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Sustainability and Green IT Services News for Technology Partners: 13 February 2024

February 13, 2024 by Joe Panettieri

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. Software - Carbon Accounting Business Expansion: Greenly has successfully expanded into the U.S. market -- where the climate tech company now has roughly 250 customers -- including Seaworld and Fruit of the Loom. Greenly's carbon accounting software serves more than 2,000 corporate customers in Europe. Related Podcast: Greenly CEO Alexis Normand describes small business sustainability trends.

2. Consulting Team: Deloitte's global Sustainability & Climate practice now spans more than 6,100 practitioners.

3. AI Chip: Amazon continues to invest in AWS Trinium -- a chip family that's designed to "reduce the time and cost of training generative AI models—cutting training time for some models from months to hours," the company said.

4. Startup: A Seattle startup called Banyu Carbon aims to remove millions of tons of carbon dioxide from the atmosphere with a process that avoids the astronomical energy demands of other carbon capture approaches, Bloomberg reported. The technology? Sunlight and seawater, the report said.

B. Sustainability M&A, Investments, Funding and Green IT Business Launches

1. M&A - Slowdown: M&A activity in the renewable energy market was $559 billion in 2023, down from $771 billion in 2022, according to GlobalData, the Energy Monitor reported.

2. M&A - Solar Farms: Standard Solar has acquired an 84-megawatt community solar portfolio in Illinois. The seller was New Leaf Energy. Financial terms of the deal were not disclosed.

3. Funding: Clean Energy Fuels has invested $10 million into Rimere -- a startup that's is developing products to "reduce the impact of GHG emissions and deliver affordable zero-emission hydrogen to meet increasing global energy demands."

4. M&A - IoT and Remote Monitoring Software: HSL Compliance has acquired Plexus Innovation, a provider of IoT technology and remote monitoring solutions. The technology will enable HSL to "accurately monitor its clients’ individual water assets remotely, alerting them to issues as they arise and allowing the business’ expert engineers to take targeted action to resolve." Financial terms of the deal were not disclosed. This is HSL's fourth acquisition in less than two years. Earlier acquisitions involved Jordan Environmental, DMA Canyon and Chemical Treatment Services.

5. M&A - Compliance Automation: Private equity firm Edgewater Equity Partners has acquired Ascent Technologies, a developer of compliance automation solutions for financial services companies. Ascent Technologies, in turn, has acquired Waymark -- a UK-based provider of horizon scanning and compliance management workflow solutions. Financial terms for each deal were not disclosed.

6. M&A Excludes ESG Software Assets: Datasite is acquiring Ansarada Group for an implied equity value of $263.3 million, Business News Australia reported. Ansarada Group develops a SaaS platform that allows customers to "securely managing critical information, workflow and collaboration in high stakes processes like deals, risk, compliance, board governance and procurement." However, the M&A deal excludes Ansarada's early-stage ESG software business. As a result, Ansarada CEO Sam Riley has agreed to acquire those assets as a carveout for $500,000.

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. COP29 News: Track all COP29 news ahead of the conference here. On a related note, COP28 President Dr. Sultan Al Jaber recapped COP28 here.

D. Sustainability and Green Technology Conference Calendar

  1. Sustainable Buildings and RetrofitTech MENA Summit 2024 (February 13-14, Dubai, UAE)
  2. IoT Evolution 2024 (February 13-15, Fort Lauderdale, Florida)
  3. Verdantix Climate Summit North America 2024 (February 20-21, Washington, D.C.)
  4. World ESG Summit 2024 (February 20-22, Saudi Arabia)
  5. Step Conference 2024: Earth Track ( February 21-22, Dubai, UAE)
  6. 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: If you have news to share then please email me the details.
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