Potential offtaker

Nomad Foods Ltd.d

www.nomadfoods.com

Estimated electricity consumption

N/A

Countries of production presence

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Nomad Foods Ltd. is a leading frozen food company based in the United Kingdom. The company is listed on the London Stock Exchange and has a market capitalization of over £3 billion. Nomad Foods operates in the frozen food sector and is known for its high-quality frozen food products that are available in supermarkets and other retail outlets across Europe.

Nomad Foods has a strong commitment to sustainability and decarbonisation. The company recognizes the importance of reducing its carbon footprint and has set ambitious targets to achieve this. Nomad Foods has committed to reducing its greenhouse gas emissions by 30% by 2025 compared to its 2018 baseline. This target is in line with the Paris Agreement's goal of limiting global warming to below 2 degrees Celsius.

To achieve its decarbonisation goals, Nomad Foods is investing in renewable energy and corporate energy initiatives. The company has installed solar panels at its factories and warehouses, which generate clean energy and reduce its reliance on fossil fuels. Nomad Foods is also exploring the use of other renewable energy sources such as wind and biomass.

In addition to investing in renewable energy, Nomad Foods is also implementing corporate power purchase agreements (PPAs). A corporate PPA is a long-term contract between a company and a renewable energy provider, which guarantees the purchase of a set amount of clean energy at a fixed price. By entering into a corporate PPA, Nomad Foods is able to secure a reliable and cost-effective source of renewable energy, while also supporting the growth of the renewable energy sector.

Nomad Foods is committed to reducing its carbon footprint not only through its own operations but also through its supply chain. The company works closely with its suppliers to ensure that they are also adopting sustainable practices and reducing their environmental impact. Nomad Foods has set a target to reduce the carbon emissions of its suppliers by 50% by 2030 compared to their 2018 baseline.

Nomad Foods is also committed to reducing food waste. The company has implemented a number of initiatives to reduce food waste across its operations, including optimizing its production processes, improving its supply chain management, and donating surplus food to local charities and food banks.

In addition to its sustainability initiatives, Nomad Foods is also focused on innovation and product development. The company has a strong portfolio of frozen food brands, including Birds Eye, Findus, and Iglo, and is constantly looking for ways to improve and expand its product offerings. Nomad Foods has recently launched a range of plant-based products under its Birds Eye brand, which has been well received by consumers.

Nomad Foods has a strong financial performance and has delivered consistent growth in revenue and earnings over the past few years. The company's revenue in 2020 was €2.8 billion, up from €2.6 billion in 2019. Nomad Foods' net income in 2020 was €214 million, up from €197 million in 2019.

In conclusion, Nomad Foods Ltd. is a leading frozen food company based in the United Kingdom that is committed to sustainability and decarbonisation. The company is investing in renewable energy, implementing corporate PPAs, and working with its suppliers to reduce their environmental impact. Nomad Foods is also focused on innovation and product development, and has a strong portfolio of frozen food brands. With its strong financial performance and commitment to sustainability, Nomad Foods is well positioned for future growth and success.

✓ Science Based Targets member
✓ Declared Net Zero commitment