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Thermo Fisher's latest net-zero milestone to be achieved through 200-megawatt solar project
Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced it will power all of the company's current U.S. sites with 100 percent renewable electricity by 2026. The company's new 20-year virtual power purchasing agreement with EDF Renewables includes the full output of the 200-megawatt (MW) Millers Branch Solar project.
The agreement with EDF Renewables will deliver approximately 545,000 MWh of renewable electricity annually from the Millers Branch Solar project in Texas. This project complements Thermo Fisher's previously announced agreement with Enel North America for the Seven Cowboy wind project. Together, these projects will provide enough renewable power to match all of Thermo Fisher's current U.S. electricity needs.
"Transitioning away from fossil fuels and adopting renewable energy accelerates our progress toward net-zero carbon emissions by 2050," said Marc N. Casper, chairman, president and chief executive officer of Thermo Fisher. "Our agreement with EDF Renewables further demonstrates our commitment to addressing climate change and creating a more sustainable world for all—a goal that is deeply rooted in our Mission to enable our customers to make the world healthier, cleaner and safer."
The impact of the company's U.S. transition to renewable electricity contributes significantly to Thermo Fisher's recently announced commitment to raise its 2030 reduction target for Scope 1 and 2 greenhouse gas emissions—from 30% to 50%, based on a 2018 baseline. 1 The new 50% reduction target, announced in December 2022 , fulfills Thermo Fisher's commitment to the Business Ambition to 1.5˚C campaign and aligns its climate strategy with the Paris Agreement and its reduction targets with the 1.5˚C pathway.
Thermo Fisher has submitted its climate targets to the Science Based Targets initiative (SBTi) for validation. SBTi establishes standards, guidance, and tools to drive ambitious climate action in the private sector. Thermo Fisher is among the first companies in its sector to submit net-zero climate targets to SBTi.
The Millers Branch Solar project is expected to be operational by December 2025. Thermo Fisher was supported by Sustainability Roundtable Inc.'s Net Zero Consortium for Buyers, a platform committed to helping corporate buyers with global decarbonization strategies and favorable renewable energy transactions.
More information about Thermo Fisher's environmental, social, and governance progress can be found at www.thermofisher.com/csr .
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. is the world leader in serving science, with annual revenue of more than $40 billion. Our Mission is to enable our customers to make the world healthier, cleaner and safer. Whether our customers are accelerating life sciences research, solving complex analytical challenges, increasing productivity in their laboratories, improving patient health through diagnostics or the development and manufacture of life-changing therapies, we are here to support them. Our global team delivers an unrivaled combination of innovative technologies, purchasing convenience and pharmaceutical services through our industry-leading brands, including Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon and PPD. For more information, please visit www.thermofisher.com .
1 New target is 50.4%. Both targets from a 2018 baseline.
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