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]
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]
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$250 million per year.[19]
In 2010 and 2012, Targray established two new business divisions, created to supply lithium-ion battery materials and bio-based fuels, respectively. Shortly thereafter, the company began marketing biodiesel blends from its terminal location in California.[20] In October 2016, professional services firm Ernst & Young named Targray President Andrew Richardson the winner of the 2016 Quebec Ernst & Young Entrepreneur of the Year Award.[21]
In June 2022, Financial Post ranked Targray No. 297 on the FP500, an annual listing of the largest corporations in Canada by revenue.[1]
CAD$ 1.12 billion (2021)[1]
