Corning Incorporated (NYSE: GLW) announced today that it received a 2020 Supplier Award from Groupe Renault (EPA: RNO) at the company’s 15th annual supplier award ceremony. Corning was recognized in the “Best Innovation” category for the company’s latest generation of Corning® FLORA® substrates, a ceramic substrate designed to enhance catalytic converter performance and reduce vehicle emissions at engine start.
In new gasoline vehicles, the majority of regulated emissions occur from “cold starts” – the seconds between engine start and the warming of the catalytic converter when it can effectively begin treating gaseous exhaust emissions. The innovative material microstructure of FLORA substrates significantly reduces the component’s mass, warming more quickly and allowing catalytic activity to start sooner. Altogether, these features contribute to reduced emissions, better fuel efficiency, and optimized system costs from reduced platinum group metals (PGM) catalysts.
“The high-porosity and low thermal energy [of FLORA substrates] allows the reduction of tailpipe emissions at cold start due to faster light-off. …The first [Renault] application will be on our new gasoline engine that will be introduced on the next generation of Kadjar. …We have a long history with Corning and are very happy to reward them today,” said Gilles Le Borgne, EVP Engineering, Groupe Renault, at the Nov. 5 virtual ceremony.
“We at Corning have really enjoyed working closely with Renault’s innovative technical team. We have been a Renault supplier for decades, but this joint product effort created a win-win for both companies, providing Renault with system performance and cost advantages,” said Willard Cutler, division vice president and commercial technology director, Corning Environmental Technologies, who accepted the award. “We look forward to continuing our collaboration with Renault in the years to come.”
From its network of more than 13,000 suppliers, Groupe Renault awarded 15 companies across the five award categories of Design, Quality & Customer Satisfaction, Sustainable Purchasing, Best Innovation, and Best Service to Manufacturing. Awards were presented by members of the Groupe Renault Executive Committee.
Corning has more than 100 years of experience in the automotive industry, helping drive the trend toward cleaner, safer, and more connected vehicles. Building on almost five decades of leadership in clean-air technologies, Corning continually innovates its advanced cellular ceramic substrates and ceramic particulate filters for gasoline and diesel emissions control, helping customers meet new emissions standards and enabling cleaner air worldwide. Corning is also enhancing vehicle exteriors and interiors with technical glass innovations that can enable sophisticated in-vehicle display designs and lightweight, damage-resistant windows.
Forward-Looking and Cautionary Statements
This press release contains “forward-looking statements” (within the meaning of the Private Securities Litigation Reform Act of 1995), which are based on current expectations and assumptions about Corning’s financial results and business operations, that involve substantial risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties include: the duration and severity of the recent COVID-19 (coronavirus) outbreak, and its ultimate impact across our businesses on demand, operations and our global supply chains; the effects of acquisitions, dispositions and other similar transactions by the Company, the effect of global business, financial, economic and political conditions; tariffs and import duties; currency fluctuations between the U.S. dollar and other currencies, primarily the Japanese yen, New Taiwan dollar, euro, Chinese yuan, and South Korean won; product demand and industry capacity; competitive products and pricing; availability and costs of critical components and materials; new product development and commercialization; order activity and demand from major customers; the amount and timing of our cash flows and earnings and other conditions, which may affect our ability to pay our quarterly dividend at the planned level or to repurchase shares at planned levels; possible disruption in commercial activities due to terrorist activity, cyber-attack, armed conflict, political or financial instability, natural disasters, or major health concerns; unanticipated disruption to equipment, facilities, IT systems or operations; effect of regulatory and legal developments; ability to pace capital spending to anticipated levels of customer demand; rate of technology change; ability to enforce patents and protect intellectual property and trade secrets; adverse litigation; product and components performance issues; retention of key personnel; customer ability, most notably in the Display Technologies segment, to maintain profitable operations and obtain financing to fund their ongoing operations and manufacturing expansions and pay their receivables when due; loss of significant customers; changes in tax laws and regulations including the Tax Cuts and Jobs Act of 2017; and the potential impact of legislation, government regulations, and other government action and investigations.
For a complete listing of risks and other factors, please reference the risk factors and forward-looking statements described in our annual reports on Form 10-K and quarterly reports on Form 10-Q. Forward-looking statements speak only as of the day that they are made, and Corning undertakes no obligation to update them in light of new information or future events.
Web Disclosure
In accordance with guidance provided by the SEC regarding the use of company websites and social media channels to disclose material information, Corning Incorporated (“Corning”) wishes to notify investors, media, and other interested parties that it uses its website (http://www.corning.com/worldwide/en/about-us/news-events.html) to publish important information about the company, including information that may be deemed material to investors, or supplemental to information contained in this or other press releases. The list of websites and social media channels that the company uses may be updated on Corning’s media and website from time to time. Corning encourages investors, media, and other interested parties to review the information Corning may publish through its website and social media channels as described above, in addition to the company’s SEC filings, press releases, conference calls, and webcasts.
About Corning Incorporated
Corning (www.corning.com) is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.
