Hypertherm Associates Releases 2021 Corporate Culture and Social Responsibility Report
The report highlights the work Hypertherm Associates is doing to connect to the community, build belonging, and drive environmental sustainability.
Posted: October 26, 2022
Hypertherm Associates, a U.S. based manufacturer of industrial cutting products and software, today announced the release of its 2021 Corporate Culture and Social Responsibility Report. This new report celebrates the company’s twentieth year as an Associate owned company and highlights the work Hypertherm Associates is doing to connect to the community, build belonging, and drive environmental sustainability.
As part of a concerted effort to build belonging, Hypertherm Associates undertook several strategic steps to further embed inclusion and diversity into its core workplace and talent processes. During 2021, the company formed an Inclusion and Diversity Executive Council with members of its executive management team and expanded its Critical Success Factors to include the fostering of inclusive and diverse teams. In addition, the company signed two diversity and inclusion pledges and created two new Associate resource groups: one for the LGBTQ+ community and another for U.S. Veterans.
During a time when many businesses paused volunteer activities because of the pandemic, the Associates at the heart of Hypertherm Associates continued to serve the community every day. In all, Associates served a combined 24,993 hours during 2021, for an average of 21 hours per Associate. In addition to a wide range of in-person volunteering, Associates conducted virtual volunteering from locations around the globe. The company’s HOPE Foundation helped multiply the impact of volunteering through deliberate funding including support for three strategic focus areas: SHAPE for STEM, Substance Use Disorders, and Early Childhood.
Hypertherm Associates continues to work toward a set of four environmental goals introduced in the 2020 report. The goals are designed to reduce the company’s use of resources and the carbon impact of its global operations, while also addressing the impact caused by the use of its products. During 2021, the company integrated its OMAX waterjet business into its energy usage metrics for the first time. Despite the addition of an entire business, non-renewable fuel use decreased more than 7 percent while absolute electricity usage increased 3.3 percent. In addition, both direct and indirect greenhouse gas emissions were lower. The company also introduced two new products with environmental benefits: a new more efficient consumable cartridge and PlateSaver™, technology that helps customers use fewer plates and generate less scrap.
“Once again, I am grateful for the hard work and commitment of our Associate owners. In coming together as a global team, our Associates continue to demonstrate an enduring commitment to building long-term sustainable value and making positive change,” said Jenny Levy, Hypertherm’s executive vice-president of people, community, and environment. “Twenty years after the founding of our employee stock purchase plan, ownership permeates our culture, giving our company unique strength, innovation, and resilience in these challenging times.”
Hypertherm Associates is a U.S. based manufacturer of industrial cutting products and software. Its products, including Hypertherm plasma and OMAX waterjet systems, are used by companies around the world to build ships, airplanes, and railcars; construct steel buildings, fabricate heavy equipment, erect wind turbines, and more. In addition to cutting systems, the company creates CNCs and software trusted for performance and reliability that result in increased productivity and profitability for hundreds of thousands of businesses. Founded in 1968, Hypertherm Associates is a 100 percent Associate-owned company, employing approximately 2,000 Associates, with operations and partner representation worldwide.
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