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29.09.2020 – 07:35

Lenzing AG

EANS-News: Lenzing AG
Lenzing is founding partner of the Renewable Carbon Initiative

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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is responsible for the content of this announcement.
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The newly launched Renewable Carbon Initiative strives to herald the end of the
fossil age for all organic chemicals and materials by 2050.

Joint Ventures/Cooperation/Collaboration/Company Information

Lenzing - Eleven leading companies from six countries founded the Renewable
Carbon Initiative (RCI) in September 2020 under the leadership of nova-Institute
(Germany). The aim of the initiative is to support and speed up the transition
from fossil carbon to renewable carbon for all organic chemicals and materials.

Besides Lenzing, these ten companies are founding members of the RCI, which also
form the Core Advisory Board: Beiersdorf (Germany), Cosun Beet Company (The
Netherlands), Covestro (Germany), Henkel (Germany), LanzaTech (USA), NESTE
(Finland), SHV Energy (The Netherlands), Stahl (The Netherlands), Unilever (UK)
and UPM (Finland).

The Renewable Carbon Initiative (RCI) addresses the core problem of climate
change, which is extracting and using additional fossil carbon from the ground.
The vision is stated clearly: By 2050, fossil carbon shall be completely
substituted by renewable carbon, which is carbon from alternative sources:
biomass, direct CO2 utilisation and recycling. The founders are convinced that
this is the only way for chemicals, plastics and other organic materials to
become sustainable, climate-friendly and part of the circular economy - part of
the future.

Robert van de Kerkhof, Chief Commercial Officer of the Lenzing Group: "We at
Lenzing believe that we need to create strategic partnerships to implement
systemic change. Therefore, we support the Renewable Carbon Initiative. First of
all, because it is the right thing to do and, second, it is also fully aligned
with our corporate strategy. Therefore, we are part of the RCI from the
beginning and its commitment to start acting now."

Michael Carus, CEO of nova-Institute and head of the Renewable Carbon
Initiative: "This is about a fundamental change in the chemical industry. Just
as the energy industry is being converted to renewable energies, so renewable
carbon will become the new foundation of the future chemical and material
industry. The initiative starts today and will be visibly present from now on.
We want to accelerate the change."

The main avenues on which the initiative wants to deliver change are threefold.
One, the initiative strives to create cross-industry platforms that will
demonstrate feasibility of renewable carbon in tangible activities. Two, one
main target will be to advocate for legislation, taxation and regulation changes
to give renewable carbon a level commercial playing field to play on. Finally,
the third avenue will be to create a wider pull for sustainable options by
raising awareness and understanding of renewable carbon level amongst the
business community and the wider public.

The Renewable Carbon Initiative has made a powerful start with eleven
international member companies and the personal support of more than 100
industry experts. The initiative hopes to gain many additional members and
supporters in the upcoming months to keep the strong momentum of the initiative.
Working together, RCI will support and accelerate the transition from fossil to
renewable carbon for all organic chemicals and materials.

In the end, the aim is as complex as it is simple: renewable energy and
renewable carbon for a sustainable future. Within the RCI Lenzing will
especially focus on further greening up the textile and nonwoven businesses.
Here we will promote this concept and encourage our partners to become a part of
this vision.

More information about the Renewable Carbon Initiative can be found on
www.renewable-carbon-initiative.com [https://renewable-carbon-initiative.com/].


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Further inquiry note:
Filip Miermans
Vice President Corporate Communications & Public Affairs
Lenzing AG
Phone: +43 664 8477802
E-mail: f.miermans@lenzing.com

end of announcement                         euro adhoc
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issuer:       Lenzing AG

              A-4860 Lenzing
phone:        +43 7672-701-0
FAX:          +43 7672-96301
mail:      office@lenzing.com
WWW:       http://www.lenzing.com
ISIN:         AT0000644505
indexes:      ATX, WBI
stockmarkets: Wien
language:     English