electrolux & poweroptimal announce pioneering african-born solar pv smart geyser solution

ELECTROLUX & POWEROPTIMAL ANNOUNCE PIONEERING AFRICAN-BORN SOLAR PV SMART GEYSER SOLUTION This unique smart geyser system transforms the installation, maintenance, energy efficiency, and overall cost of geysers for property developers, insurers, and households. South Africa, February 2022 Electrolux South Africa and PowerOptimal today announced the Elon Smart Water Solution, the world's first smart geyser with integrated solar PV capability. With improved efficiency, the locally designed solution reduces cost and risk across the entire hot water and services value chain. We are excited about this new smart and environmentally sensitive water heating solution as we believe it will revolutionise the installation, customer experience, maintenance and cost of geysers for property developers, insurers and households alike. Once the Elon Smart Water Solution is widely implemented in the region, the demand will only grow because businesses and consumers will quickly reap the environmental, maintenance and financial benefits, said Murray Crow, Managing Director at Electrolux South Africa. He added, We aim to become a global sustainability leader in our product lines, our company constantly seeks solutions that help shape living for the better. The smart hot water solution exemplifies the Electrolux Group's ambition to reduce the carbon footprint of our products and our operations overall. Through its sustainability framework, For the Better 2030, Electrolux is committed to becoming climate neutral across the value chain and globally works at reaching its climate targets. Since 2015, the company has reported a 70% reduction in absolute CO2 emissions from operations. The brand aims to develop products and services that enable people to save energy, water, and resources every day while helping to foster a more circular economy. New high-tech solar solution a game-changer Electrolux South Africa, the local market leader in hot water solutions through its Kwikot brand, and PowerOptimal, local manufacturer and developer of the Elon Smart Water Solution, have partnered exclusively to grow the smart hot water market. Together they believe that the environmentally sustainable new system will enable reduced electricity bills, access to tax incentives and reduced carbon emissions. The Elon Smart Water Solution will monitor and closely manage geyser performance and energy consumption, as well as provide early alerts to homeowners and insurers in case of water leaks, element failures or other problems. PowerOptimal's Chief Executive Officer, Richard Fearon, said the solution will transform traditional, old electric geysers into smart, plug-and-play connected geysers that can be monitored and managed from a mobile phone. The Elon Smart Water Solution will change the water heating playing field on the continent and solve several problems that we are facing in terms of high dirty energy' consumption and the soaring cost of electricity. Dr. Sean Moolman, Chief Operating Officer at PowerOptimal, commented that 87% of electricity consumed in South Africa is generated using coal, the most environmentally damaging fossil fuel on the planet. The country is one of the biggest polluters in the world in terms of pollution per unit of energy generated. As 40% of household energy consumption is being used for water heating, there is a major opportunity for managed carbon footprint reduction. The Elon Smart Water Solution will be launched during 2022. For more detailed information on the environmental, financial and risk mitigation benefits of the Elon Smart Water Solution, please visit elonsmartwater.com. -Ends- Electrolux Electrolux is a leading global appliance company that has shaped living for the better for more than 100 years. In 2021, Electrolux employed 52,000 people around the world. Their headquarters are in Stockholm, Sweden. Under its brands, including Electrolux, AEG and Frigidaire, the company sells approximately 60 million household products in over 120 markets every year. Owned by Electrolux since 2017, the well-known Kwikot brand has been the local market leader in sustainable domestic, commercial, and industrial hot water storage systems since its inception in 1903 and has been on a continuous path of innovation. PowerOptimal PowerOptimal, founded in 2014, is a leader in sustainable, smart, simple energy solutions, specialising in hot water. PowerOptimal's Elon Smart Water ecosystem is designed to reduce carbon footprint, risk, and cost through a scalable, connected IoT (Internet of Things) platform.