Tuesday, September 13, 2022
Des Moines, IA – September 13, 2022 – BHE Renewables, a Berkshire Hathaway Energy business, is excited to announce it is purchasing more than 2,000 acres of land in Ravenswood, West Virginia, to be developed as a first-of-its-kind renewable energy microgrid-powered industrial site. Precision Castparts Corp. (“PCC”), a Berkshire Hathaway Inc. business, will be the first company to locate on the site and will develop a state-of-the-art titanium melt facility that will use 100% renewable energy to manufacture titanium products for the aerospace and other industries. The land is currently owned by the West Virginia Economic Development Authority. BHE Renewables will work with the West Virginia Economic Development Authority to bring additional businesses to the site to benefit from the prime manufacturing location and renewable energy infrastructure.
“This project demonstrates how investing in clean energy can revive economies that have served our country’s energy needs for decades,” said BHE Renewables President and CEO Alicia Knapp. “We are thrilled to partner with PCC and West Virginia to deliver this landmark renewable energy solution, hundreds of jobs and significant economic development.” PCC Metals President Steve Wright added, “Our future facility is an outstanding opportunity to use clean energy as we invest in further strengthening our position as a world leader in titanium metals. Manufacturing our products with 100% renewable energy benefits PCC and our customers as we strive to minimize the impact of our operations and wisely use natural resources.”
The Ravenswood project will serve as the foundation for additional pivotal investments in West Virginia. “This is a monumental announcement that will pay dividends for generations to come,” West Virginia Governor Jim Justice said. “The partnership we are forging with BHE Renewables and PCC is testament to West Virginia’s ability to compete on the world stage and recruit world-class companies like these to our state. I couldn’t be more proud of the fact that West Virginia will help lead the way into a new era of renewable energy microgrid-powered manufacturing. I can never thank BHE Renewables and PCC enough for their commitment to West Virginia and for the jobs and economic ripple effects this partnership will bring.”
State Sen. Glenn Jeffries, who championed the project, said, “Two world-class companies selected West Virginia because we created the best environment for them to do business. That includes being home to a world-class workforce. Something this big doesn’t happen without the ingenuity and work ethic of West Virginians.” West Virginia Secretary of Economic Development Mitch Carmichael agreed, “Our state’s growth-focused economic policies are second to none. West Virginia is investing in smart new ways for businesses to build success around clean energy that’s here to stay.”
About BHE Renewables
BHE Renewables delivers sustainable energy solutions. As a wholly-owned subsidiary of Berkshire Hathaway Energy, BHE Renewables has invested extensively in solar, wind, geothermal and hydro projects nationwide. BHE Renewables produces 5,168 megawatts of clean energy for both the wholesale market and for customers under long-term power purchase agreements.
About Precision Castparts Corp.
PCC is the market leader in manufacturing large, complex structural investment castings, airfoil castings, forged components, aerostructures, and highly engineered, critical fasteners for aerospace applications, and is the leader in the research, development and production of nickel, cobalt and titanium alloys. In addition, the Company is the leading producer of airfoil castings for the industrial gas turbine market. PCC also manufactures extruded seamless pipe, fittings, forgings, and clad products for power generation and oil & gas applications, as well as commercial and military airframe aerostructures. More information is available at precast.com.
This press release contains a number of forward-looking statements. Words such as “purchasing,” “developing,” “create,” “opportunities, “include.” “Co-locating,” “facilitate,” “construction,” “investment,” “create,” “approximately,” “installing,” “utilizing,” “serve” “additional” “potentially,” “revive,” “deliver,” “partner,” ongoing,” “will” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These statements are not historical facts and are based on BHE Renewables’ current beliefs, expectations, estimates, and projections. These forward-looking statements are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond BHE Renewables’ control, which could cause actual results to differ materially from those indicated in the forward-looking statements. Those factors include, but are not limited to, BHE Renewables’ ability to achieve the intended benefits of the agreement and the risk factors set forth in BHE Renewables’ filings and agreements. BHE Renewables disclaims and does not undertake any obligation to update, revise, or withdraw any forward-looking statement in this press release, except as required by applicable law or regulation.