SCHNEIDER ELECTRIC SA - SBGSF STOCK NEWS

Schneider Electric, a leader in energy management and automation, made significant announcements at the 20th anniversary of RE+, North America's largest clean energy event. The company introduced Schneider Charge Pro, a commercial EV charger, and Schneider Home, an integrated home energy management solution. These innovations aim to accelerate the energy transition by simplifying prosumer experiences.

Schneider executives are participating in six key panels at RE+, discussing topics such as distributed energy resources (DERs), renewables, virtual power plants (VPPs), and smart panels. The company emphasizes the need for faster technology deployment to electrify homes, buildings, and transport, highlighting its comprehensive portfolio of energy management solutions from grid to plug.

Nadège Petit, Chief Innovation Officer, stressed the importance of rapidly scaling solar technology, EV charging infrastructure, microgrids, and electrification to accelerate the energy transition.

Schneider Electric and GR3N have partnered to create the first open automation system for advanced plastic recycling. GR3N's MADE (Microwave Assisted DEpolymerization) technology breaks down PET into chemical building blocks, creating new PET pellets with virgin-like quality. The collaboration leverages Schneider Electric's EcoStruxure Automation Expert, a software-defined automation system that decouples hardware from software.

Key benefits include industrial scalability, design flexibility, reduced engineering time, and cost savings. The partnership aims to address the global plastic waste crisis, with plans to reach industrial scale by 2027 through a 35-40kta plant. This initiative aligns with the urgent need to revolutionize plastic consumption models and achieve net-zero goals by 2050.

Schneider Electric has enhanced its X Series connected wiring devices with Matter communications protocols, increasing compatibility across major smart home ecosystems. This upgrade simplifies home energy management and improves integration. The X Series line, which includes light switches, dimmers, and outlets, now offers:

1. Real-time energy consumption monitoring
2. Greater visibility and control over device-level energy usage
3. Expanded connectivity within smart home environments
4. Enhanced interoperability with various smart home systems

As a leader in smart home energy management, Schneider Electric aims to provide homeowners with insights into energy usage and tools to optimize consumption, potentially reducing utility bills. The Matter-enabled X Series products are available at major home improvement retailers and electrical distribution outlets nationwide.

The City of Boston, along with Schneider Electric, Northeast Clean Energy Council (NECEC), the Downtown Boston BID, and Mass CEC, is hosting 'Climate Tech in the City' on July 24, 2024. The event aims to bring together the climate tech community for technology demonstrations, information exchange, networking, and celebration. The event underscores Boston's strong standing in climate technology, bolstered by its universities, research institutions, and supportive policy environment. The day's agenda includes an outdoor event at City Hall Plaza from 10:00 AM to 4:00 PM and a block party at Summer Street Plaza from 4:00 PM to 7:00 PM. Both events are open to the public and aim to inspire collaboration and raise awareness about climate technology.

Schneider Electric has opened applications for its third annual Sustainability Impact Awards, recognizing partners' efforts in digitization and decarbonization. Open to customers, channel partners, and suppliers globally, the simplified application process runs until October 15, 2024, with winners announced in early 2025. The awards emphasize strategies for electrification, reduction, and replacement, alongside broader efforts in creating an Electricity 4.0 future. Last year saw over 400 entries from 60 countries, with 12 companies winning the global awards. This initiative is part of Schneider's broader Partnering for Sustainability program, including the recently launched Schneider Electric Sustainability School.

Schneider Electric has donated $250,000 to the Footprint Project, a nonprofit organization focused on deploying renewable energy solutions for disaster relief. The funds will support the installation of solar-powered microgrids in U.S. regions affected by climate emergencies, providing essential power to first responders and residents. Since 2018, the Footprint Project has completed 25 missions, including responses to the Mississippi tornadoes and Maui wildfires. Schneider Electric has donated $1.7 million over four years, supporting the expansion of Footprint Project's efforts. This partnership highlights Schneider's commitment to sustainability and disaster resilience.

Schneider Electric forecasts a notable 50% increase in U.S. industry electrification by 2030, from 30% to 45%, potentially reducing fossil fuel demand by 25%. The company's Sustainability Research Institute projects 16 of 21 sectors achieving 60% electrification by 2030, and U.S. industry as a whole reaching 64% by 2040 with a 50% fossil fuel reduction.

To support this trend, Schneider Electric announces a $23.8 million investment in its South Carolina operations, creating 280 new jobs. This includes 130 positions at its Seneca facility and 150 at Columbia. The expansion aims to modernize and electrify facilities to advance sustainability and decarbonization goals.

These initiatives align with broader efforts, including a $140 million investment in U.S. operations and creation of 750 jobs in 2024. Schneider Electric's investment in South Carolina is part of over $440 million spent on its American manufacturing network since 2020.

Schneider Electric and Capgemini have launched the Energy Command Center, an innovative platform to help companies manage and optimize their energy use. This collaboration aims to accelerate the journey towards smarter and greener energy management. The platform integrates advanced AI, machine learning, and IoT technologies to monitor and optimize energy assets across various operations, including data centers and critical environments. Tested since 2022 in Capgemini's Indian campuses, the platform has achieved a 29% reduction in energy consumption in 2023 compared to 2019. This initiative supports their goal of achieving energy efficiency and a net-zero future.

Schneider Electric has launched 'SpecLive Collaborate,' a pioneering platform designed to modernize and streamline the product specification process for architectural, engineering, and construction professionals.

Developed with RIB Software, this cloud-based workspace offers real-time access to technical product data, reducing coordination gaps and enhancing collaboration. The tool provides specifiers with accurate, up-to-date information, improving project transparency and efficiency without requiring new workflows.

Available via the MySchneider portal, SpecLive Collaborate is free for users enrolled in the program.