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ENGIE's Renewable Energy Pact with Einstein Bros.® Bagels

In a landmark development, ENGIE North America has formed a partnership with the popular bagel chain, Einstein Bros.® Bagels, aimed at delivering round-the-clock renewable energy solutions. This initiative is not only a significant stride towards sustainable energy but also reaffirms ENGIE's commitment to providing 24/7 clean energy to its commercial clients by the year 2030.

The contract stipulates that ENGIE will match 90% of the hourly electricity consumption of 25 Einstein Bros.® Bagels locations in Texas using Renewable Energy Credits (RECs). This matching will rely heavily on renewable resources such as wind and solar energy, specifically harnessed from ENGIE's Live Oak Wind Project located in Texas. With this approach, ENGIE utilizes its unique position within the market, allowing it to operate as a developer and operator of both renewable energy sources and flexible generation assets throughout North America. Such capabilities are essential for pioneering sustainable energy solutions.

The move is part of a broader corporate goal by ENGIE to drive forward the transition to a carbon-neutral world. By utilizing a diverse range of renewable generation, storage facilities, and flexible assets, ENGIE aims to ensure that businesses, regardless of size, have access to reliable and environmentally-friendly electricity.

David Benhamou, who oversees power portfolio management for ENGIE North America, elaborates on the complexities involved in achieving this goal. Implementing a 24/7 matching solution is notably more challenging than the traditional annual matching system. This method requires meticulous tracking of hourly generation across various renewable sources, ensuring that RECs correspond with the energy consumption patterns at Einstein Bros.® locations.

Einstein Bros.® Bagels has previously had a retail energy supply agreement with ENGIE, which had been focused on annual matches from the same Live Oak Wind Project. “At Einstein Bros.® Bagels, we recognize the importance of sustainable energy solutions, and we're proud to take this next step with ENGIE toward a cleaner future,” stated Héctor Briones, the CMO for the brand. This commitment to integrating 24/7 renewable energy solutions resonates strongly with their ethos of responsible energy use and progressive industry practices.

Einstein Bros.® Bagels prides itself as a neighborhood bakery, providing an array of fresh-baked bagels and an extensive selection of premium double-whipped cream cheese. Their menu also includes breakfast and lunch sandwiches, coffees, and catering services, operating over 680 locations across the United States. As part of the Panera Brands group, which also includes Panera Bread® and Caribou Coffee®, Einstein Bros.® Bagels is well positioned to contribute to a sustainable energy narrative.

ENGIE North America, headquartered in Houston, Texas, embodies a strong drive for energy transition, with approximately 98,000 employees across 30 nations. The organization participates in every facet of the energy value chain, from production and infrastructure to sales, nurturing both renewable electricity and green gas, and facilitating local energy distribution networks.

The strategic partnership between ENGIE and Einstein Bros.® Bagels is a reflection of the growing trend in the food service industry towards sustainability and corporate responsibility. By committing to 24/7 matching renewable energy, both companies are setting a new standard for responsible energy consumption in their sector. With ENGIE's ongoing investment strategy, which allocates over $10 billion annually towards energy transition efforts, both parties are poised to significantly impact the drive towards a carbon-neutral economy by 2045.