Here is today’s sustainable IT services news, research and analysis -- written for technology partners, green IT service providers, CIOs, chief sustainability officers (CSOs) and climate accounting professionals.
A. Sustainable Technology, Talent, Partnerships and Green IT Alliances
1. Board of Directors: Galvanize Climate Solutions, an investment firm, has appointed former U.S. Secretary of State John Kerry as co-executive chair.
2. AI and Data Center Energy Efficiency: HP Enterprise held its first ever artificial intelligence day on October 10, 2024,, touting its fanless direct liquid cooling system and a new server powered by a new AMD processor. Despite some pre-event hype, investors and analysts reacted tepidly to the event, SeekingAlpha reported.
3. AI Data Center Options: OpenAI is seeking data center alternatives to Microsoft Azure, The Information reported.
4. Next-Gen AI and Nvidia: The emergence of "reasoning AI" will require cheaper computing, Nvidia's CEO predicted.
5. Cloud Services and AI: Microsoft Azure is the first cloud to run Nvidia's Blackwell system, according to a Microsoft update.
6. Partnership - Consulting and ESG Software: RSM -- a provider of assurance, tax and consulting services for the middle market – has earned the new Workiva Carbon certification.
7. Training: Good.Lab is now an Approved Training Partner by EcoVadis, the provider of business sustainability ratings.
8. Software Platform: LTIMindtree, a global technology consulting and digital solutions company has launched an ESG software platform called Smart Spaces 2.0.
9. Software: Univers, a decarbonization software provider based Singapore, is pitching EnOS Ark as an all-in-one enterprise decarbonization SaaS platform.
10. Software Integration: FM:Systems, a workplace management platform provider owned by Johnson Controls, has integrated NetZero Advisor into the FMS:Insights platform. Customers can now "combine utilization data with energy usage data, revealing new opportunities to optimize energy consumption, reduce costs, and support sustainability goals," FM:Systems said.
11. Partnership - IT Consulting: Capgemini and Sustaira have inked a global alliance partnership focused on sustainability software and services.
12. Device Lifecycle Management: Assurant has opened a Device Care Center in Mt. Juliet, Tennessee (just outside of Nashville). The facility is a key hub for Assurant’s Device Lifecyle Solutions business, which in 2023 repurposed 22 million devices.
13. Growth - Business Energy Management: Budderfly, which provides energy as a service to restaurant chains, assisted living facilities, and retail franchises -- expects to generate nearly $200 million in annual recurring revenue (ARR) in 2024. We don't know how much of the growth involves organic revenue vs. M&A.
14. Partnership - Residential Solar and Energy Storage: Eaton and Lunar Energy are partnering to "simplify the installation and maximize the functionality of home energy storage and solar systems," the two companies said. The partnership integrates Eaton’s new AbleEdge smart breakers with the Lunar System to "make it easier for installers and homeowners to deploy solar and storage, manage loads, optimize costs and extend the life of the solar battery system," the two companies said. The joint solutions are expected to ship in early 2025.
15. Higher Education: Ahmedabad University has opened the Climate Institute to focus on three verticals: (1) energy and climate change, (2) cities and settlements, and (3) air and water. The institute plans to work with the University of Chicago, the London School of Economics, and Warwick University, among others.
16. EV Charging - Partnership Update: EVgo and Delta Electronics expanded their existing partnership, and plan to jointly develop next-generation EV charging solutions. The new chargers -- featuring enhanced reliability and energy efficiency -- should be deployed by the second half of 2026, the companies said.
17. EV Charging Infrastructure - Partnership: 3V Infrastructure and Camden Property Trust are partnering to deploy EV charging stations across portions of Camden’s property portfolio in the United States.
18. EV Charging - Home Installation Included: ChargePoint Home Flex, a residential EV charging system for home use, now includes "simple, affordable, and straightforward home installation," the company said.
19. EV Sales: GM expects its EV (electric vehicle) business to achieve profitability by Q4 of 2024, SeekingAlpha reported.
20. Tesla Robotaxi Event: Analysts were not impressed with Tesla's Robotaxi event on October 10, and the company's stock fell sharply, SeekingAlpha reported.
