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. Smart Buildings: Johnson Controls revenue was $6.9 billion in Q4 of 2023, up 3% from Q4 of 2022. The company's overall results for 2023 "further validate that our strategy of providing solutions that make buildings smarter, healthier, and more sustainable continues to gain momentum," said Chairman and CEO George Oliver. Still, the Q4 results fell short of Wall Street's expectations.
2. Integration - Hawaii Clean Energy Projects: The Hawaiian Electric Company has selected clean energy integrator Ameresco for two projects on the island of O‘ahu.
- The first project involves the Pu`uloa Energy installation -- which is designed to generate 99 megawatts (MW) of firm renewable power leveraging clean fuels including biodiesel and biogas fuels. The project is expected to provide clean energy by Q4 of 2027.
- The second project -- known as Pu`uloa Solar -- is designed to provide Oahu with an additional 6.4 MW of solar generation combined with 6 MW/30 megawatt hours (MWH) of energy storage to provide solar after sunset when electricity use remains high. The project is expected to provide clean energy by Q3 of 2026.
Financial terms of the projects were not disclosed.
3. Cloud Services: 2bcloud, a multi-cloud managed service provider (MSP) for tech companies, has assisted Tadiran Telecom with a digital transformation built atop Microsoft Azure. The effort focused on scalability, reliability, security, environmental impact and global reach. Still, the companies did not disclose specific carbon emissions data related to the cloud services migration.
4. Carbon Offsets: Citigroup is exploring entirely new carbon credit deal structures. The effort has the potential to entice risk-averse investors to emerging markets via a controversial corner of climate finance, Bloomberg reported.
5. Research - Green Energy Market Forecast: The global green energy market will reach $2.4 trillion by 2032, up from $1.0 trillion in 2022, according to Allied Market Research. That's a compound annual growth rate (CAGR) of 8.9%, the report said.
6. Research - Energy Storage Spending: Rising renewable energy capacity and the deployment of electric vehicles will make energy storage the priority technology for energy transition investments in the coming years, according to the 2023 Reuters Events Energy Transition Insights report.
7. Consulting - Rebrand: Advisian has rebranded as Worley Consulting. The business continues to focus on infrastructure, environmental and energy services.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Funding - Semiconductor Manufacturing: Multiple technology companies -- including IBM, Micron, Applied Materials and Tokyo Electron -- will. establish a next-generation semiconductor research and development center at the New York Creates’ Albany NanoTech Complex. The $10 billion effort focuses heavily on sustainable semiconductor manufacturing processes, materials use, waste reuse and reclamation, and fab design.
2. M&A - EV Charging: EasyLease, a motorcycle rental company, has acquired 60% of Fully Charged, a UAE-based company specializing in electric vehicle (EV) charging technology. FullyCharged, launched in 2020, offers home charger installation, corporate charging solutions, and ongoing support and maintenance. The company has installed more than 5,000 charging devices since inception. Financial terms of the deal were not disclosed.
3. M&A - Waste Management: EQT has acquired Heritage Environmental Services (HES) from The Heritage Group. The acquired business provides sustainability and industrial waste management services in the United States. HES has roughly 1,600 employees. The company manages roughly 660,000 tons of industrial waste per year for more than 1,800 customers.
4. 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. COP28 - Fossil Fuel Debate: The COP28 climate summit was hurtling towards overtime today, with negotiators awaiting a new draft deal after many countries criticized a previous version as too weak because it omitted a "phase-out" of fossil fuels, Reuters reported.
2. COP28 - Renewable Energy Targets: More than 100 countries at the climate summit agreed to triple renewable energy capacity by 2030 -- one of the least controversial commitments floated at the conference, Reuters noted. But the countries have given little detail on how they can make an industry running flat out go that much faster, the report added.
3. China: The China State Power Investment Corp (SPIC) announced a 42 billion yuan ($5.85 billion) investment plan in northeast China to produce fuel from hydrogen produced from wind power, Reuters reported.
D. Sustainability and Green Technology Conference Calendar
- Sustainability Forum Middle East (SFME) 2024 (January 8-9, Bahrain)
- European Chief Sustainability Awards (January 15, Davos)
- Intersolar North America and Energy Storage North America 2024 (January 17-19, San Diego, California)
- Recycling, Circular Design & Sustainable Sourcing for EV Batteries & Carbon Neutral Vehicles USA Congress 2024 (January 23-25, Detroit, Michigan)
- ARC Industry Leadership Forum 2024Â (February 4-8, Orlando, Florida)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
1. Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
2. Future Updates: Send us your news tips.Please email me the details.
