A. Sustainable Technology, Talent, Partnerships and Alliances
1. Partnership - Digital Solutions for Water Management:Schneider Electric and SUEZ have partnered to "accelerate the deployment of digital solutions for energy efficiency, resource conservation, and the control of carbon impact of water cycle management systems," the companies said.
3. Data Centers: In its most recent quarter, Digital Realty's key wins included "an innovative sustainability oriented infrastructure provider," CEO Andrew Power told Wall Street analysts during the company's July 27, 2023 earnings call. Power added: "Data intensive workloads are being deployed on Platform Digital by a major US federal agency to reduce costs and improve sustainability, while interconnecting with their key ecosystem partners." Digital Realty also is a founding member of the The Climate Neutral Data Centre Pact, which spans more than 100 data center operators, cloud services providers and associations across Europe.
4. Cloud Services Migration:Occidental Petroleum Corp., an international energy company, has selected AWS as its preferred cloud provider to drive its digital transformation. As part of this new multiyear agreement, Occidental will migrate its core production applications and on-premises information technology (IT) infrastructure to "AWS to improve operational efficiencies, eliminate upfront capital expenditures, and support the company’s development of systems that will remove carbon dioxide (CO2) from the atmosphere, including large-scale direct air capture (DAC) plants," the companies said.
5. Financial Results: Among the quarterly results to note...
Enphase Energy revenue was $711.1 million in Q2 of 2023, up from Q2 of 2022. Net income was $157.2 million, up from $77 million in Q2 of 2022. Still, Enphase's stock fell sharply amid concerns about the company's Q3 2023 sales guidance.
First Solar net sales were $811 million in Q2 of 2023, up from $620.9 million in Q2 of 2022. Net income was $170.6 million, up from $55.8 million in Q2 of 2022. Looking ahead, First Solar plans to spend as much as $1.1 billion on a new US manufacturing site, a sign that president Joe Biden’s Inflation Reduction Act is boosting domestic clean energy industry, Bloomberg reported.
Tara Moss, EVP, global head of consulting, Dentsu Good
6. Executive Leadership - Consulting: Tara Moss has rejoined Dentsu -- this time as EVP, global head of consulting, dentsu good. Moss has over 15 years of experience in strategy, marketing, eCommerce and sustainability, the company noted. Moss will lead dentsu good, partnering with creative innovators and Social Impact experts from across dentsu’s 72,000-strong team. Dentsu good enables businesses to realize the commercial value of their sustainability investment by offering their customers preferable, more sustainable choices, the company asserted.
7. Executive Leadership - Energy Infrastructure:GE Vernova, the company's portfolio of energy businesses, named Dan Garceau as operations and lean leader. Garceau will guide GE Vernova lean strategy, overseeing the Global Supply Chain, Health, Safety & Environment, Quality, Indirect Sourcing and Facilities. Also, Pablo Koziner joins as strategy leader. Koziner will focus on helping further operationalize business strategies horizontally across GE Vernova in partnership with the leadership team as well as oversee the GE Vernova Advanced Research Center, the company said.
B. Sustainability M&A, Investments and Funding
1. Funding - Electric Vehicle (EV) Charging Network:ChargePoint has lined up a new $150 million revolving credit facility involving J.P. Morgan Chase Bank, HSBC Innovation Banking, Citi and Goldman Sachs. ChargePoint has not yet drawn from the credit facility. The EV charging network company is seeking to generate positive adjusted EBITDA and positive cash flow by the end of calendar 2024.
C. Regional and Global Sustainability Policies and News
1. U.S. Energy Gird: The top U.S. energy regulator approved rules aimed at more quickly bringing wind, solar and other clean-power projects online, a critical milestone for bolstering grids that are facing increasing stress from extreme weather, Bloomberg reported. All four FERC commissioners voted in favor of the interconnection queue reforms, which will prioritize projects that are in more advanced stages and evaluate them in clusters. Projects previously were assessed on a first-come, first-served basis, the report said.
2. U.S. Senate Hearing - E-Waste: The U.S. committee on environment and public works held a hearing to explore how businesses can improve critical mineral recovery through e-waste recycling and reuse. Here's a recording of the hearing.
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