Southern California Edison Presents One of California’s Largest Rebates to TowerJazz based on Trane Energy Upgrades

Newport Beach, Calif., Oct. 1, 2018 – Southern California Edison recently presented a $1.85 million check – one of its largest incentive rebates to date – to leaders at the TowerJazz plant in Newport Beach, Calif. TowerJazz collaborated with Trane® to complete energy-saving upgrades at the facility, which reduced peak energy demand at the circuit-manufacturing plant by more than 1.3 megawatts, saving about 12.5 million kilowatt hours annually. This is equivalent to eliminating greenhouse gas emissions from 2,000 cars.

The project focused on modernizing TowerJazz’s chiller plant and replacing aging and outdated equipment. The plant has more than 800 employees and fabricates 200-millimeter wafers (silicon material used in electronics for the manufacture of integrated circuits), in markets such as consumer, industrial, automotive, medical and aerospace and defense.

Completed in November 2017, the upgrades reduced heating, ventilation and air conditioning (HVAC) energy use by nearly 50 percent while improving the manufacturing and working environment. The plant, previously the organization’s second-to-worst energy user, is now the second most efficient energy user.

Before selecting energy conservation measures, the Trane and TowerJazz project teams used energy modeling to identify the best solutions for the facility. The Trane team worked carefully with personnel from various groups at the plant including facilities management, corporate finance and HVAC shop personnel to align all the stakeholders’ goals.

Since the facility operates 24 hours a day, seven days a week, Trane developed a detailed implementation plan to minimize any impact on the manufacturing environment. During the upgrade, the project team added four new chillers, updated chiller plant optimization controls and upgraded the condensing water pump motors to help ensure that the building runs at peak performance.

“Because so many stakeholders were engaged, it’s been exciting to see the positive impact these improvements contributed to the overall environment,” said Jerry Kelley, facilities director at TowerJazz.

“This project proved a true ‘win-win’ for TowerJazz,” said Michael Day, utility markets leader for Trane. “They created a better environment for both employees and manufacturing – all while significantly cutting energy costs.”

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About TowerJazz

Tower Semiconductor Ltd. (NASDAQ: TSEM, TASE: TSEM) and its subsidiaries operate collectively under the brand name TowerJazz®, the global specialty foundry leader. TowerJazz manufactures next-generation integrated circuits (ICs) in growing markets such as consumer, industrial, automotive, medical and aerospace and defense. TowerJazz’s advanced technology is comprised of a broad range of customizable process platforms such as: SiGe, BiCMOS, mixed-signal/CMOS, RF CMOS, CMOS image sensor, integrated power management (BCD and 700V), and MEMS. TowerJazz also provides world-class design enablement for a quick and accurate design cycle as well as Transfer Optimization and development Process Services (TOPS) to IDMs and fabless companies that need to expand capacity. To provide multi-fab sourcing and extended capacity for its customers, TowerJazz operates two manufacturing facilities in Israel (150mm and 200mm), two in the U.S. (200mm) and three facilities in Japan (two 200mm and one 300mm). For more information, please visit www.towerjazz.com.

About Ingersoll Rand and Trane

Ingersoll Rand (NYSE:IR) advances the quality of life by creating comfortable, sustainable and efficient environments. Our people and our family of brands — including Club Car®Ingersoll Rand® , Thermo King® and Trane® — work together to enhance the quality and comfort of air in homes and buildings; transport and protect food and perishables; and increase industrial productivity and efficiency. We are a $14 billion global business committed to a world of sustainable progress and enduring results. Trane solutions optimize indoor environments with a broad portfolio of energy efficient heating, ventilating and air conditioning systems, building and contracting services, parts support and advanced control. For more information, visit www.ingersollrand.com or www.trane.com.

Trane and the Circle Logo are trademarks of Trane in the United States and other countries. TowerJazz is a trademark of Tower Semiconductor Ltd. All trademarks referenced are trademarks of their respective owners.

Contact Information

Heidi McGuire

651-407-4000

heidi.mcguire@irco.com