BOVIET SOLAR PUBLISH ITS FIRST CORPORATE ENVIROMENTAL, SOCIAL, AND GOVERNANCE REPORT

San José, California USA, August 11, 2023— Boviet Solar Technology Co. Ltd. (the “Company” or “Boviet Solar”), a leading solar energy technology company specializing in manufacturing Monocrystalline PV cells, Gamma Series™ Monofacial, and Vega Series™ Bifacial PV Modules, today announced the release of its 2022 Sustainability Report, which highlights the company’s first social, environmental, and governance activities and strategies.

Environmental, social, and corporate governance (ESG) is a framework designed to be embedded into a company’s organizational strategy. It considers the needs and ways in which to generate value for all organizational stakeholders such as employees, customers, the community, and suppliers.

Boviet Solar is establishing an “ESG Committee” under its Board of Directors, led by the chairman of the Boway Group. The main tasks of the Committee will be to analyze domestic and international economic, environmental, and industrial factors; formulate an ESG strategy; identify ESG-related risks; assess ESG performance; and supervise the implementation of the ESG strategy.

2022 report highlights:

Environmental:

• In 2022, Boviet Solar achieved year-over-year electricity savings of 4.71%, and 11.79% for its cell and module manufacturing operations, respectively, which translates to a combined total of about 79 GWh of absolute electricity savings in 2022.
• The company also reduced its water usage by 42% between 2021 and 2022, mainly driven by the incremental deployment of new large 182-mm solar cell operations.

Social:

• Boviet Solar promotes equity, diversity, and inclusion, as it believes a diverse workforce is the driver of creativity and innovation and is critical to its long-term success.
• During 2022, Boviet Solar had approximately 1,000 employees in Vietnam, with women accounting for 52.69% of the total workforce and increasingly taking on key roles and responsibilities. Boviet aims to increase the percentage of women in middle management to 12.58% by 2026.
• In 2018, Boviet implemented the ISO 45001 occupational health and safety management system (formerly OHS 18001) and environmental management system ISO 14001. Both cover chemical and operating equipment safety management to ensure that hazards in the workplace are systematically identified and evaluated and that relevant control measures are established.
• Boviet is committed to incorporating environmental and social factors into its supplier management. Boviet has been developing a sustainable supply chain to ensure continuity through a series of strategies including supplier access policies, the sustainable management of suppliers, the development of a green supply chain, and improving supply capabilities.

Governance:

• Boviet Solar is committed to sound management and promotes a just, responsible, effective, and inclusive corporate governance system.
• The Annual General Meeting operates by the provisions of the Company Law, the Articles of Association, and the Rules of Procedure of the Annual General Meeting, and the convening, proposal, attendance, proceedings, voting, resolutions, and minutes of the successive general meetings of shareholders following the relevant laws and regulations and the Articles of Association and the Rules of Procedure of the Annual General Meeting.
• In addition to the Code of Ethics, Boviet Solar follows policies and practices in other areas including anti-bribery/corruption, environmental protection, export controls, financial reporting processes/internal controls, insider trading, intellectual property protection, personal data protection, document data retention and destruction, etc.

“We are proud to release our company’s social, environmental, and corporate governance activities,” Mr. Jimmy Xie, General Manager, Boviet Solar, said. “Our mission emphasizes that Boviet Solar values more than profits. Sustainable growth can only happen if we are part of the solution and work together to make the Earth a better place.”

Boviet Solar has been a Bloomberg New Energy Finance Tier 1 PV Module Manufacturer since 2017. The company offers financial and business stability, technology expertise, manufacturing excellence, top-performing PV modules and supply chain transparency. Boviet Solar’s PV modules are known for their power, performance and quality and have been rated as top performers on PVEL’s PV Module Reliability Scorecard since 2019.

About Boviet Solar

Founded in 2013 in Vietnam, Boviet Solar, a subsidiary company of Boway Alloy, is a Tier 1 solar technology company that specializes in the manufacturing of Monocrystalline PV cells and Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules, as well as solar project development. The company works with IPPs, EPCs, project developers, solar installers, and contractors to deliver top-performing PV modules for utility-scale, commercial, industrial, and residential solar projects. As of 2023, Boviet Solar’s annual PV cell and PV module manufacturing capacity is 2.5 GW and it has shipped a total of 4.4 GW since 2013, mainly to the U.S. market.

The company offers financial stability, technological know-how, manufacturing excellence, and supply chain transparency. With a proven track record of successfully working with many of the industry’s leading players, Boviet Solar has maintained its position as a BloombergNEF Tier 1 solar module manufacturer and supplier since 2017. Boviet Solar’s PV Modules are known for their power, performance, and quality and have been rated as top performers on PVEL’s PV Module Reliability Scorecard since 2019. Black & Veatch successfully completed an independent audit of Boviet Solar’s manufacturing facilities in 2022. Boviet Solar has offices in the United States, Germany, and China, with its global headquarters in Vietnam. For more information about our company and products, please visit www.bovietsolar.com.

CONTACT:
Songül Atacan
Director of Global Marketing
Boviet Solar
songul.atacan@bovietsolar.com