SAN FRANCISCO, Calif., Feb. 26, 2008 – Wal-Mart Stores, Inc. (NYSE: WMT) and the Cleantech Group announced today the official launch of a Web-based tool to identify technologies that will help Wal-Mart move toward its environmental sustainability goals. The “Cleantech Accelerator Project,” will connect Wal-Mart with the cleantech industry and accelerate the deployment of new technologies that reduce negative ecological impacts while increasing performance and lowering costs.
“The Cleantech Accelerator Project is another example of Wal-Mart’s commitment to being one of the early adopters of technologies that can improve the environment and our business operations,” said Matt Kistler, senior vice president of sustainability at Wal-Mart. “We believe that our partnership with the Cleantech Group will help us tap into a wide source of innovators who can provide us with fresh thinking as we move forward in our journey to become a more sustainable company.”
Wal-Mart and the Cleantech Group established their partnership in October 2007. Since then, the two companies have worked together to identify the initial areas of opportunity for submissions. Through the Cleantech Accelerator Project, Wal-Mart is seeking innovative ideas in the following areas:
• alternative battery technology for forklifts;
• wind harvesting;
• closed-loop water processing;
• sustainable building materials;
• organic waste;
• oil-based waste; and
• household hazardous waste
The Cleantech Group will review and evaluate submissions to determine which ideas might qualify for testing and adoption. For each issue area, the Cleantech Group will provide Wal-Mart with two to four solutions that can be integrated into its business within the next 24 months.
“Cleantech is thrilled to assist Wal-Mart with its sustainability goals. It’s the perfect opportunity to leverage Cleantech’s large pool of global technologies and companies with an organization dedicated to sustainability on such a massive scale,” said Paula Rhodes, managing director for the Cleantech Accelerator Project at the Cleantech Group.
The Cleantech Accelerator Project adds to Wal-Mart’s current cleantech efforts including the development of High Efficiency (HE) stores that are 25 percent more efficient than its typical Supercenters in 2005. The company is equipping all new stores with LED lights and retrofitting more than 500 existing stores with this energy-saving technology. Wal-Mart is also installing solar panels on 22 stores in California and Hawaii that can provide up to 30 percent of the power for those stores. To read more about the Cleantech Accelerator Project please visit http://www.cleantech.com/accelerator/. To learn more about Wal-Mart’s sustainability initiatives please visit www.walmartfacts.com.
About Wal-Mart Stores, Inc. (NYSE: WMT)
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam’s Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. The Company’s securities are listed on the New York Stock Exchange under the symbol WMT.
More information about Wal-Mart can be found by visiting www.walmartfacts.com. Online merchandise sales are available at www.walmart.com.