Daily Newsletter

07 September 2023

Daily Newsletter

07 September 2023

Avery Dennison makes major investment in solar energy

The packaging company’s commission is said to be Europe’s largest solar thermal platform and thermal storage unit.

Claire Jenns September 07 2023

Avery Dennison has commissioned a concentrated solar thermal (CST) platform and thermal storage unit at its production plant in Turnhout, Belgium.

The CST has 2,240 surface mirrors, with a solar field peak yield of 2.7 GWh thermal power, alongside six thermal storage modules with a capacity of 5 MWh thermal power.

The platform covers roughly 5,540 square metres on site. It will reportedly contain the largest installation of parabolic mirrors combined with thermal energy storage in an industrial setting in Europe.

In operation, the total installation will provide heat equivalent to 2.3 GWh of gas consumption, reducing the plant’s greenhouse gas emissions by an average of 9% annually – compared to current rates. During summer months and high-sunshine periods, it will provide up to 100% of the factory’s heat demand.

By supplying zero-carbon solar energy, the project will help provide heat to run drying ovens, which are used during the coating process of pressure-sensitive adhesive products manufactured at the site. These products are used in industries such as automotive, building and construction, medical devices, and personal care.

For this project, Avery Dennison collaborated with CST organisation Azteq, thermal energy storage provider EnergyNest, and local community group Campina Energie, which helped secure a portion of the project financing.

Avery Dennison performance tapes Europe general manager Mariana Rodriguez commented: “We have big ambitions to tackle climate change and achieve net zero by 2050. To meet these goals we will look across our industrial processes and identify opportunities to implement new technologies that decarbonise and reduce our reliance on fossil fuels.”

Avery Dennison recently reported a 53% decline in net income in Q2 2023, with the CEO attributing this to a slower recovery pace than expected for the company.

APAC region dominating the flexible packaging market

The global flexible packaging market will be valued at $112.4 Billion in 2023 and is expected to grow at a CAGR of 4.1% by 2030, per GlobalData. The increasing demand for packaged food and beverages is one of the prominent factors driving the market growth. The APAC region has emerged as the market leader (>50% share in 2023) due to easy availability of packaging material and low labor costs.

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