Here is today’s sustainability news, research and analysis for technology partners; renewable energy and green IT service providers; management consultants; CIOs; chief sustainability officers (CSOs) and c-suite members.
A. Sustainable Technology, Talent, Partnerships and Green IT Alliances
1. Clean Energy Leaders: The annual Carbon Clean200 -- a list of 200 publicly traded companies that are clean energy leaders -- has surfaced for 2024.
2. Chief Sustainability Officer (CSO): Rhona DelFrari, chief sustainability officer and executive VP of stakeholder engagement at Cenovus, will take a one-year sabbatical starting May 2, 2024. Jeff Lawson, senior VP of corporate development, will assume DelFrari's responsibilities and join the executive team during her absence.
3. Research - ESG Spending Market Forecast: Fully 90% of business leaders say they will increase their ESG investment in the next three years, KPMG reported. The top three areas of investment include dedicated ESG personnel, ESG-specific software, and employee training and education, KPMG said.
4. AI Data Centers - Growth Opportunity: AI data centers are the single biggest growth opportunity for Bloom Energy over the next decade, CEO KR Sridhar told Wall Street analysts during an earnings call on February 15. The statement surfaced amid a weaker-than-expected financial forecast from Bloom Energy.
5. EV Charging - Rewards Program: Con Edison of New York has launched a managed charging rewards program for commercial operators that offer electric vehicle (EV) charging stations.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. GE Vernova Spin-Off Timing: The GE Vernova spin-off is on track to occur in April 2024, according to an SEC filing.
2. Funding: Camus Energy has raised an additional $10 million. The move brings total Series A funding to $25 million. Camus Energy develops a "grid orchestration platform for a 100% electrified future," the startup said. The round was co-led by climate firm Congruent Ventures and marketplace investor Wave Capital, with participation from Align Impact, Remarkable Ventures Climate fund (RVC), and Groundswell Ventures, alongside Congruent and Wave's Limited Partners.
3. Startup Accelerator: The Net Zero Technology Centre (NZTC) has announced its 2024 TechX start-up cohort -- which spans "12 high potential startups." Each startup will receive up to £100,000 in funding and access to NZTC’s network of mentors, investors, and sponsors, including bp, Equinor, ADNOC and ConocoPhillips, the accelerator said. Relate: Here is a list of accelerators that help entrepreneurs to build their climate tech startups.
4. Seed Funding - Decarbonization and Hydrogen Solutions: Celadyne has raised $4.5 million in seed investment funding. The round was co-led by Maniv and Dynamo Ventures, with major participation from EPS Ventures. Celadyne works with fuel cell and utility companies to convert hydrogen to usable energy. Celadyne, based in Chicago, previously raised money from Shell Ventures, Sputnik ATX, and the Third Derivative Accelerator and Sandy Spring Climate Partners.
5. M&A - Smart Building Consultancy: Contollo Group, backed by the private equity firm NorthEdge, has acquired Abacus. Contollo is a newly formed smart building consultancy that assists United Kingdom customers with energy efficiency, carbon reduction and sustainability initiatives. Abacus is a cost management consultancy offering quantity surveying, project management, and technical services, including due diligence, technical assurance, and fund monitoring to the construction sector. Financial terms of the deal were not disclosed.
6. M&A - Waste Management: Blue Planet Environmental Solutions has acquired a majority stake in Mahindra Waste to Energy Solutions Limited (MWTESL), a subsidiary of the Mahindra Group. The deal will boost Blue Planet's sustainable energy production and waste management capabilities, the buyer said. Financial terms of the deal were not disclosed. The acquisition surfaced two months after Blue Planet raised $35 million in December 2023 to fund operations in India.
7. Complete M&A List: Here's our database of all M&A deals involving sustainability, green IT and renewable energy buyers, sellers and investors.
C. Regional and Global Sustainability Policies and News.
1. United States - Wind Power Challenges: Texas wind farms generated 22% less power in January 2024 compared to January 2023 as low wind speeds continue to stifle output across the main power system in Texas, the largest power market in the United States, Reuters said.
2. Canada - Carbon Capture Project Concerns: The world’s largest carbon-capture project is at risk of never being built because of uncertainty about Canadian government incentives, according to Wood Mackenzie Ltd., Bloomberg reported. The $12 billion (C$16.3 billion) first phase of Pathways Alliance’s massive development to store emissions underground “will be delayed and potentially scuppered” if Canada’s federal and provincial governments don’t figure out how to underwrite some of the financial risks involved, the report said.
3. Asia - Stock Exchange Partnership: Multiple stock exchanges are partnering to build a sustainability-focused ecosystem. The effort, known as the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE), includes such participants as as:
The participants will work to "advance ASEAN’s sustainable development through the implementation of common ESG metrics in their respective data infrastructures." ASEAN, an abbreviation for the Association of Southeast Asian Nations, is a political and economic union of 10 states in Southeast Asia, Wikipedia notes.
D. Sustainability and Green Technology Conference Calendar
- Verdantix Climate Summit North America 2024 (February 20-21, Washington, D.C.)
- World ESG Summit 2024 (February 20-22, Saudi Arabia)
- Step Conference 2024: Earth Track (February 21-22, Dubai, UAE)
- Africa's Green Economy Summit 2024 (February 21-23, Cape Town, South Africa)
- Human Behavior and Sustainability Conference 2024 (February 22-23, Sanford University, California)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
- Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
- Future Updates: If you have news to share then please email me the details.
