Here is today’s sustainable IT services and climate tech news, research and analysis -- written for technology partners, green IT service providers, CIOs, chief sustainability officers (CSOs) and climate accounting professionals.
A. Sustainable IT, Talent, Partnerships and Green Tech Alliances
1. Carbon Accounting Software: Workiva's carbon accounting software, based on the $100 million Sustain.Life acquisition earlier this year, is off to a fast start in the market, according to Workiva's Q3 2024 earnings call with Wall Street analysts. We'll share more perspectives soon.
2. Financial Results - Carbon Recycling Technology: LanzaTech Global, a carbon recycling company, announced weak financial results for Q3 of 2024. LanzaTech missed its financial targets "due primarily to a timing delay related to a LanzaJet sublicensing event we were expecting, and to a lesser degree, softer ethanol pricing in a key fuel trading market of ours,” CEO Jennifer Holmgren said.
3. Financial Results - EV Charger Networks: Blink Charging revenue was $25.2 million in Q3 of 2024, down 41.9% from Q3 of 2023. The company emphasized that it expects to achieve positive adjusted EBITDA in the second half of 2025. Amid the sales challenges, Blink Charging announced layoff plans in September 2024. The job cuts arrived ahead of a planned CEO transition. Blink Charging Chief Operating Officer Mike Battaglia will succeed President and CEO Brendan Jones on February 1, 2025, the EV charging company announced in August 2024.
4. Financial Results - Small Modular Reactors: NuScale Power, a provider of SMR nuclear reactors, reported weak financial results for Q3 of 2024 but sees opportunity in the AI data center market.
5. Executive Leadership - Power Management: Eaton has promoted senior VP Omar Zaire to president, Corporate and Electrical Sector for EMEA (Europe, Middle East and Africa) region. Zaire succeeds Tim Darkes, who plans to retire in 2025. Eaton restructured in early 2024 and is seeking to make potential acquisitions, the company said at the time. Eaton, based in Dublin, Ireland, specializes in power management solutions that improve energy efficiency and uptime in buildings, industrial facilities, data centers and homes. The company's sustainability strategy includes a heavy focus on data center solutions for partners and customers.
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. M&A - Renewable Energy and 5G: Motive Companies, a provider of renewable energy and infrastructure solutions for industrial and commercial applications, has acquired GXC, a provider of private cellular network solutions for enterprises. Financial terms of the deal were not disclosed.
2. 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. United States - Climate Laws: The U.S. elections included votes on several state-level climate laws. Washington state voters re-approved an existing climate law, which requires emissions in the state to decline 95% from 1990 levels by 2050, The Wall Street Journal noted. And in California, a proposal to borrow $10 billion for climate resilience projects garnered strong support, the Journal wrote based an Associated Press report.
2. Australia Regulations: The Australian Securities and Investment Commission (ASIC) released its draft regulatory guidance for stakeholders of the soon-to-be-introduced sustainability reporting regime.
D. Sustainable IT and Green Technology Conference Calendar
- COP29 (November 11-24, Baku, Azerbaijan)
- GreenBuild 2024 International Conference and Expo (November 12-15, Philadelphia, Pennsylvania)
- Wisconsin Sustainable Business Council 2024 (November 12-13, Milwaukee)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
- Did You Miss Yesterday's Daily Update?: Here is our previous sustainable IT, climate tech and renewable energy news for technology partners.
- Future Updates: If you have news to share then please email me the details.
