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Sustainability and Green IT Services News for Technology Partners: 22 December 2023

December 22, 2023 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. Chief Sustainability Officers: Volvo Cars has hired Electrolux veteran Vanessa Butani as head of global sustainability. And at Electrolux, the appliance maker has promoted Elena Breda to chief technology and sustainability officer. Related: Search our global database of chief sustainability officers here.

2. CES 2024 Conference - Electric Mobility: Valeo will demonstrate green mobility innovations at the conference. For instance, a new software solution will be able to "predict and drive the most efficient thermal management strategies" for electric vehicles, the company said. Related: See all of our CES 2024 sustainability news here.

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

1. Funding - Carbon Credits: Canada Growth Fund (CGF) will invest $200 million into Entropy Inc., a Calgary-based developer of carbon capture and sequestration projects. The investment is coupled with a fixed-price carbon credit purchase agreement of up to one million tonnes per annum (TPA).

2. Funding - Storage Startup: UltiHash, which focuses on higher-performance and sustainable data storage, has raised $2.5 million in pre-seed funding. Inventure led the round. UltiHash’s technology can decrease customers’ storage needs by up to 50%, helping them save millions on unnecessary storage and network costs, the company asserts.

3. M&A - Renewable Energy Management Software: Kraken has acquired Sennen, a provider of software for the delivery and operation of large-scale renewable energy generation. Kraken's software provides analytics, real-time monitoring, optimization and control of energy devices, such as solar and wind generation, batteries, heat pumps and electric cars. Sennen's cloud-based software provides oversight, maintenance and daily operation of renewable energy projects. Financial terms of the deal were not disclosed.

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. United States - Offshore Wind:  The U.S. offshore wind industry is eying a brighter 2024, with work expected to start on several projects following a year marked by stalled developments and billions of dollars in write-offs, Reuters reported.

2. United Kingdom and Germany - Wind Power: Wind power output reached a record high in both Germany and the UK on December 21, 2023, as a storm covering northern Europe boosts generation across the region, Bloomberg reported.

3. European Union - Regulations: The European Council and the Parliament reached a provisional agreement on the Corporate Sustainability Due Diligence Directive (CSDDD), JD Supra reported. The CSDDD requires that certain EU-based and non-EU-based companies conduct broad human rights and environmental due diligence across their operations and supply chains, the report noted.

D. Sustainability and Green Technology Conference Calendar

  1. Sustainability Forum Middle East (SFME) 2024 (January 8-9, Bahrain)
  2. CES 2024 (Las Vegas, Nevada)
  3. European Chief Sustainability Awards (January 15, Davos)
  4. Intersolar North America and Energy Storage North America 2024 (January 17-19, San Diego, California)
  5. Recycling, Circular Design & Sustainable Sourcing for EV Batteries & Carbon Neutral Vehicles USA Congress 2024 (January 23-25, Detroit, Michigan)
  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: Send us your news tips.Please email me the details.

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