Chipotle Mexican Grill (NYSE: CMG) has revealed a new restaurant design that utilizes all-electric equipment and systems to meet the company’s environmental initiatives.
The Mexican cuisine chain has already opened two restaurants with this design – one in Gloucester, Virginia and the other in Jacksonville, Florida. A third is set to open in Castle Rock, Colorado this summer.
The sustainable features include rooftop solar panels, replacing gas power equipment, more energy management systems, and new EV charging stations. These elements will be added to around 100 new stores in 2024, according to officials.
Chipotle’s target is to reduce direct and indirect greenhouse gas emissions 50% by 2030. The new model will also lend itself to the company’s goal of reaching 7,000 locations in North America.
“With our aggressive development goal in North America, we hold ourselves accountable to reduce the environmental impact of our restaurants,” Chief Corporate Affairs Officer Laurie Schalow said in a statement.
Chipotle counts almost 3,200 locations companywide and currently has a market cap of $48 billion.