SME Logo

About SME



 

Toray Plastics Earmarks $22.7 Million on Second Cogeneration System

Share this

NORTH KINGSTOWN, R.I., August 20, 2013 ― Toray Plastics America, a manufacturer of precision-performance polyester, polypropylene, metallized and bio-based films, will begin construction on a second cogeneration system at its 70-acre North Kingstown, R.I., campus.

The firm said cogeneration power systems allow users to operate “off the grid” and prevent the kind of electrical power outages that can occur with conventional power plants. Toray already operates a cogeneration system that supplies continuous power to its Lumirror polyester film division, which sustains manufacturing production even during severe weather events and enables the company to provide uninterrupted customer service.

The new system, which is expected to be operational next March 2014, will be dedicated to powering production for the Torayfan polypropylene film division and other sites around the property. The firm said it will dramatically reduce Toray’s demand on the supply of electricity to nearby Rhode Island communities, particularly during peak periods in the summer months.

“Toray has a legacy of innovation and commitment to sustainability, as demonstrated by our product development and operations,” says Rick Schloesser, president and CEO, Toray Plastics America. “Our taking action to reduce further our energy consumption and carbon footprint is good for business, people, and the environment. Our global customers value our focus on producing the highest-quality high-performance, competitively-priced OPP and PET films and our comprehensive sustainability initiative.”

Toray earmarked $22.7 million for the development of the new system, including funds from National Grid’s Energy Efficiency Program, developed in collaboration with the state of Rhode Island.

The company’s decision to build a new cogeneration unit is supported by the Rhode Island Public Utilities Commission, National Grid, which supplies 100 percent of the electricity distributed to Toray beyond Toray’s own cogenerated electricity. This major investment follows Toray’s recent $15 million investment in new coating equipment.

Source: areadevelopment.com, © 2013 Halcyon Business Publications Inc.

###

If you have any questions or comments, please contact SME Public Relations at 313.425.3000, email communications@sme.org or fax: 313.425.3403.