Targray

Last updated

Targray
Type Private
Industry Renewable Energy
FoundedJuly 1987;35 years ago (1987-07)
Beaconsfield, Quebec, Canada
FounderThomas A. Richardson
Headquarters
Area served
Worldwide
ProductsAgricultural Commodities, Environmental Commodities, Biofuels, Battery Materials, Solar Materials, Optical Disc Materials.
RevenueIncrease2.svg CAD$ 1.12 billion (2021) [1]
Website Targray.com

Targray Technology International Inc., commonly referred to as Targray, is a Canadian multinational materials distributor headquartered in Kirkland, Quebec that provides commodities and distribution of pulses, biofuel, cotton, carbon trading, lithium-ion battery, energy storage, and solar photovoltaics. [2]

Contents

Targray was established in 1987 in Beaconsfield, Quebec by metallurgical engineer Thomas A. Richardson to supply manufacturing materials and consumables for the compact disc manufacturing industry. As of 2019, the company operated sales offices, warehouses and fuel terminals in Canada, the United States, the Czech Republic, the United Arab Emirates, Belgium, Switzerland, China, Hong Kong, Taiwan and India. [3]

Industries

Biofuels – Biodiesel

Targray Headquarters in Kirkland, Quebec, Canada. Targray World Headquarters.png
Targray Headquarters in Kirkland, Quebec, Canada.

Targray's Biofuels Division markets and trades bio-based fuels, primarily biodiesel, to local markets in the United States and Europe. [4] The company is accredited by the National Biodiesel Board as a BQ-9000 Biodiesel Marketer, and is a registered supplier with the United States Environmental Protection Agency (EPA) and the California Air Resources Board (CARB). [5]

In 2014, Targray opened an inventory location for its biodiesel supply in Bakersfield, California. [6] It has since added fuel terminal locations in Stockton, Fresno and Los Angeles, California, as well as in Cincinnati, Chicago, Tampa and New Orleans. [7]

In February 2018, the California Air Resources Board published an executive order certifying Targray's Biodiesel additive, CATANOX, as an emissions equivalent additive under Appendix 1 of the ADF regulation, which governs the introduction and use of innovative alternative diesel fuels in California. [8] The ADF regulation includes specific provisions designed to control potential increases in oxides of nitrogen (NOx) emissions that could otherwise be caused by the use of biodiesel under certain circumstances.

In February 2019, Targray announced the establishment of a European biodiesel trading desk in Geneva, Switzerland. [9]

Agricultural Commodities

Targray operates a pulses trading desk which engages in the sourcing, storage, trade and distribution of chickpeas, beans, lentils, peas, and other legumes. [10] The company also participates in the wholesale distribution of cotton, sourced primarily from Benin, Mali, Burkina Faso, Ivory Coast, Brazil, Argentina, Australia and India. [11]

Environmental Commodities

Targray's environmental commodities business supplies carbon credits, carbon offsets and renewable energy certificates for compliance and voluntary carbon markets. [12] Its trading activities are managed on accredited carbon directories including Gold Standard and Verra.

Lithium-ion Batteries

Targray's Battery Division supplies advanced materials and electronic components used in the manufacturing of lithium-ion batteries. Notable products distributed by the Battery Division include anode materials, battery-grade lithium hydroxide, cathode materials, coated electrodes, separators, supercapacitors, current collectors, electrolyte, and packaging materials. [13]

Solar – Photovoltaics

In 2005, Targray launched its Solar Division, which supplies raw materials, electronics, and supply chain solutions[ buzzword ] for the international solar photovoltaics industry. As of 2016, the company was one of the largest global suppliers of solar wafers, and polysilicon, a component used in the manufacturing of solar cells and semiconductor wafers. [14]

In April 2017, Targray announced that it had begun supplying junction boxes for photovoltaics manufacturing. [15]

History

1989-2004: Early History

Targray was legally incorporated in 1989 under the name Targray Technology International Inc. The company's first recorded sales were clean-room gloves sold to Americ Disc in Drummondville, Quebec. By 1995, Targray's selection of optical media products had grown to include a complete line of sputtering targets for all optical disc formats. Beginning in 1998, Targray underwent a series of expansions to accommodate its growing optical media business and workforce, and by 2004 the company had opened 5 international sales offices, located in Dordrecht, Laguna Niguel, Taipei, Panenské Břežany, and New Delhi. [16]

2005-present: Expansion and Diversification

Targray Biofuels Division railcar transporting Biodiesel. Targray Biodiesel Railcar.png
Targray Biofuels Division railcar transporting Biodiesel.

