Expansion of solar investment and innovative renewable electricity solutions in collaboration with Shell Energy to set industry record for electricity generated through on-site solar


NAPA, Calif., May 9, 2023 - Treasury Americas, a division of Treasury Wine Estates Ltd (TWE), is expanding its on-site solar electricity generation through a substantial investment in renewable electricity, which will power each of its wineries. According to independent research conducted by globally recognized assurance and risk management provider DNV, Treasury Americas is estimated to be the leader of on-site solar electricity generation in the U.S. wine industry following the completion of the project. Over 60% of Treasury Americas' electricity will be generated by on-site solar upon completion of the project, setting a record for a U.S. wine company of its size and scale.

Every Treasury Americas winery will receive over half of its electricity needs from on-site solar generation. The project will involve the installation of approximately 13,000 solar panels across Treasury Americas' properties, and when complete, the company's total on-site solar generation will be approximately 14.3 million kWh annually. The project is pivotal in the company fulfilling its goals to transition to 100% renewable electricity by 2024 and net-zero carbon emissions by 2030.

Expanding on a Pioneering Role in Renewable Electricity
Treasury Americas' longstanding commitment to renewable electricity began in 2008 with solar installations at Beringer Vineyards. As part of this new investment, solar panels will be installed across iconic properties including Beaulieu Vineyard, Beringer Vineyards, Etude Winery, and Frank Family Vineyards in Napa Valley, as well as TWE's properties in Paso Robles and the Central Coast. Sterling Vineyards—closed since 2020 due to damage from the devastating Glass Fire—is expected to reopen in the fall of 2023 fully powered by solar electricity.

"We have a responsibility to be stewards of the environment and to mitigate the impact of the climate crisis on our wines and communities. The rapid transition to 100% renewable electricity will eliminate the majority of our production emissions in only a few short years," says Will Drayton, Director of Sustainability and Science for Treasury Americas. "Furthermore, additionality is key. By maximizing our on-site solar generation, we are greening the California grid and opening the door to future developments such as on-site storage."

Going Beyond Solar
Treasury Americas has contracted Shell Energy Solutions to complete the project. To further support TWE's global net-zero commitments, Shell Energy will provide additional solutions including management of the on-site solar generation as well as additional efficiency activities such as the retrofit of LED lighting and compressed air improvements.

"Collaboration is key to achieving decarbonization," says Glenn Wright, Vice President of Renewables and Energy Solutions Americas for Shell Energy. "The work we're doing with Treasury Americas is a perfect example of working together to figure out the right mix of solutions, which leads to achieving carbon footprint objectives. I'm proud of the strong relationship that the Shell Energy and TWE teams have established, and I am looking forward to continuing that into the future."

Links to full press release and visuals here.

About Treasury Americas
Treasury Americas is a division of Treasury Wine Estates (ASX: TWE), one of the world's leading premium wine companies. Based in Napa, CA, Treasury Americas is one of the largest Napa Valley growers, producing luxury grapes in 10 Napa American Viticultural Areas (AVAs) and supplying the strongest luxury portfolio of iconic American brands, such as Beaulieu Vineyard, Beringer Vineyards, Etude Winery, Frank Family Vineyards, Stags' Leap Winery, and Sterling Vineyards, that have been awarded more than 2,000 90+ scores from respected wine critics globally. With beloved wineries in California's most celebrated wine regions, Treasury Americas takes a comprehensive approach to sustainability.

Recognized as the California Green Medal Leader, #1 Healthiest Employer in the Bay Area and a top Healthiest Employer nationally, Treasury Americas' commitment to supporting a prosperous future for winegrowing is clear. As part of TWE's sustainability agenda, which focuses on building a resilient business, supporting healthy communities, and building sustainable wines, the company joined the renewable power initiative RE100 in 2021 with a public commitment to reach 100% renewable electricity by 2024. In reaching this goal, TWE will install more than 29,000 solar modules at its wineries and vineyards across the globe.

About Treasury Wine Estates
Treasury Wine Estates (TWE) is one of the world's leading premium wine companies, employing 2,600 talented people across the world, with wine sold in more than 70 countries around the world. TWE owns world-class wine production and packaging facilities in Australia (primarily in South Australia and Victoria), Marlborough in New Zealand, the North and Central Coast regions of California as well as in France and Italy. With a portfolio of outstanding wine brands, prized viticultural assets and world-class production facilities, TWE's commitment to delivering shareholder value is underpinned by its passion for crafting, marketing and selling quality wine through building sustainable partnerships with customers and other industry partners, globally.

Contacts:
Treasury Americas
Susan Whitman - susan.whitman@tweglobal.com

RF|Binder
Cassidy Havens, DipWSET - Cassidy.havens@rfbinder.com
Jill Metzger - Jill.metzger@rfbinder.com

SOURCE Treasury Americas