Manufacturing company Toly Products Ltd is investing in sustainable operations as it starts to emerge from the pandemic induced slowdown.
Toly, which has been receiving support from the Maltese government through the Wage Supplement administered by Malta Enterprise, confirmed that it has met its targeted goods sales in April and prospects are looking positive for the second part of the year. It is also planning to invest more than €3 million over the next four years to improve the sustainability of its operations.
Following a visit by Minister for Energy, Enterprise and Sustainable Development Miriam Dalli, the company explained that it has been working on reducing emissions and producing quality products from alternative more environmentally friendly materials.
“Toly is a yet another example of a Maltese company that, through resilience, hard work and determination, can be successful and grow to be a strong competitor on the international market. This is the hard workmanship that we want to continue supporting”, said the minister.
Minister Dalli noted how the investment carried out by the company in sustainable operations helped Toly to grow and diversify.
“There is a definite market demand for recycled materials and recyclable products. Like Toly, I encourage companies to further their commitment by also training and educating their employees, clients, and stakeholders to reflect this new reality”, continued the minister.
The company is targeting improved sustainability through both its processes and products. In addition to investing in the latest technologies, Toly are using geo-thermal concepts to produce cooling water for their machines and moulds. The company has also focused on the processing of waste. Waste heat from chillers is being redirected and used in processes that require heat, while wastewater from the plant’s roofs is being used for cooling.
The investment will see Toly changing the current moulding machines, to semi and fully electric ones over the next four years.
The minister praised the company for its commitment towards sustainable development. In fact, as of 2019, the Toly Group started reporting its carbon emissions and sharing them through the Carbon Disclosure Project.
“With an investment of €500,000 we are planning to install photovoltaic panels on our roofs to generate over 400KwH of energy”, said Toly Chairman and CEO Andy Gatesy. This investment would meet 20% of the company’s total energy demand and result in a reduction of 2,000 tonnes in CO2 emissions.
As more customers and consumers request sustainable products, Toly has trialed and validated 19 materials which are either recyclable, contain recycled materials or are bio-based or biodegradable.
The minister was accompanied by Malta Enterprise CEO Kurt Farrugia and Chairman William Wait.