The U.S. Environmental Protection Agency Recognizes Valvoline Inc. Among Nation's Leading Green Power Users

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Jul 08, 2024, 07:30 ET

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.

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SOURCE Valvoline Inc.