CANASTOTA, N.Y. — National Grid (NYSE: NGG) says International Wire used energy-efficiency incentives that the energy company provided to help pay for new equipment at its Canastota plant while saving money in the long run on its energy costs. International Wire replaced a 25-year-old multiwire drawing machine at the plant with a new generation of […]
CANASTOTA, N.Y. — National Grid (NYSE: NGG) says International Wire used energy-efficiency incentives that the energy company provided to help pay for new equipment at its Canastota plant while saving money in the long run on its energy costs.
International Wire replaced a 25-year-old multiwire drawing machine at the plant with a new generation of equipment that pulls wire quicker using less electricity, National Grid said. The equipment upgrade represents a reduction of nearly 4.2 million kilowatt-hours (kWh) per year, creating savings of $166,600 annually.
The new machinery is also cleaner to operate, eliminating an additional 4.58 million pounds of carbon-dioxide emissions, the utility said.
“Increasing productivity for a manufacturer leads to an increased bottom line,” Alberto Bianchetti, regional director of customer and community engagement at National Grid, said in the announcement. “Incentives from National Grid, such as the one provided here to Owl Wire and Cable, strengthen local businesses while lowering their operating costs.”
The Canastota facility was founded as Owl Wire and Cable in 1954 and acquired by International Wire in 2019, National Grid noted.
International Wire earned an $821,000 incentive to offset the purchase. Based on the energy saved, the company will recoup its investment in the $2.1 million machine in less than eight years as opposed to nearly 13 years without the incentive.
“Enhancing safety, enabling productivity, and modernizing technology are key to staying competitive in today’s market,” Dave Bass, VP of engineering at International Wire, said in the National Grid announcement. “National Grid’s incentive program supported our investment, allowing us to achieve all these goals while lowering our energy consumption. It’s a win-win for everyone.”
International Wire is a multinational wire-products manufacturer headquartered in Camden. The company, which operates 11 manufacturing plants in Central New York and the Mohawk Valley, specializes in bare copper and tin-plated wire products for the industrial, energy, mass transit, telecommunication, appliance and building markets.
Energy-efficiency programs
National Grid says New York manufacturers can learn more about industrial energy-efficiency programs by contacting an advisor at energysavings@nationalgrid.com or calling (800) 787-1706.
It also offers energy-efficiency programs for the agricultural, education, health care, hospitality, manufacturing, and retail and restaurant industries.
