TOD'S rooftop solar installations at its headquarters and manufacturing facility in the Marche region resulted in carbon emission reduction of ~126 tCO2, from April to December 2023
SolarEdge Technologies, Inc. ("SolarEdge") (NASDAQ: SEDG), a global leader in smart energy technology, announced today that Italian luxury fashion house TOD'S has expanded its deployment of solar energy with SolarEdge rooftop installations on its headquarters and its manufacturing facility in the Marche region, Italy, totaling 740 kWp.
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The rooftop solar installations at TOD'S headquarters and manufacturing facility are powering approximately 78% of daily energy use, resulting in carbon emission reductions of ~126 tCO2 (Photo: Business Wire)
By leveraging solar energy for self-consumption, the rooftop solar installations at TOD'S headquarters and manufacturing facility are powering approximately 78% of daily energy use, resulting in carbon emission reductions of ~126 tCO2 (calculated with the "location-based method") from April to December 2023.
These installations represent part of the renowned Italian luxury house's mission for corporate sustainability, building on the success of TOD'S first SolarEdge rooftop solar installation back in 2017 on a production facility in Arquata del Tronto, which was used to aid economic recovery following a powerful earthquake in the region. The company also recently installed a new solar installation at its Montecosaro site producing a further 106 kWp of solar energy.
Simona Cattaneo, General Manager at TOD'S Group said: "TOD'S expansion of rooftop solar underlines our commitment to corporate sustainability and is part of our decarbonization journey to reduce our carbon footprint and promote the clean energy transition. By producing and consuming renewable solar energy, we are reducing our dependency on fossil fuels and mitigating the business impact of fluctuating electricity prices, while making the best use of our buildings to produce the levels of energy we need."
Italian renewable energy installer SARI 2030 EDILENERGIA was directed by TOD'S to generate as much energy as possible from the available roof space.
Gabriele Frontoni, CEO at SARI 2030, commented: "As a brand synonymous with craftsmanship and high quality, TOD'S knows the importance of delivering shared value over the long term. Working with TOD'S is challenging yet inspiring, as they require top efficiency, performance and safety to enable them to achieve each project's objectives. As such, when we built TOD'S first solar plant in Arquata del Tronto, we recommended SolarEdge's technology to meet its demand for maximum energy generation, real-time panel-level monitoring and the highest safety standards as a non-negotiable. The technology has excelled on all fronts for several years now, so when it came to designing the recent solar installation at its headquarters and manufacturing facility, TOD'S told us 'it has to be SolarEdge' and they are not the first commercial business to demand this from us
Christian Carraro, Europe General Manager at SolarEdge: TOD'S ambitious solar expansion reflects the growing influence corporate sustainability and ESG is having on solar adoption. Companies also need a strong business case to underpin these ESG initiatives and this is where SolarEdge technology excels producing more power for faster ROI, with an enhanced safety offering. This is why SolarEdge technology is on the rooftops of over 50% of Fortune 100 companies."
About SolarEdge
SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, electric vehicle powertrains, and grid services solutions. SolarEdge is online at www.solaredge.com
About TOD'S Group
The TOD'S Group is a symbol of Italian excellence. It is deeply rooted in Italy's artisan traditions, with a wealth of values that distinguish its vision: a passion for craftsmanship, superb quality and timeless style. Quality and creativity, tradition and modernity. A harmonious blend of these factors runs through the DNA of the TOD'S Group and its brands, each with its own identity: Tod's, Roger Vivier, Hogan and Fay. This overall vision draws strength from the brands' synergy in high-end design; it has enabled the Group to emerge as a leader in the footwear, leather goods and clothing sectors with a significant presence in all the global markets.
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Contacts:
SolarEdge Press Contact:
Lily Salkin
Senior Manager Global PR
Lily.salkin@solaredge.com
SolarEdge Investor Contact:
JB Lowe
Head of Investor Relations
investors@solaredge.com
