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Sustainability News 10 April 2024: Databricks, The Bulb, WSP Global, Zanders, More

April 10, 2024 by Joe Panettieri

Here is today’s sustainability news, research and analysis for technology partners; renewable energy and green IT service providers; Today's sustainability news also involvesmanagement consultants; CIOs; chief sustainability officers (CSOs), c-suite members and climate accounting professionals.

A. Sustainable Technology, Talent, Partnerships and Green IT Alliances

1. Software - Big Data and Energy Management: Databricks has unveiled the Data Intelligence Platform for Energy. The software, built on a data lake, "enables enterprises to harness vast streams of energy data and develop generative AI applications without sacrificing data privacy or their confidential IP." The software can help partners and customers to "gain a holistic view into their operations in real time to preemptively address maintenance needs, reduce unplanned downtime, accurately forecast energy generation, and take action for a more efficient, sustainable future," Databricks said.

2. Data Centers - AI and Power Demand: U.S. electric utilities predict a tidal wave of new demand from data centers powering technology like generative AI, with some power companies projecting electricity sales growth several times higher than estimates just months earlier, Reuters reported.

3. Partnership - Restaurant Energy Management: Craveworthy Brands -- which owns various restaurant chains -- will leverage Budderfly's technology to "drive down energy consumption at Cravewothy’s corporate and franchise-owned restaurants," the companies said.

4. Partnership - Carbon Monitoring: Mediavine and 51toCarbonZero are partnering to help companies determine their carbon footprints.

5. Consulting - Growth: Keep an eye on The Bulb, a sustainability consultancy that appears to be growing rapidly...

6. Annual Sustainability Report: nVent -- which specializes in electrical systems -- has unveiled its 2023 sustainability report.

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

1. Funding - Direct Air Capture (DAC) Technology: Mission Zero has raised £21.8 million (USD$27.7 million) in a Series A funding to scale its Direct Air Capture (DAC) carbon removal technology.

2. Investment: Magnolia Sustainable Energy Partners of Japan has invested in Strategic Biofuels, a sustainable aviation fuels (SAF) project developer. Magnolia was formed by Sumitomo Corporation of Americas (SCOA) and JX Nippon Oil & Gas Exploration. Strategic Biofuels plans to expnd its Louisiana Green Fuels (LGF) project, an ultra-low carbon negative SAF plant in Caldwell Parish, Louisiana.

3. M&A - Consulting: WSP Global has acquired 1A Ingenieros, a consulting firm that serves power and energy customers in Spain. 1A's expertise spans renewable energy, electricity distribution and transportation, sustainable mobility, the industrial sector, and the environment. Financial terms of the deal were not disclosed.

4. M&A - Financial Services Software: Linedata has acquired DreamQuark, a software developer in the financial services market. DreamQuark's software supports "enhanced advising, strengthened compliance, smart document retrieval, and efficient acquisition of ESG data, all while ensuring proper management of AI-related risks," Lindata said. Financial terms of the deal were not disclosed. 

5. M&A - Financial Services Consulting: Zanders has acquired RiskQuest, a risk consultancy firm in the Netherlands. RiskQuest's expertise spans credit risk, ESG and financial economic crime. The acquired business has roughly 60 employees. Zanders now has roughly 450 employees overall. Financial terms of the deal were not disclosed. Zanders has M&A experience. The company acquired Optimum Prime in January 2024 and Fintegral in 2023.

6. M&A - Consulting and EV Infrastructure: Adler and Allan has acquired Utility Line, an Independent Connection Provider (ICP) and grid connection specialist focused on commercial electric vehicle (EV) infrastructure. Utility Line, founded in 2021 offers a 'turnkey' solution for specialised electric vehicle charging infrastructure and grid connections, the seller said. Adler & Allan of Harrogate, England, is a consulting firm that offers environmental advisory, maintenance and management services. Financial terms of the deal were not disclosed.

7. Complete M&A List: Here's our database of all M&A deals involving green IT and renewable energy buyers, sellers and investors.

C. Regional and Global Sustainability Policies and News

1. Carbon Credits: The world’s main quality-control body for corporate climate targets will let companies use carbon credits to reduce the full scope of their emissions, relaxing earlier guidance and galvanizing a controversial corner of green finance, Bloomberg reported. The United Nations-backed Science Based Targets initiative said it will allow the use of credits to cut emissions from value chains, otherwise known as Scope 3, according to a statement on its website, Bloomberg noted.

2. Europe - Swiss Concerns:  Influential newspapers in Switzerland criticized a climate change ruling against the Swiss government by Europe's top human rights court, saying it risked undermining democracy and the political clout of environmental groups, Reuters reported.

3. China - Infrastructure Upgrades: China will raise almost 300 environmental and safety standards by 2025 as part of a government program to encourage upgrades of older machinery, according to an action plan jointly issued by seven ministries, Bloomberg reported.

D. Sustainability and Green Technology Conference Calendar

  1. Green Media Summit 2024 (April 11, New York)
  2. Earth Charter Conference 2024 (April 12-14, Winter Park, Florida)
  3. BFA Sustainability Summit (April 14, Birmingham, United Kingdom)
  4. The World Future Energy Summit 2024 (April 16-18, UAE)
  5. Apidays Singapore 2024 (April 17-18, Signapore)
  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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