21. Licensing: OpenAI has signed a content licensing agreement with Hearst, the major media company. Financial terms of the agreement were not disclosed.
22. Rebrand: Kohler Energy has rebranded as Rehlko, and continues to focus on mission-critical infrastructure and sustainable energy systems.
B. Sustainability M&A, Climate Tech Investments, Funding and Green IT Business Launches
1. Funding: Scope3 has raised $25 million in new funding led by GV. The round included participation from existing investors Venrock, Room40 Ventures, and Craft Ventures, as well as from new investors Aperiam Ventures and Virgo Strategic Investments. Scope3 plans to "expand its work beyond the advertising ecosystem and tackle the pressing climate impact of the booming AI industry," the company said.
2. Funding: IN BOLD PRINT, a leading carbon management platform for businesses of all sizes, has raised $1 million in early stage funding. VC 414 led the round.
3. M&A - Carbon Accounting Software: ISS-Corporate has acquired SustainaBase, a Florida-based provider of carbon accounting and data management software. Financial terms were not disclosed.
4. M&A - Software: Benchmark Gensuite, a provider of Environmental, Health, and Safety (EHS) and sustainability software, has acquired Anvl, a provider of worker safety software. Private equity firm Vista Equity Partners owns a minority stake in Benchmark Gensuite.
5. M&A - Consulting: CBRE Group has acquired NRG Energy's renewable advisory group. The focus: Brokering and advising on renewable energy transactions involving community solar, Virtual Power Purchase Agreements, and other opportunities. Financial terms of the deal were not disclosed.
6. M&A - Services: Terex has acquired Environmental Solutions Group from Dover for $2 billion. The deal's value is roughly 8.4 times estimated EBITDA for 2024.
7. M&A - Data Center Services: NV5 Global has acquired two domestic data center commissioning and energy management companies -- Kisebach Consulting and Senergy BCS -- to "further accelerate NV5’s strong organic growth in the data center market." Senergy BCS delivers data center HVAC and controls commissioning for state, federal, and private sector data center facilities in the United States and Canada. Kisebach Consulting provides energy engineering and mission critical building systems commissioning for data center facilities across the United States.
8. 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. COP29 - Human Rights: Western nations should use this year's COP29 climate talks in Azerbaijan to pressure Baku over its "vicious crackdown" on journalists, opposition figures and activists, according to Human Rights Watch and Freedom Now, as reported by Politico. Amnesty International issued a similar statement.
2. United States - Data Center Energy Payment Debate: A showdown involving Big Tech companies -- such as Amazon, Google, Meta and Microsoft -- vs. an Ohio utility could shape the way data center companies pay for power across the United States, Reuters reported. AEP Ohio wants data centers and cryptocurrency miners to provide pre-payments and other financial assurances for their massive energy needs, the report said. Data center businesses are battling that proposal.
3. Canada - Carbon Tax Debate: Prime Minister Justin Trudeau's carbon tax plan is triggering fresh debate from conservatives and liberals, Bloomberg reported.
4. European Union Policy Challenges: European Union carbon emission rules impose 40% higher costs on the car-making industry at a time when customers are reluctant to buy expensive electric vehicles, Stellantis CEO Carlos Tavares asserts, according to Reuters.
5. United Kingdom - Energy Storage Strategy: The UK has rolled out funding for renewable energy storage projects.
6. France - Energy Transition Financing: France should seek more European Union funds for its green transition, Energy Minister Agnes Pannier-Runacher told a news conference, noting that other countries were better at doing so, Reuters reported.
7. Greece - Energy Transition Plan: Greece has set more ambitious targets for expanding solar and wind power to cut greenhouse emissions by 2030 under a revised energy and climate plan presented on October 11, 2024, Reuters reported.
8. Asia - Power Strategy: Amazon prefers to leverage wind and solar energy rather than nuclear power in Asia, Bloomberg reported.
D. Sustainability and Green Technology Conference Calendar
- Industrial Transformation Asia-Pacific 2024 (October 14-16, Singapore)
- Sustainable Brands SB 2024 (October 14-17, San Diego, California)
- Textile Printing & Sustainability Conference (TPS) 2024 (October 15-16, Düsseldorf, Germany)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
