MVB Financial Corp. (“MVBF,” “MVB Financial” or “MVB”) (Nasdaq:
MVBF) has announced the successful completion of its plan to
achieve Carbon Neutral status.
“As trusted partners on the financial frontier and stewards for
our environment, MVB initiated several projects in 2021 related to
data collection, energy efficiency and ultimately reducing our
carbon footprint. One of MVB’s core values is Respect, Love and
Caring, which we call RLC, and this work directly ties into living
that value,” said Don Robinson, President and Chief Financial
Officer for MVB Financial.
To better understand its overall environmental impact, MVB
launched its first Environmental Emissions Study in 3Q 2021 for all
MVB business and banking center locations in partnership with
Boston-based sustainability company, GreenFeet. The mission of
GreenFeet is to help reduce the world’s carbon footprint by
providing an easy to use and accessible solution for companies of
all sizes to quickly and painlessly manage and ultimately reduce
their emissions in line with international agreements and
targets.
Utilizing the GreenFeet platform and support from their
knowledgeable staff, MVB gathered emissions data from a variety of
categories such as Team Member commuting, air travel, real estate
and shipping. GreenFeet used information from 2020 and 2021 to
populate MVB’s Emissions Report. MVB is actively managing routine
data updates to measure emissions over time to meet future
sustainability goals.
Supporting local business and the environment, MVB also entered
into an agreement with Parthian Battery Solutions, a West
Virginia-based business, to install solar panels with Parthian’s
batteries at four MVB banking center locations in North Central
West Virginia.
“Renewable energy and electric vehicle technologies are
relatively new and growing rapidly. In regard to electric vehicles,
we determine whether their retired batteries are capable of being
reused and repurpose them in second-use applications with renewable
energy sources. This ensures the most amount of value is extracted
from the batteries, while simultaneously minimizing their
environmental impact,” said August Chico, Founder and CEO of
Parthian Battery Solutions.
“When the battery is taken from the car, it can still maintain
upwards of 85% of its original capacity, which makes it perfect for
reuse applications. Our method prevents hundreds of pounds of
battery material from being prematurely wasted in a landfill. We
provide a more environmental and economically sustainable option
for auto makers to terminate their battery packs. Additionally, the
low costs of our battery hardware enable renewable energy to be
more accessible.”
The first MVB solar panel installation took place in March 2021
in Morgantown at MVB’s Sabraton location, and the project has
expanded to three of MVB’s other banking center locations – two in
Fairmont and one in Bridgeport – with the result that 100% of
banking centers owned by MVB will be utilizing a form of renewable
energy. In addition, MVB has reduced the number of its physical
office locations to support the reduction of its carbon
footprint.
For more information about GreenFeet, visit
https://greenfeet.com/. For more information about Parthian Battery
Solutions, visit https://www.parthianwv.com/.
About MVB Financial Corp.
MVB Financial Corp., the holding company of MVB Bank, Inc., is
publicly traded on The Nasdaq Capital Market® under the ticker
“MVBF.” Nasdaq is a leading global provider of trading, clearing,
exchange technology, listing, information and public company
services. Through its subsidiary, MVB Bank, Inc., and the Bank’s
subsidiaries, the Company provides financial services to
individuals and corporate clients in the Mid-Atlantic region and
beyond. For more information about MVB, please visit
http://ir.mvbbanking.com.
Forward-Looking Statements
MVB Financial Corp. has made forward-looking statements, within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, in this release that are intended to be covered by the
protections provided under the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are based on current
expectations about the future and subject to risks and
uncertainties. Forward-looking statements include, without
limitation, information concerning possible or assumed future
results of operations of the Company and its subsidiaries.
Forward-looking statements can be identified by the use of words
such as “may,” “could,” “should,”, “would,” “will,” “plans,”
“believes,” “estimates,” “expects,” “anticipates,” “intends,”
“continues,” or the negative of those terms or similar expressions.
Note that many factors could affect the future financial results of
the Company and its subsidiaries, both individually and
collectively, and could cause those results to differ materially
from those expressed in forward-looking statements. Therefore,
undue reliance should not be placed upon any forward-looking
statements. Those factors include but are not limited to: market,
economic, operational, liquidity, and credit risk; changes in
market interest rates; inability to achieve anticipated synergies
and successfully integrate recent mergers and acquisitions;
inability to successfully execute business plans, including
strategies related to investments in financial technology
companies; competition; length and severity of the COVID-19
pandemic and its impact on the Company’s business and financial
condition; changes in economic, business, and political conditions;
changes in demand for loan products and deposit flow; operational
risks and risk management failures; and government regulation and
supervision. Additional factors that may cause actual results to
differ materially from those described in the forward-looking
statements can be found in the Company’s Annual Report on Form 10-K
for the year ended December 31, 2021, as well as its other filings
with the SEC, which are available on the SEC’s website at
www.sec.gov. Except as required by law, the Company disclaims any
obligation to update, revise, or correct any forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220614006008/en/
MEDIA CONTACT Amy Baker VP, Corporate
Communications and Marketing MVB Bank
abaker@mvbbanking.com (844) 682-2265
INVESTOR RELATIONS Marcie Lipscomb
mlipscomb@mvbbanking.com (844) 682-2265
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