Iron Mountain
At a Glance
Industry
Internet, Software, Hardware and Technology Services
Project Types
Clean and Renewable Energy, Zero Emission Vehicles, Freight and Logistics, Sustainability and Energy Management Strategy
Year
2020
Location
Boston, MA
Summary
Jared Alvord created a clear fleet electrification roadmap for Iron Mountain.
Goals
The purpose of Iron Mountain’s partnership with the Climate Corp program in summer 2020 was in response to a massive disruption happening in the transportation industry by Electric Vehicles (“EV’s). EV’s have the potential to cut vehicle total cost of ownership by upwards of 50% by the end of the decade. This coupled with additional value creation opportunities from decreased GHG emissions, positive drive-ability, the potential to decrease regulatory/policy risk and positive brand recognition drove the implementation of this fleet electrification strategy project.
The project scope of work was multi-pronged. The first half of the fellowship focused on Iron Mountain global fleet data acquisition and analysis. The analysis included a heavy emphasis on total cost of ownership comparisons between EV’s and Diesel vehicles. The second half of the fellowship focused on collaborating with internal and external stakeholders to create a fleet electrification strategy and roadmap that provided clear direction for the company moving forward.
Solutions
The fellowship culminated in a clear fleet electrification roadmap for Iron Mountain. These recommendations are listed below:
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Create an EV Integration Working Group made up of key internal stakeholders to drive the fleet electrification strategy forward. Initial deliverables of the working group would include:
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Join an EV public/private electric vehicle initiative,
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Choose electric vehicle charging infrastructure and electric vehicle manufacturer partners
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Make a key strategic investment in one of Iron Mountains major city hubs, with the electrification of a substantive number of Class 2 vans in 2021
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Commit to a 5-Year Fleet Electrification Plan, targeting 10% of the global fleet being electric by 2025.
Impact
This fleet electrification strategy would culminate in the electrification of approximately 450 Iron Mountain vehicles by 2025. This would result in a substantive decrease in greenhouse gas emissions while also offering the opportunity to be economically accretive to Iron Mountain EBITDA.