Sustainable Business News (SBIZ)
c/o Squall Inc.
P.O. Box 1484, Stn. B
Ottawa, Ontario, K1P 5P6
Canada: 1-855-569-6300

Clean energy materials co. Targray expands HQ, ramps up sustainability

Doubling of headquarters to 40,000 square feet comes with solar roof, EV chargers, energy efficiency

A view of the expanded Targray headquarters, featuring glass that traps heat, an energy-efficient HVAC system and a solar roof. (Courtesy Targray)

Commodities and clean energy materials distributor Targray is using its headquarters expansion in Kirkland, Que. to signal its continuing commitment to sustainability.

Targray has doubled its main office to approximately 40,000 square feet, and added a solar roof, motion-detecting light fixtures, a glazed curtain wall of glass that traps heat, electric vehicle chargers and an energy-efficient HVAC system.

Initially founded as a distributor of optical media in the late 80s, Targray soon transitioned into trading battery and solar energy materials and carbon credits, according to Mina De Oliveira, Targray’s chief operating officer. Today, the company also handles logistics for renewable fuel feedstocks and sustainable cotton via ship and rail.

“The founder always had that vision of running a sustainable business . . . it really evolved into getting into the biofuels business before it was mainstream,” she said in an interview with Sustainable Biz Canada.

Playing a role in the renewable energy and fuels supply chain, Targray sees itself “in the business of helping customers go through their energy transition,” according to De Oliveira.

Targray operates in 10 countries around the world, and made over $1 billion in revenue in 2022, according to its latest sustainability report.

Targray’s HQ expansion

The solar array on the roof of the headquarters, nearing completion, will consist of 250 panels which generate 450 watts each, totalling over 100 kilowatts of back-up power.

De Oliveira said Targray is in talks with Hydro-Quebec to potentially sell the energy generated from the roof to the utility. But there is an asterisk on the opportunity as Hydro-Quebec does not yet have the ability to accept power from an outside solar energy generator.

Energy use is optimized with features like light fixtures that detect motion, an energy-efficient HVAC system and low-emissivity glass panels that prevent heat from easily escaping to reduce heat loss. Water is saved using low-flow washroom plumbing fixtures and accessories.

Three electric vehicle charging stations are available to all employees free of charge.

The expansion, made to accommodate 70 more employees, was started in 2022 and largely finished by late 2023 to early 2024, the COO explained.

As the expansion is newly complete and Targray is still collecting more data, De Oliveira said figures on how much it would improve on sustainability aspects compared to its pre-expansion were unavailable. A baseline is expected to be made by the end of 2024, she added.

Being a sustainable supply chain player

Targray is still early in its sustainability reporting journey, only publicizing its greenhouse gas emissions baseline in its 2022 Sustainability Report.

De Oliveira noted the company does not yet have climate targets set, as it is a trader and distributor, emitting a relatively low amount of greenhouse gas emissions as a result. For example, in 2022, its Scope 1 emissions were 10 tonnes of carbon dioxide equivalent (tCO2e), and 82 tCO2e for Scope 2 emissions.

A brief foray into the fossil fuel trading sector was made in 2019 so Targray would understand the change that will take place in pipelines and railcars to “move into a more mainstream transition,” De Oliveira said.

As a result, its Scope 3 emissions dramatically ballooned to 1.9 million tCO2e. But the company divested from fossil fuels in 2022 to focus on the energy transition and renewable fuels.

The company expects to see its overall greenhouse gas emissions slashed by approximately three-fourths after exiting the fossil fuel industry.

Targray works to make a cleaner supply chain by considering factors like the fuel efficiency of the ships it contracts to transport goods by sea for bulk shipments. For container shipments, Targray is in talks with companies such as Maersk, CMA CGM and Costco to take green corridors.

For Targray’s part, it seeks to engage its suppliers and supply chain partners on matters such as forced labour, ethical treatment of employees and environmental stewardship.

To support companies in the energy transition, De Oliveira said there needs to be the “right environment with the government in terms of incentives and subsidies that will provide the needed economics for customers to move down the line on the energy transition.” Canada’s Clean Fuels Regulation is headed in the right direction, she added.

Industry Events