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IOCO PACKAGING, UAB IS INVESTING IN RENEWABLE ENERGY SOURCES

Currently the packaging production market, which includes IOCO Packaging, UAB, is increasingly focusing on environmental protection both globally and locally. The market for packaging production has recently brought enormous new opportunities but at the same time has presented many challenges. The number of environmental investments and various agreements is increasing, requirements for business operations are becoming more strict, consumer awareness is increasing, as well as expectations not only for the quality of the final product, but also for the processes used for manufacturing the product. In order to successfully meet these challenges, to ensure operation of the company and its long-term survival, the company must not only continuously maintain a high level of production technology, but also invest in measures to improve environmental efficiency and effectiveness.

In order to optimize production costs and increase investment in product quality, volume and to reduce the negative impact of production processes on the environment, IOCO Packaging, UAB launched a project “Solar Power Generation Capacity in Production Processes of IOCO Packaging, UAB”. The project involves the installation of a solar power plant (0.3MW) by installing solar modules on roofs of existing company buildings. This solar plant will help reduce production costs and positively influence environmental processes.

In addition, the company will contribute to the EU Baltic Sea Region Strategy, approved by the European Commission, as part of its “Increase Prosperity” objective of its policy “Energetics”, since installation of a solar power plant will reduce carbon dioxide (CO2) emissions from electricity production, thereby mitigating the impact of the energy sector on climate change.

The project is carried out in accordance with the 2016 EU Structural Funds financing instrument No. 04.2.1-LVPA-K-836 “Renewable Energy Sources for Industry LT+”. The project is funded by the European Regional Development Fund.

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