SCHNEIDER ELEC UNSP/ADR - SBGSY STOCK NEWS

Schneider Electric has appointed Ruben Llanes as the new Chief Executive Officer of AutoGrid. He will also serve as the Segment President for Schneider Electric's North American Power and Grid segment, succeeding founder Amit Narayan, who will remain on the Board. Llanes aims to enhance the integration of distributed energy resources, develop new revenue streams, and deepen customer engagement. His extensive background includes roles in sales and strategy at Schneider Electric and investment banking at Deutsche Bank. This leadership transition seeks to strengthen AutoGrid's position in the energy management sector.

AlphaStruxure has secured a contract to design and operate a microgrid for the New Terminal One (NTO) at JFK Airport, enabling significant decarbonization efforts. This 11.34 megawatt microgrid will feature the largest rooftop solar array on any U.S. airport terminal, consisting of over 13,000 solar panels, generating enough electricity to power approximately 3,570 homes annually. The project will reduce greenhouse gas emissions by 38% compared to traditional energy sources. Expected to create over 10,000 jobs, the terminal aims for completion by 2030 and is projected to set new standards in energy resilience and sustainability.

Schneider Electric has been ranked #1 in its peer group and 7th globally in the 2023 Global 100 list of Most Sustainable Corporations by Corporate Knights. This marks the 12th consecutive year Schneider has been recognized, earning high scores for climate and social commitments, including sustainable revenues and gender diversity. It remains the only company in its category on the Global 100 since 2012. Additionally, Schneider received top ESG ratings from S&P, CDP, and Moody's, highlighting its commitment to sustainability. The company was also awarded the Terra Carta Seal, recognizing its role in driving innovation for sustainable markets.

Schneider Electric participated in the White House Electrification Summit, emphasizing the role of electrification in achieving U.S. climate and equity goals. CTO Scott Harden highlighted investments from the Inflation Reduction Act and the Bipartisan Infrastructure Law as crucial for this transition. The company, headquartered in Boston, operates across 48 states and announced a $100 million investment for a new plant in El Paso, TX. Schneider also leads in microgrid development and has significant partnerships with the U.S. Navy and Veterans Affairs to enhance energy efficiency and modernization.

Schneider Electric has launched its Wholesale Building Management Distributor Program, aimed at enhancing support for distributors. This initiative underscores Schneider's commitment to providing resources and incentives to boost sales and revenue for partners. Distributors selling core building components will be automatically enrolled, gaining access to unique benefits such as a vendor-neutral training program, pricing discounts, free shipping, and inventory re-balance assurance. This program responds to the growing demand for energy-efficient solutions as buildings reopen, emphasizing the importance of reliable HVAC and building management systems.