The company leads the automotive
preventive maintenance industry by joining
the EPA's Green Power Partnership
LEXINGTON, Ky., July 8, 2024 /PRNewswire/ -- Valvoline Inc.
(NYSE: VVV), the quick, easy, trusted leader in preventive
automotive maintenance, announced today that it recently joined the
U.S. Environmental Protection Agency's Green Power Partnership,
recognizing the more than 7 million kilowatt-hours (kWh) of green
power the company uses annually. This represents 15% of the
company's total electricity use, which according to the U.S. EPA,
is the equivalent to the annual electricity use of more than 700
average American homes.
"It is an honor to be recognized by the U.S. Environmental
Protection Agency for the work our teams have been doing to advance
our environmental stewardship," said Lori
Flees, President and CEO of Valvoline Inc. "Using green
power helps our company reduce its greenhouse gas (GHG) emissions
footprint, while also advocating for green power as an affordable,
accessible choice."
The company has thoughtfully evaluated its purchase of renewable
energy certificates (RECs), with most coming from renewable energy
suppliers in the United States,
including wind and solar projects established in the past 15 years.
These efforts are helping to reduce the negative health impacts of
air emissions including those related to ozone, fine particles,
acid rain, and regional haze.
The Green Power Partnership recognition is just one way
Valvoline Inc. supports a culture of sustainability. In fiscal
2023, the company invested over $1.1
million in preventive maintenance and energy efficiency
upgrades across its company-operated stores in the United States. These upgrades included
replacing inefficient HVAC systems with newer models and upgrading
exterior signage and interior lighting to LEDs. In addition,
company-operated service center locations recycle nearly all
products used in core service offerings, including oil filters,
vehicle batteries, and antifreeze. This diverted nearly 500 tons of
standard trash from landfills in fiscal 2023. Learn more about
Valvoline Inc.'s environmental sustainability initiatives in its
fiscal 2023 Corporate Social Responsibility report.
About Valvoline Inc.
Valvoline Inc. (NYSE: VVV) is the quick, easy, trusted leader in
automotive preventive maintenance. Valvoline Inc. is creating
shareholder value by driving the full potential in our core
business, accelerating network growth and innovating to meet the
needs of customers and the evolving car parc. With approximately
1,900 service centers throughout North
America, Valvoline Inc. and our franchise partners keep
customers moving with our 4.6 out of 5 star* rated service that
includes 15-minute stay-in-your-car oil changes; battery, bulb and
wiper replacements; tire rotations; and other manufacturer
recommended maintenance services. In fiscal year 2023, Valvoline's
network delivered approximately 27 million services to generate
$1.4 billion in revenue from
$2.8 billion in system-wide store
sales, marking 17 years of consecutive system-wide same-store sales
growth. At Valvoline Inc., it all starts with our people, including
our more than 10,000 team members and strong, long-standing
franchise partners. We are proud to be an 11-time winner of the
BEST Award for training excellence and a top-rated franchisor in
our category by Entrepreneur and Franchise Times. To learn more, or
to find a service center near you, visit vioc.com.
* Based on a survey of more than 900,000 Valvoline Instant Oil
Change℠ customers annually
™ Trademark, Valvoline Inc., or its subsidiaries, registered in
various countries
℠ Service mark, Valvoline Inc., or its subsidiaries, registered in
various countries
® Registered trademark owned by a third party
About EPA's Green Power Partnership
The Green Power
Partnership is a voluntary program that helps increase green power
use among U.S. organizations to advance the American market for
green power and development of those sources as a way to reduce air
pollution and other environmental impacts associated with
electricity use. In 2022, the Partnership had nearly 700 Partners
voluntarily using nearly 95 billion kilowatt-hours of green power
annually. Partners include a wide variety of leading organizations
such as Fortune 500® companies; small and medium sized businesses;
local, state, and federal governments; and colleges and
universities. For additional information, please
visit www.epa.gov/greenpower.
For Further Information
Investor Inquiries
Elizabeth B. Russell
+1 (859) 357-3155
IR@valvoline.com
Media Inquiries
Angela Davied
+1 (877) 508-0832
media@valvoline.com
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SOURCE Valvoline Inc.