AP NEWS

CORRECTING and REPLACING Future IKEA Live Oak to be equipped with solar rooftop array and EV charging stations

November 14, 2018

LIVE OAK, Texas--(BUSINESS WIRE)--Nov 14, 2018--Reissuing release dated November 13, 2018 to correct ticker symbol for searching purposes and to replace fourth paragraph.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181113006161/en/

Future IKEA Live Oak to be equipped with solar rooftop array and EV charging stations (Photo: Business Wire)

The corrected release reads:

FUTURE IKEA LIVE OAK TO BE EQUIPPED WITH SOLAR ROOFTOP ARRAY AND EV CHARGING STATIONS

IKEA, the world’s leading home furnishings retailer, today announced that its future San Antonio-area store will be equipped with solar panels and electric vehicle (EV) charging stations when it opens Winter 2019 in Live Oak, TX.

IKEA Live Oak will feature a 245,000-square-foot solar array, which will consist of a 1.72 MW system, built with 4,986 panels, and produce approximately 2,510,000 kWh of electricity annually for the store, the equivalent of reducing 1,86 metric tons of carbon dioxide (CO 2 ) – equal to the emissions of 400 cars or providing electricity for 280 homes yearly (calculating clean energy equivalents at www.epa.gov/energy/greenhouse-gas-equivalencies-calculator ).

For the development, design and installation of the new store’s solar power system, IKEA selected REC Solar, a national leader in solar electric design and installation with more than 580 systems built across the U.S.

In addition, the store will have three Blink ®  electric vehicle charging stations. This initiative reflects the continued partnership between IKEA and Blink Charging Co. (NASDAQ:BLNK, BLNKW) a leading owner, operator and provider of electric vehicle (EV) charging station products and networked EV charging services with thousands of public charging stations in the U.S. There are currently Blink EV charging units at 34 IKEA stores in the U.S.

“We are excited to further our sustainability commitment with the installation of solar panels and electric vehicle charging stations at the future Live Oak store,” said Lars Petersson, IKEA U.S. president. “At IKEA, we have a mission to create a better everyday life for the many, and IKEA Live Oak can add to this goal by installing the second-largest solar rooftop array in the San Antonio area.”

This installation will represent the 55 th  solar project for IKEA in the U.S., and contribute to the company’s solar presence atop nearly 90% of its U.S. locations, with a total generation of more than 56 MW. IKEA owns and operates each of its solar PV energy systems atop its buildings – as opposed to a solar lease or PPA (power purchase agreement) – and globally has allocated $2.5 billion to invest in renewable energy through 2020, reinforcing its confidence and investment in solar photovoltaic technology. Consistent with the goal of being energy independent by 2020, IKEA has installed more than 750,000 solar panels on buildings across the world and owns approximately 441 wind turbines, including 104 in the U.S.

To charge an EV at the future IKEA Live Oak, drivers can tap their Blink InCard (RFID card) to the reader below the screen, initiate the session directly from the Blink Mobile application, or use a guest code provided via the Blink Mobile app,  www.BlinkCode.com, or Blink Customer Support (888-998-2546). Once the session is initiated, drivers can shop and eat at their leisure in the IKEA store while their vehicle is charging. EV drivers can become a Blink member for free and typically receive discounted charging fees at thousands of Blink units. More information about how to use the Blink EV charging stations and how to become a Blink Member is available at  blinknetwork.com.

Drawing from its Swedish heritage and respect of nature, IKEA believes it can do good business while minimizing impacts on the environment. Globally, IKEA evaluates locations regularly for conservation opportunities, integrates innovative materials into product design, works to maintain sustainable resources, and flat-packs goods for efficient distribution. Specific U.S. sustainability efforts include: recycling waste material; incorporating environmental measures into the actual buildings with energy-efficient HVAC and lighting systems, recycled construction materials, skylights in warehouse areas, and water-conserving restrooms; and operationally, eliminating plastic bags from the check-out process, and selling only LED bulbs.

The 289,000-square-foot future IKEA Live Oak store will reflect the same unique architectural design for which IKEA stores are known worldwide. It will be built on 31 acres at the southwest corner of Interstate 35 and Loop 1604, approximately 15 miles northeast of downtown San Antonio. The future IKEA Live Oak will feature nearly 10,000 exclusively designed items, multiple inspirational room-settings, three model home interiors, a supervised children’s play area, and a restaurant serving Swedish specialties such as meatballs with lingonberries and salmon plates, as well as American dishes.

About IKEA

Since its 1943 founding in Sweden, IKEA has offered home furnishings of good design and function at low prices. The IKEA Group operates 367 IKEA stores in 30 countries, including 48 in the U.S. IKEA incorporates sustainability into day-to-day business and supports initiatives that benefit children and the environment. For more information, see  IKEA-USA.com@IKEAUSANews@IKEAUSA  or IKEAUSA on  FacebookYouTubeInstagram  and  Pinterest.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181113006161/en/

CONTACT: For IKEA

Victoria Peris, 305-347-4343

victoria.peris@bcw-global.com

KEYWORD: UNITED STATES NORTH AMERICA TEXAS

INDUSTRY KEYWORD: DEPARTMENT STORES HOME GOODS ENVIRONMENT RETAIL SPECIALTY OTHER RETAIL

SOURCE: IKEA

Copyright Business Wire 2018.

PUB: 11/14/2018 04:12 PM/DISC: 11/14/2018 04:11 PM

http://www.businesswire.com/news/home/20181113006161/en

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