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. Data Center Climate Alliance: Multiple companies -- Members of the iMasons Climate Accord are calling on all suppliers serving data centers to "support greater transparency in Scope 3 emissions as part of broader efforts to reduce the industry’s carbon footprint," the oganization said. Participants in an open-letter effort include AWS, Digital Realty, Google, Meta, Microsoft and Schneider Electric.
2. Partnership - AI Data Centers: CoreWeave will leverage Bloom Energy fuel cell technology to generate on-site power at data center owned by Chirisa Technology Parks in Volo, Illinois. Bloom’s fuel cells are set to be commissioned in Q3 2025, the announcement said.
3. Talent - IT Infrastructure: Claudia Contreras-Gomez, most recently executive director of global sustainability services at Lenovo, has exited the technology company, according to a note she shared on LinkedIn. We've reached out to Contreras-Gomez to ask about her potential career plans, and to Lenovo to see if a successor has been named. Lenovo has an expansive sustainability strategy that includes channel partners.
4. Talent - Consulting: PwC's U.S. business has named Dan Priest as its chief AI officer, and Ellen Walsh as sustainability executive sponsor to "support clients in a holistic approach to sustainability."
5. Talent - EVs and Consulting: WSP has hired Phoenix Motorcars and Proterra veteran Mike Finnern as senior VP and national zero-emissions fleet lead. Finnern and the WSP team will help clients who are "managing complex challenges in the quickly evolving ZEV (zero-emission vehicles)Â fleets market."
6. Consulting - Financial Services: Eight Advisory has launched an Environmental, Social, and Governance (ESG) and Sustainability Services practice. The effort involves (1) sustainability strategy services; (2) M&A due diligence that checks the ESG credentials of acquisition targets; and (3) regulatory services such as EU taxonomy alignment.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Silicon Valley Perspectives: Trump's selection of JD Vance as running mate will likely fuel momentum from tech leaders and startups frustrated with Biden administration, The Wall Street Journal reported. Vance is a former venture capitalist who understands the startup sector well.
2. Funding - Green Hydrogen: 3MÂ has invested in Ohmium International, a developer of electrolyzer systems for green hydrogen production. 3M made the investment through the TPG Rise Climate fund. Roughly 30 blue chip companies participated in Ohmium's Series C funding round, which raised $250 million. 3M did not disclose the size of its investment.
3. Funding - Energy Transition: LevelTen Energy, a provider of transaction infrastructure for the energy transition, has raised $65 million in Series D funding. B Capital led the round. Additional participants included Aster, Constellation, Equinor Ventures, Google, Intercontinental Exchange, Microsoft’s Climate Innovation Fund, NGP, Prelude Ventures, and ZOMA Capital, among others.
4. Investment - ITAD Evolution: Microsoft’s Climate Innovation Fund has invested in Cyclic Materials, a circular supply chain company for rare earth elements and critical metals found in computer hard drives. Cylic Materials allows IT asset disposition (ITAD) companies to separate a portion of hard drives for rare earth recovery, while retaining the rest of the hard drives for their traditional process.
5. M&A: nVent Electric is acquiring Trachte of Madison, Wisconsin for $695 million. The deal "strengthens nVent’s position with the electrification of everything in high-growth verticals including power utilities, data centers and renewables," the buyer said. Trachte, backed by 500 employees provides control building solutions. Trachte estimates 2024 revenues to be approximately $250 million. The deal's effective enterprise value multiple is roughly 12x anticipated Trachte 2024 adjusted EBITDA.
6. 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 - Ohio and Green Energy: Trump’s running mate, Senator JD Vance, has grown more critical of renewable electricity and climate change even as his home state of Ohio embraced solar power and clean-tech manufacturing, Bloomberg noted.
2. United States - Offshore Wind Farm Concern: The Vineyard Wind offshore wind project off the coast of Massachusetts is shut down until further notice while authorities investigate a turbine blade failure that caused debris to wash up on beaches, Reuters reported.
3. United States - University Power: Bentley University plans to purchase electricity generated by the Kibby Wind Farm located in Maine. The agreement seeks to power 100% of campus operations through the end of 2027. Bentley's Bentley's Sustainability and Climate Action Plan, commits to carbon neutrality by 2030. Â
4. United States - Solar Panel Policy: A group of U.S. solar manufacturers wants the Biden administration to toughen rules governing a tax credit for solar project developers, Reuters reported. Some solar product manufacturers are earning the tax credit even if they use foreign components, the group alleges.
5. United Kingdom - Green Energy Financing: Chris Skidmore, the former UK Conservative energy minister who quit over oil and gas drilling, has opened an investment bank to help fund green-energy startups, Bloomberg reported.
6. Spain - Green Hydrogen Strategy: Spanish Prime Minister Pedro Sanchez announced a plan worth 2.3 billion euros ($2.5 billion) to boost the country's transition to clean energy, Reuters reported, including subsidies for green energy industries and hydrogen made from renewable power.
7. China and Saudi Arabia - Solar Deals: Two Chinese solar firms signed deals worth some $3 billion to build solar plants in Saudi Arabia, highlighting the oil-rich kingdom’s campaign to boost renewable power production, Bloomberg reported. TCL Zhonghuan Renewable Energy Technology, the world’s second-largest maker of solar wafers, said will partner with the Saudi sovereign wealth fund Public Investment Fund and Vision Industries Co. on the effort, the report said.
D. Sustainability and Green Technology Conference Calendar
- ITAD 2024Â (July 23-24, Miami Beach, Florida)
- XeroCon Nashville 2024Â (August 14-15, Nashville, Tennessee)
- World ESG Summit Dubai (August 20-21, Dubai, UAE)
- Tennessee Sustainability Conference 2024 (Gatlinburg, Tennessee, August 20-23)
- VMware Explore 2024 (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.