In 2005, Targray adopted a diversification strategy focused on high-growth industries, beginning with solar photovoltaics. The strategy led to an increase in sales for the company, and in 2006 it was ranked the ninth fastest-growing company in the province of Quebec for the previous five–year period by Canadian French-language magazine L'actualité. [17] In 2008, Targray's solar products had surpassed its optical media line in total sales, and the company was included in Profit Magazine's list of fastest growing companies in Canada. [18] In 2009, Targray's annual revenues exceeded US$250 million per year. [19]

In 2010 and 2012, Targray established two new business divisions, created to supply lithium-ion battery materials and bio-based fuels, respectively. Shortly thereafter, the company began marketing biodiesel blends from its terminal location in California. [20] In October 2016, professional services firm Ernst & Young named Targray President Andrew Richardson the winner of the 2016 Quebec Ernst & Young Entrepreneur of the Year Award. [21]

In June 2022, Financial Post ranked Targray No. 297 on the FP500, an annual listing of the largest corporations in Canada by revenue. [1]

Related Research Articles

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Energy storage is the capture of energy produced at one time for use at a later time to reduce imbalances between energy demand and energy production. A device that stores energy is generally called an accumulator or battery. Energy comes in multiple forms including radiation, chemical, gravitational potential, electrical potential, electricity, elevated temperature, latent heat and kinetic. Energy storage involves converting energy from forms that are difficult to store to more conveniently or economically storable forms.

<span class="mw-page-title-main">Renewable energy</span> Energy that is collected from renewable resources

Renewable energy is energy that is collected from renewable resources that are naturally replenished on a human timescale. It includes sources such as sunlight, wind, the movement of water, and geothermal heat. Although most renewable energy sources are sustainable, some are not. For example, some biomass sources are considered unsustainable at current rates of exploitation. Renewable energy often provides energy for electricity generation to a grid, air and water heating/cooling, and stand-alone power systems. Renewable energy technology projects are typically large-scale, but they are also suited to rural and remote areas and developing countries, where energy is often crucial in human development. Renewable energy is often deployed together with further electrification, which has several benefits: electricity can move heat or objects efficiently, and is clean at the point of consumption. In addition, electrification with renewable energy is more efficient and therefore leads to significant reductions in primary energy requirements.

<span class="mw-page-title-main">Biofuel</span> Type of biological fuel produced from biomass from which energy is derived

Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. Biofuel can be produced from plants or from agricultural, domestic or industrial biowaste. The climate change mitigation potential of biofuel varies considerably, from emission levels comparable to fossil fuels in some scenarios to negative emissions in others. Biofuels are mostly used for transportation, but can also be used for heating and electricity. Biofuels are regarded as a renewable energy source.

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<span class="mw-page-title-main">Zero-emissions vehicle</span> Class of motor vehicle

A zero-emission vehicle, or ZEV, is a vehicle that does not emit exhaust gas or other pollutants from the onboard source of power. The California definition also adds that this includes under any and all possible operational modes and conditions. This is because under cold-start conditions for example, internal combustion engines tend to produce the maximum amount of pollutants. In a number of countries and states, transport is cited as the main source of greenhouse gases (GHG) and other pollutants. The desire to reduce this is thus politically strong.

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<span class="mw-page-title-main">Alternative fuel vehicle</span> Type of vehicle

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Biofuel is fuel that is produced from organic matter (biomass), including plant materials and animal waste. It is considered a renewable source of energy that can assist in reducing carbon emissions. The two main types of biofuel currently being produced in Australia are biodiesel and bioethanol, used as replacements for diesel and petrol (gasoline) respectively. As of 2017 Australia is a relatively small producer of biofuels, accounting for 0.2% of world bioethanol production and 0.1% of world biodiesel production.

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<span class="mw-page-title-main">Renewable energy in Canada</span> Use of renewable resources in Canada

As of 2019, renewable energy technologies provide about 17.3% of Canada's total primary energy supply. For electricity renewables provide 67%, with 15% from nuclear and 18% from hydrocarbons.

<span class="mw-page-title-main">Low-carbon fuel standard</span> Rule to reduce carbon intensity of transportation fuels

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References

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  7. "Targray Biofuels - Biodiesel Locations". Targray.com. August 22, 2016.
  8. "Executive Order G-714-ADF04 Certification of Alternative Diesel Fuel Resulting in Emissions Equivalence with Diesel" (PDF). State of California Air Resources Board. Retrieved June 28, 2018.
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  10. "Commodities Company Targray Opens International Pulses Trading Desk". Cision. June 23, 2021.
  11. "Cotton Supply Solutions". Targray Technology International Inc. December 9, 2022.
  12. "Targray launches environmental commodities trading desk". DC Thomson. November 29, 2022.
  13. "Targray Battery". Targray Technology International Inc. June 19, 2019.
  14. "Canadian Company Capabilities". Government of Canada. April 12, 2016.
  15. "Targray Launches Solar Junction Box Product Line for Photovoltaics Manufacturers". Renewable Energy World. April 3, 2017.
  16. "Our History". Targray Technology International Inc. April 12, 2016.
  17. "Les leaders de la croissance: Que sont-elles devenues?". L'actualité. May 31, 2007.
  18. "Problem Solvers to Boldly Grow, Carefully That Is". Profit Guide. May 31, 2009.
  19. "Targray: Quincaillerie de la Haute Technologie". La Presse. August 31, 2009.
  20. "Targray Begins Marketing Biodiesel from California Terminal". Downstream Business. March 4, 2014.
  21. "Gilbert Rozon of Just for Laughs named EY Entrepreneur Of The Year™ Québec 2016". CNW. October 21, 2016.