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. CSO Exits: Marjo Nurmi, Kamux Corp.'s chief people and sustainability officer, plans to leave Kamux in September 2024 to pursue a startup opportunity. Kamux is searching for Nurmi's successor.
2. Data Center: Aurum Equity Partners will spend roughly $400 million to build a green data center in Hyderabad.
3. Executive Leadership - Power Management Technology: Eaton has named Paulo Ruiz to succeed Craig Arnold as CEO in June 2025. The gradual succession plan involves Ruiz becoming president and COO, effective September 2, 2024. Eaton in early 2024 announced a restructuring plan that involved potential acquisitions.
4. AI Lawsuit: Â Software maker Anaconda has sued Intel in Delaware federal court, accusing the chipmaker of misusing its software for developing artificial-intelligence platforms, Reuters reported. Related: Generative AI lawsuit timeline.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Funding - Supply Chain Risk Management Software: Bendi Software has raised £815,000 in funding. The company develops software to help customers find and manage ESG risks in their supply chains.
2. Funding - Carbon Capture Technology: CarbonQuest, a distributed carbon capture technology provider, has raised Series A funding from Riverbend Energy Group. Dollar figures were not disclosed.
3. M&A Confirmed - HVAC Consultancy: Johnson Controls has acquired Password Services, a specialist HVAC service and solutions provider, the buyer confirmed after about 24 hours of media rumors. Financial terms of the deal were not disclosed.
4. M&A - Renewable Energy: LS Power will acquire a renewable energy business from Algonquin Power & Utilities for up to $2.5 billion. The deal involves $2.28 billion in cash at closing and up to $220 million in an earn out -- which depends on the financial performance of certain wind assets.
5. 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. Europe - Debt and Carbon Emissions: Europe’s biggest carbon polluters are paying increasingly higher interest rates on their bonds, Dutch central bank data reveals, according to Bloomberg.
2. Australia - Reinsurance Market: The risks from the growing number of natural disasters offer Australia’s largest pension funds a chance to boost returns, Bloomberg reported. The strategy involves potential investments in reinsurance or disasters, the report said.
3. Australia - Carbon Credit Fund: BHP, Rio Tinto and Qantas will invest a total of A$80 million ($52.7 million) as early-stage investors in an Australian carbon credits fund -- which aims to invest in land reforestation projects, Reuters reported.
D. Sustainability and Green Technology Conference Calendar
- XeroCon Nashville 2024Â (August 14-15, Nashville, Tennessee)
- World ESG Summit Dubai (August 20-21, Dubai, UAE)
- Tennessee Sustainability Conference 2024Â (Gatlinburg, Tennessee, August 20-23)
- VMware Explore 2024Â (August 26-29, Las Vegas, Nevada)
- Complete Calendar of Sustainability Conferences
E. Previous Updates & Future News
- Did You Miss Yesterday's Daily Update?: Here is our previous sustainability, green IT and renewable energy news for technology partners.
- Future Updates: If you have news to share then please email me the details.
