Oslo - June 11, 2018 (Investorideas.com Newswire) Yet another European corporation, this time ASML - the Dutch technology company, has made the construction of a new renewable power plant possible. Sandvik, a small hydropower plant on the west coast of Norway, is now generating electricity and supplying clean power to the grid. ASML provided crucial top-financing to the building of Sandvik through a high impact renewable energy product called ECOHZ GO2. GO2 combines the purchase of documented renewable power with the financing and building of new renewable power capacity.
ASML is the world's largest supplier of photolithography systems. Chip manufacturers use ASML's machines to produce the microchips that are at the center of electronic devices.
"ASML is committed to operating sustainably and takes responsibility for the economic, social and environmental impact of its business decision. GO2 provides a great opportunity for companies such as ASML to create new renewable energy production for the grid", the company states.
When a business purchases GO2, they match the energy they consume with documented energy production from a renewable source with a direct contribution to the ECOHZ Renewable Energy Foundation. The Foundation identifies and lends money to renewable energy projects that are ready to be constructed, but lack the final and crucial capital needed to initiate construction.
When a company purchases GO2 for a partial or full years' worth of electricity consumption, the company's purchase will set into motion multiple investments in new renewable energy production.
"After the ECOHZ Foundation loan has been repaid from the income of the renewable power plant that was financed, the ECOHZ Foundation will once again lend the money ASML contributed to other renewable energy projects in need of financing. Based on the current financing models we are using, ASML's single decision will result in the building of other renewable energy power plants in the future. We extrapolate that this system will by 2030 generate around 67 GWh. Sandvik is an example of how companies can easily contribute to renewable energy production and participate in the global energy transition," says Tom Lindberg, Managing Director of ECOHZ.
ECOHZ offers global renewable energy solutions to businesses, organisations and electricity providers - providing renewable electricity, from a wide range of sources, regions and qualities. Renewable electricity is documented by Guarantees of Origin in Europe, RECs in North America and International RECs (I-RECs) in a growing number of countries in Asia, Latin America and Africa. ECOHZ also provides an innovative additionality solution - GO² - combining renewable energy purchases with the financing and building of new renewable power generation. Companies choosing documented renewable energy can reduce their carbon footprint and improve their sustainability ratings. ECOHZ is among the leading independent suppliers in Europe, and has offices in Norway and Switzerland. ECOHZ endeavours to play an active role in the current energy transition through its vision of "changing energy behaviour". www.ecohz.com
For further information or interviews, please contact:
Peder Aarseth Krøgenes
+47 930 89 109
Pictures for media: https://www.dropbox.com/sh/iylne8syl8bi1da/AABMkylSNODlT9G1ywNgKPR9a?dl=0
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.