive, commercial, off-highway and agricultural vehicle markets. Additional information about Stoneridge can be found at www.stoneridge.com. 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/stoneridge-to-source-100-renewable-energy-at-lexington-manufacturing-facility-302387624.html

SOURCE Stoneridge, Inc.

FAQ

How much renewable energy will Stoneridge's Lexington facility generate through the Direct Energy agreement?

The agreement will generate over 13,000 megawatt hours (MWh) of carbon-free electricity annually.

What is the environmental impact of SRI's renewable energy initiative in Lexington?

The initiative will eliminate approximately 13.5 million pounds of CO₂ from the atmosphere annually.

Which other Stoneridge (SRI) facilities currently use renewable energy?

Stoneridge facilities in Manaus, Brazil; Tallinn, Estonia; and Örebro, Sweden currently source green or low-carbon energy.

What type of renewable energy source will Stoneridge use for its Lexington facility?

The renewable energy certificates (RECs) will be sourced from a wind facility.