JE Cleantech (Nasdaq: JCSE) Takes Major Step towards Carbon Neutrality with Installation of Solar PV Systems

January 31, 2023 at 11:30 AM EST

Singapore - (NewMediaWire) - January 31, 2023 - (ACN Newswire) - JE Cleantech Holdings Ltd (Nasdaq: JCSE), a Singapore-based cleantech company, today announced that it had completed the commissioning of solar photovoltaic systems installation at its facilities. The installation of the solar systems is one step further in the company's efforts toward reducing the impact of its carbon footprint as aligned with its pledge to become carbon neutral by 2030.

The solar photovoltaic systems were installed in October last year and successfully connected today. The solar photovoltaic systems are expected to generate a total of approximately 205,000 kWhs per year, which will respectively cover 29 percent of the energy consumption for the facility manufacturing precision cleaning system and 10 percent of the total energy necessary for the operation of the facilities. Collectively, the implementation of the solar systems will generate an estimated savings of approximately 205,000 kWhs of electricity per year, or approximately SGD 77,000.00 per year for JE Cleantech. Utilization of electricity produced through solar energy is also critical to reducing the Company's dependence on electricity produced by the burning of fossil fuels.

As a leading manufacturer of precision cleaning systems in Singapore, JE Cleantech attaches great importance to its social responsibilities. The installation of solar systems at the Company's facility continues to demonstrate JE Cleantech's efforts towards reducing the impact of its carbon footprint by utilizing non-polluting solar energy as well as maintaining its sustainable growth. The Company plans to take a further step in expanding the coverage of its solar system to another facility, with an aim to increase the overall savings and to facilitate its sustainable goal.

Last year, Singapore committed to reducing emissions to around 60 million tonnes of carbon dioxide equivalent in 2030 and achieving net zero emissions by 2050. Along with this, the Government plans to meet 28% of its peak power demand from solar power by 2030. Solar energy is among the fastest-growing sources of new electric generation in Singapore and it is considered the main renewable energy focus by the Government. In line with this, JE Cleantech is sparing no efforts to support the Government and the local community along this journey.

Ms. Bee Yin Hong, CEO and Founder, JE Cleantech, said, "We are proud to take one further step in fulfilling our social responsibilities and support the Government's 2050 net zero initiatives. The installation of solar systems is a milestone of JE Cleantech's support of nature conservation, pollution reduction, and climate change mitigation. This showcases JE Cleantech's ongoing commitment to prioritizing renewable efforts and ensuring a greener and more sustainable future for the community. Looking ahead, we will keep proactively committing to social responsibilities, striving for sustainable growth, and bringing sustainable returns to our shareholders and investors in the long run."

About JE Cleantech Holdings Ltd

JE Cleantech Holdings Ltd (Nasdaq: JCSE) is based in Singapore and is principally engaged in the sale of cleaning systems and other equipment; and the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. JE Cleantech also provides centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. For more information about JE Cleantech, please visit our website: www.jecleantech.sg.

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

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