Schneider Electric S.E. - SBGSF STOCK NEWS

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.

Schneider Electric announced a collaboration with Crux to purchase Section 45X Advanced Manufacturing Production Tax Credits from Silfab Solar. This purchase provides additional capital for Silfab Solar to expand their US solar PV module manufacturing. The collaboration aims to leverage the Inflation Reduction Act's tax credit transfer provisions to enhance renewable energy infrastructure and support sustainability efforts. Crux facilitated the transaction through its transferable tax credit ecosystem. This move is part of Schneider's broader strategy to assist clients in accessing tax credits while mitigating buyer risk. The tax credit market is expected to grow significantly, estimated at $7-9 billion in its first year.

Schneider Electric introduces a Battery Energy Storage System (BESS) as part of a fully integrated microgrid solution driven by its controls, optimization, and digital services. Graybar is the channel partner for BESS, emphasizing renewable energy solutions. BESS captures and stores energy for various applications, offering features like full integration, UL certification, easy installation, resilience, and multiple size options.

Schneider Electric partners with IPConfigure to integrate cutting-edge video surveillance solutions into EcoStruxure Buildings platform, offering a comprehensive security ecosystem. The partnership aims to modernize buildings, enhance security, and simplify building operations through a scalable cloud management tool.

Schneider Electric recognizes five U.S. companies for outstanding decarbonization efforts in the second edition of the Sustainability Impact Awards. Winners showcased innovative sustainability practices in energy management and automation. The global winners will be announced on April 3rd, highlighting the impact of Schneider's partner ecosystem in creating a more sustainable world.