IQE
plc
Reach
Cardiff, UK
9 January 2025
IQE announces SBTi approval
of emission reduction targets
· Approved targets in alignment with the Science Based Targets
initiative
· IQE on
path to achieve Net Zero across operations by 2050
IQE plc (AIM: IQE, "IQE" or
the "Group"), the leading global supplier
of compound semiconductor wafer products and advanced material
solutions, is pleased to announce the
Science Based Targets initiative ("SBTi") has approved IQE's near
and long-term science-based emissions reduction targets.
The SBTi defines and promotes best
practice in emissions reductions and Net Zero targets in line with
climate science. In June 2022 IQE announced its SBTi participation
and a formal commitment to achieving Net Zero across its operations
by 2050.
As part of this process, IQE was
required to formulate science-based targets to reduce greenhouse
gas emissions in line with the SBTi Net Zero Standard, which seeks
to limit global warming to 1.5°C. The SBTi's Target Validation Team
has classified IQE's near and long-term targets as in line with
this ambition and has also verified IQE's mitigation pathways for
reaching Net Zero by 2050 or sooner.
Jutta Meier, Interim Chief Executive Officer of IQE,
commented:
"I
am proud IQE's Net Zero targets have been validated by the SBTi. We
have achieved the most ambitious designation available through the
SBTi process, in recognition of the importance of achieving rapid
and deep global greenhouse emissions cuts."
Contacts:
IQE
plc
+44 (0) 29 2083 9400
Mark Cubitt
Jutta Meier
Amy Barlow
Headland Consultancy (Financial PR)
+ 44 (0) 20
38054822
Andy Rivett-Carnac: +44 (0) 7968 997
365
Chloe Francklin: +44 (0)78 3497
4624
ABOUT IQE
http://iqep.com
IQE is the leading global supplier
of advanced compound semiconductor wafers and materials solutions
that enable a diverse range of applications across:
·
Smart Connected Devices
·
Communications Infrastructure
·
Automotive and Industrial
·
Aerospace and Security
As a scaled global epitaxy wafer
manufacturer, IQE is uniquely positioned in this market which has
high barriers to entry. IQE supplies the global market and is
enabling customers to innovate at chip and OEM level. By leveraging
the Group's intellectual property portfolio including know-how and
patents, it produces epitaxy wafers of superior quality, yield and
unit economics.
IQE is headquartered in Cardiff UK, with employees across
manufacturing locations in the UK, US and Taiwan, and is listed on
the AIM Stock Exchange in London.