Elbit Systems Expands Reliance on Sustainable Energy

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Elbit Systems announced that it will commence a project to establish power generation and energy storage units at several of the Company’s facilities in Israel.

As part of this project, Elbit Systems will increase the volume of electricity generated from renewable energy and lower emission energy sources and will improve the energy consumption management throughout its facilities. The Company will install a range of electricity generation systems using photovoltaic technology, including solar panels on the rooftops of Elbit Systems’ facilities, offices and buildings – across an area totaling in tens of thousands of square meters. In addition, the Company will build a 3 megawatt energy generation plant powered by natural gas, an energy storage facility and a management system that will synchronize (on a daily basis) the production activity using the various technologies and energy consumption.

Elbit Systems selected S’energy Renewable Energy (S’energy), is an entrepreneurial company with a strong engineering, procurement and construction (EPC) department, to deliver the project. Both companies have agreed, in principal, to cross sell electricity from renewable energies, the first agreement of its kind in Israel. The companies agreed that Elbit Systems may purchase electricity generated at S’energy’s production sites throughout Israel. These sales of electricity are subject to the approval of relevant regulations in Israel.

Elbit Systems is also taking additional measures to expand its reliance on cleaner energy and reduce its carbon footprint. As part of these efforts, the Company’s extensive fleet of Company vehicles has significantly increased the number of hybrid vehicles and now offers Israeli employees the option to lease electric vehicles, providing dedicated charging stations at the Company’s facilities.

Moreover, Elbit Systems recently announced a partnership with Air France KLM Group to promote sustainability in aviation. As part of this collaboration, carbon dioxide emissions related to Elbit Systems employees air travel with the Air France KLM Group will be assessed, and Elbit Systems will be given the opportunity to contribute to the purchase of recycled aviation fuel (SAF – Sustainable aviation fuel) to offset the carbon emissions generated by such air travel.

Yuval Ramon, Elbit Systems Executive Vice President and Chief Operating Officer, said: “Elbit Systems is expanding its efforts to reduce the Company’s carbon footprint and expand its reliance on cleaner energy as part of the Company’s commitment to sustainability and protecting the environment.”

About S’energy Renewable Energy                                                                                             

S’energy Renewable Energy is an entrepreneurial company and a pioneer in the solar energy sector. S’energy was one of the first companies in Israel to enter the solar energy field, accumulating extensive experience and establishing a strong reputation and a major presence in the renewable industry in Israel and abroad. S’energy plans, imports and, installs commercial solar systems for industrial entities, public institutions, agricultural enterprises, and water reservoirs.

In recent years, S’energy Renewable Energy has initiated and established hundreds of renewable projects for a variety of clients, with a high engineering complexity. S’energy is currently building and developing hundred of MWp in Israel.