Here is today’s sustainable IT services news, research and analysis -- written for technology partners, green IT service providers, CIOs, chief sustainability officers (CSOs) and climate accounting professionals.
A. Sustainable Technology, Talent, Partnerships and Green IT Alliances
1. Leadership: Anne Jalkala, chief strategy and sustainability officer at Vaisala, has been appointed to lead the company's Weather, Energy and Environment business. The organization provides meteorology, aviation and roads winter maintenance and driving growth in renewable energy.Â
2. Data Centers - Nuclear Power: Google may tap nuclear energy to power its data centers, CEO Sundar Pichai told Nikkei Asia. The report reinforces growing global chatter about nuclear power for cloud service providers and data centers.
3. Carbon Markets: It is time for governments to have a role regulating voluntary carbon markets and corporate climate targets, the CEO of the grant-giving Bezos Earth Fund said at a Reuters conference.
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. Spin-Off: Honeywell plans to spin off its Advanced Materials business into an independent, U.S. publicly traded company. Annual Advanced Materials revenue will be roughly $3.7 billion to $3.9 billion in fiscal year 2024, with an EBITDA margin greater than 25%, Honeywell said. The spin-off is expected to be completed by the end of 2025 or early 2026. The overall Honeywell business remains focused on "three powerful megatrends – automation, the future of aviation and energy transition," the company said. Honeywell International expects its Sustainable Technology Business to generate $1 billion in revenues "in the next few years," CEO Vimal Kapur told Wall Street analysts during Honeywell's Q4 2023 earnings call.
2. M&A - Carbon Accounting Software: Sagard NewGen has acquired kShuttle, a provider of SaaS software for financial and ESG regulatory reporting. kShuttle, founded in 2016, has 150 employees. The company's software assists customers with various compliance efforts -- including IFRS16, CSRD, carbon footprint calculation and management, EU Taxonomy, and more. kShuttle has offices in France, Luxembourg, Austria, Morocco and Tunisia. In 2024, kShuttle expects to generate more than 14 million euros in turnover, growing by 30% compared to 2023. Financial terms of the deal were not disclosed.
3. M&A - Fire Safety: Siemens Smart Infrastructure has acquired Danfoss Fire Safety, which specializes in fire suppression technology. Siemens says the deal will boost the company's sustainable fire safety portfolio. The acquired business, spanning 25 people, develops a fire extinguishing system that is non-polluting, allowing Siemens to "serve customers globally with an environmentally friendly solution," the buyer said. Financial terms of the deal were not disclosed. The acquisition comes amid a Siemens plan to spin off its EV charging business, which includes various managed services and cloud services for EV charging networks.
4. Complete M&A List: Here's our database of all M&A deals involving green IT and renewable energy buyers, sellers and investors.
C. Regional and Global Sustainability Policies and News
1. United States - Another Hurricane Approaches Florida: Hurricane Milton is expected to strike Florida's west coast on Wednesday evening, October 9. To track the storm and associated emergency news, check out the the Florida Division of Emergency Management (FDEM) website.
D. Sustainability and Green Technology Conference Calendar
- Clean Energy Transition Asia (CETA) Exhibition and Summit 2024Â (October 9-11, Malaysia)
- IGEM 2024: International Greentech & Eco Products Exhibition and Conference Malaysia (October 9-11, Malaysia)
- Industrial Transformation Asia-Pacific 2024Â (October 14-16, Singapore)
- Sustainable Brands SB 2024Â (October 14-17, San Diego, California)
- Textile Printing & Sustainability Conference (TPS) 2024 (October 15-16, Düsseldorf, Germany)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
