The 15-year agreement will enable
SodaStream to transition to 100% renewable energy by the beginning
of 2024 at all of its global production sites in Israel.
KFAR SABA, Israel, Aug. 1, 2023
/PRNewswire/ -- As the world's leading sparkling water brand and a
subsidiary of PepsiCo (NASDAQ: PEP), SodaStream has entered into a
corporate power purchase agreement ("PPA") with Enlight Renewable
Energy (NASDAQ: ENLT, TASE: ENLT), a leading global renewable
energy platform. The agreement will enable the full operation of
SodaStream's global production sites in Israel to operate utilizing renewable energies
beginning in 2024.
The electricity will be sourced from Enlight's solar and storage
facilities, as part of the new market regulations in Israel.
The agreement marks a significant milestone for SodaStream, as
the company aims to transition to 100% renewable energy at all of
its global production sites in Israel by the beginning of 2024, and achieve
net-zero emissions by 2040. Once Enlight begins to supply clean
energy, SodaStream's factories in Ashkelon and Idan Negev - where SodaStream's
main production facilities are located and where the company's
products are marketed to over 48 countries around the world - will
utilize electricity from renewable sources.
The agreement was introduced following new market regulations in
Israel, constituting a revolution
for the country's electricity market, as it allows green power
producers like Enlight to enter into direct purchase agreements
with major companies such as SodaStream. This move may accelerate
the renewable energy transition across the Israeli economy.
Eyal Shohat, CEO at SodaStream
International, said: "SodaStream has been and will continue to
be a pioneer regarding environmental responsibility, which is at
the core of its business activities and products. For years,
SodaStream has been at the forefront of the uncompromising efforts
to reduce single-use plastic waste; in 2022 alone, we successfully
eliminated approximately 5 billion single-use plastic bottles. With
the welcome regulation in the electricity sector, we are glad to be
pioneers in the Israeli industry regarding the transition to
renewable energies and a drastic reduction in our carbon footprint.
The new strategic partnership with Enlight, a company that leads
the transition to renewable energies, will allow SodaStream to take
another step toward the goal we have set - a 100% renewable energy
transition in all of our production sites around the world, as part
of a global strategy to preserve the environment, reduce the carbon
footprint, and work toward a sustainable world."
Gilad Yavetz, Co-Founder, and
CEO of Enlight Renewable Energy, stated: "Since the
deregulation of the electricity market in Israel, we have seen significant demand for
renewable energy from Israel's
leading multinational companies. I congratulate SodaStream for the
strategic partnership and the significant step in its fight against
the climate crisis. SodaStream is one of the pioneers that chose to
join Enlight in signing a PPA, seeking to both lower their energy
costs and accelerate their transition to net-zero emissions. This
trend is only expected to strengthen, benefiting our customers
while also increasing Enlight's return on its projects."
For more information on SodaStream, please visit
sodastream.com.
About SodaStream:
SodaStream, a PepsiCo subsidiary, is the world's leading sparkling
water brand. Operating in over 48 countries across the globe,
SodaStream empowers consumers to create perfect personalized
sparkling beverage experiences with just a push of a button. By
allowing its users to make better choices for themselves and the
planet, SodaStream is revolutionizing the beverage industry and
changing the way the world drinks. To learn more about SodaStream,
visit www.sodastream.com and follow SodaStream on Facebook,
Instagram, and YouTube.
About Enlight Renewable Energy:
Founded in 2008,
Enlight develops, finances, constructs, owns, and operates
utility-scale renewable energy projects. Enlight operates across
the three largest renewable segments today: solar, wind, and energy
storage. A global platform, Enlight operates in the United States, Israel, and 9 European countries. Enlight has
been traded on the Tel Aviv Stock Exchange since 2010 (TASE: ENLT)
and completed its US IPO (Nasdaq: ENLT) in 2023. For more
information, visit https://enlightenergy.co.il/.
Press Contact:
SodaStream
Clara Ghighi Sadoun
clarag@sodastream.com
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SOURCE SodaStream
