Faraday Signed Renewable Energy Procurement Agreement for Net-zero Carbon Emission
Hsinchu, Taiwan, Nov 7, 2024
Faraday Technology Corporation (TWSE: 3035), a leading provider of ASIC design services and IP solutions, today announced its signing of a Corporate Power Purchase Agreement (CPPA) with Chailease and Yaoyue Green Energy for the procurement of 3 million kWh of renewable energy over the next three years. Through solar panel installations and the renewable energy acquisitions, Faraday has been enhancing its green energy usage since 2024, progressing towards net-zero carbon emission.
Focusing on ASIC design and IP development, Faraday implements its ESG strategies across five key areas of innovative management, partnership for prosperity, a friendly workplace, environmental sustainability, and social inclusion. It aims to reduce carbon emissions by 50% by 2030 and achieve net-zero emission by 2050. As its business expands, Faraday plans to increase its usage of renewable energy to over 50% by 2030 through diverse procurement strategies.
“In leading technology innovation, Faraday also aspires to set a new benchmark in environmental sustainability. Utilizing renewable energy supports the Earth’s ecology; this CPPA is projected to reduce approximately 1,400 tons of carbon dioxide emission,” said Flash Lin, COO of Faraday Technology. “We will continue exploring more solutions to reduce our carbon footprint and collaborating closely with our supply chain partners to achieve comprehensive net-zero carbon emission,” he added.
About Faraday Technology Corporation
Faraday Technology Corporation (TWSE: 3035) is dedicated to the mission of benefiting humanity and upholding sustainable values in every IC it handles. The company offers a comprehensive range of ASIC solutions, including total 3DIC packaging, Neoverse CSS design, FPGA-Go-ASIC, and design implementation services. Furthermore, its extensive silicon IP portfolio encompasses a wide array of offerings, such as I/O, Cell Library, Memory Compiler, ARM-compliant CPUs, LPDDR4/4X, DDR4/3, MIPI D-PHY, V-by-One, USB 3.1/2.0, 10/100 Ethernet, Giga Ethernet, SATA3/2, PCIe Gen4/3, and SerDes. For further details, visit www.faraday-tech.com or follow Faraday on LinkedIn.
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