Polish Tissue Producer Velvet Care Signs Agreement for Investment in Gas Cogeneration

We are pleased to inform you that on 17.08.2023 we signed an agreement for co-financing the investment in gas cogeneration from the funds of the National Fund for Environmental Protection and Water Management. This is a breakthrough in the implementation of our sustainable development strategy, and this project will help us reduce our carbon footprint in Scope 1 and Scope 2 emissions by as much as 46 percent in total.

The co-financing in the amount of approximately PLN 31 million from the “Cogeneration for Energy and Industry” program under the Modernization Fund will cover approximately 50 percent of the value of the Velvet CARE investment. We aim at completing the project within the next 2 years.

Since the very beginning of our business activity, we have constantly strived to increase production efficiency, while fostering environmental awareness. The new system at the Klucze plant will help reduce the annual emission of CO2 by about 69,000 tons. For comparison, the emissivity in the given scopes was 151,000 tons of MgCO2e in 2022. Such a significant reduction is proof of our involvement and meeting the commitments set out in the Eco Agenda 2025 sustainable development strategy.

The cogeneration system in Klucze is to generate 16.7 MW of electricity and 23.3 MW of thermal energy to be used for the tissue paper drying process. The new installation will significantly reduce the plant’s demand for electricity from the external network and secure most of its needs for electricity. As a result, the carbon footprint of Velvet CARE within Scope 1 and Scope 2 will be reduced by approximately 46 percent, which is a breakthrough achievement on our road to carbon neutrality.

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