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Net Zero status differentiates the Company as a key partner in the responsible energy production of its global customer base
HEATH, Texas, Feb. 7, 2022 /PRNewswire/ -- Impact Selector International, LLC ("ISI" or the "Company"), a provider of technologically-advanced downhole conveyance products and related services to customers in the oil, gas and geothermal markets, is pleased to announce that it has achieved its goal of "Net Zero Emissions" for the Company's global operations in 2021 on a combined Scope 1, 2 and 3 basis. In addition, analysis of the environmental attributes of its products and services confirms ISI is further contributing to its customers' sustainable operations in the form of significant additional "avoided emissions" (CO2evoidance™) across their global business activity.
In conjunction with publication of the ISI 2021 Sustainability Report, the Company is also expanding its Sustainability Strategy, which will build upon the progress made to date and encompass additional environmental, social and governance ("ESG") priorities.
David Lane, ISI's Chief Executive Officer, commented: "As a company whose founding more than three decades ago was anchored around risk reduction and safety improvements for our customers' activity, it has been a natural evolution for ISI to enhance our path of corporate responsibility by embedding ESG Principles into our culture, and to partner with our customers, vendors and local communities to help advance their own sustainable initiatives. The ISI culture is built upon an organization championing diversity and inclusion with transparency and ethics in governance. At the heart of our Company is strategic innovation. We take pride in our investments in research, design and engineering that focus on delivering products that lower cost, reduce risk, increase safety and importantly, reduce carbon emissions and CO2evoidance™ for our customers. With the support of our talented team of technicians, engineers, and support staff, as well as our senior leadership and our Board of Directors, we will continue to drive innovation while delivering a positive impact on the environment and in the communities we share."
Since the Company was founded in 1991, ISI has focused on developing proprietary and intelligent downhole tools that improve safety, increase efficiency, capture downhole data, and reduce the risk of lost or damaged assets and non-productive time during reservoir evaluation, completion, well maintenance and end-of-life well intervention.
"We are excited to publish our first Sustainability Report and to expand ISI's Sustainability Strategy," August Scherer, ISI's Chief Financial Officer, added. "In addition to ISI's asset-light operating model which supports a low emissions footprint, ISI's downhole product portfolio affords customers with the significant opportunity to safely reduce operational hours and equipment mobilization, which in turn, results in lower combustion levels and reduced fugitive greenhouse gas emissions. ISI embraces the opportunity to deliver unique technical solutions which lower our customers' total cost of asset ownership, while also improving our collective environmental impact.
Core pillars of ISI's Sustainability Strategy:
Environmental Sustainability: Utilizing the GHG Protocol and the Environmental Protection Agency's framework for greenhouse gas inventories, ISI has established a carbon emissions goal of maintaining Net Zero across Scope 1, Scope 2 and Scope 3 emissions classes for the fiscal 2021 period and beyond. To accomplish this, ISI is focusing on: (i) investing in energy-efficient technologies across its vehicles and facilities; (ii) reducing emissions from employee commuting, business travel, and freight; (iii) promoting customer and vendor accountability and transparency; and (iv) investing in carbon sequestration and offset projects that reduce greenhouse gasses in regions where ISI operates.
Social Involvement: ISI is passionate about its positive societal contribution, health and safety programs, and the development of future leaders with a focus on equality, diversity and inclusion. ISI will continue to remain culturally responsive and engage in community service by partnering with local organizations to generate social value through positive investments, organized volunteer work and charitable donations.
Governance: ISI has established a Global ESG Committee to maintain transparency, business ethics, and diversity amongst all stakeholders with accountability and measurement of the Sustainability Strategy and the Company's practices and policies. Further, ISI is adopting key performance metrics tied directly to achievement of its ESG goals and objectives as part of overall compensation programs, supported by accountable leaders, business ethics, diversity throughout the organization, and promoting advocacy and audit of the Company's targets and metrics. Through routine reporting, ISI will track its ESG performance consistent with many of the industry-leading ESG metrics and benchmarks.
Economic Value: ISI's products and services are critically important to its customers' sustainable operations, and the global demand for increased access to affordable, clean energy amidst the energy transition. In order to expand its ability to positively impact its internal and external constituents, ISI will remain committed to delivering operational, financial and environmental stakeholder value. The Company will regularly evaluate opportunities to achieve innovation, growth and further business scale, and also employ a model of continuous organizational improvement across all facets of its business.
Todd Tomlin, Chairman of the Board and a Partner with Turnbridge Capital, ISI's largest shareholder, commented: "Turnbridge is very proud of its partnership with Impact Selector, and excited about the public announcement of its Net Zero achievement. The Company's proprietary and intelligent conveyance solutions reduce risk, improve recoveries, and lower emissions associated with the commodity extraction of our customers, which is becoming increasingly important for a global economy dependent on expanded energy supply yet seeking reduced climate impact. ISI is operating in a manner, and obtaining results for its customers, that align with Turnbridge's core principles of responsible investing."
For more information on ISI's Sustainability Strategy, please visit www.impactselector.com/ESG
About Impact Selector International
Impact Selector International designs, manufactures and deploys innovative downhole tools used in oil, gas and geothermal wells globally. The Company's proprietary technology portfolio spans the well lifecycle including open hole logging, cement evaluation, pump down, perforating, wellbore intervention, tractor assist, P&A and more. ISI's Intelligent Conveyance® technologies mitigate risk, eliminate nonproductive time, reduce costs, improve safety, avoid emissions and capture real time downhole data for improved accuracy and decision making. Headquartered in Heath, TX, the Company serves a global customer base with operational bases in Heath & Houston, TX; Houma, LA; Aberdeen, Scotland; Stavanger, Norway; Dubai, UAE; Cairo, Egypt; Kuala Lumpur, Malaysia; Jakarta, Indonesia; and Perth, Australia. For more information on ISI, please visit www.impactselector.com.
About Turnbridge Capital
Turnbridge Capital is a private equity firm targeting investments in service providers and equipment manufacturers that provide value-added solutions to global participants in the energy, infrastructure and industrial end markets. For more information on Turnbridge, please visit www.turnbridgecapital.com.
