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. IT Consulting and Services: Capgemini revenue was €11,138 million in the first half of 2024 , down 2.5% from the first half of 2023. Still, Capgemini said "traction for our value-added services in the fields of cloud, data & AI, sustainability, and intelligent industry remains strong."
2. Artificial Intelligence: Amid growing energy consumption concerns involving AI data centers, Microsoft continues to pitch AI as a potential solution for multiple energy challenges.
3. Partnership - IT Consulting: DBS and Deloitte launched a Sustainability Accelerator Tool for small and medium enterprises (SMEs) in Singapore, The Business Times reported. The survey tool allows SMBs to identify and address decarbonization gaps, the companies said.
4. Partnership - Waste and Data Management: Reworld, a sustainable waste solutions company, will leverage Genpact's data, technology, and domain expertise to "streamline its finance, accounting, sourcing, procurement, and IT functions, significantly enhancing efficiency and business transformation," the companies said.
5. Talent - Executive Search Expert:Â ON Partners, a pure-play executive search firm has hired Chris Clements as a new partner. His expertise spans the energy transition, climate tech, industrials, and software sectors.
6. Talent - Investment Firm: Montauk Climate, an investment firm, has hired Vista Equity Partners and TPG veteran Kirk Hourdajian as partner and head of venture.
7. Executive Leadership - Financial Services: JPMorgan Chase has named Chuka Umunna its global head of sustainable solutions, BankingDive reported based on a LinkedIn post.
8. Executive Leadership - EV Charging Networks: Tesla veterans Martin Sukup and Jeff Inhofer in July 2024 joined EVgo as executive VP of engineering and VP of EV supply equipment (EVSE) engineering, respectively. And in August 2024, GM veteran Alex Keros will join as senior VP of product. EVgo in early 2024 named Chief Operating Officer Dennis Kish to the president post, while Chief Technology Officer Ivo Steklac and Chief Revenue Officer Tanvi Chaturvedi departed the company.
9. EV Charging Stations: ChargePoint now offers more than one million charging locations across public, private and roaming ports in North America and Europe, the company said. The milestone surfaced after ChargePoint suffered layoffs in the first half of 2024.
10. Tesla Layoffs & Government Assistance: The U.S. Department of Labor will award more than $1 million to Texas, LMT reported, to provide employment and training services for people affected by Tesla layoffs in Austin, Texas.
B. Sustainability M&A, Investments, Funding and Green IT Business Launches
1. Potential IPO - Quantum Computing Business: Honeywell International is considering an IPO of its Quantinuum business as soon as 2025, Bloomberg reported. The potential valuation is $10 billion, the report said.
2. Funding - AI and Energy Grid Modernization: Splight has raised $12 million in seed funding led by noa (formerly A/O). Additional investors included EDP Ventures, Elewit, Draper Cygnus, Draper B1, Ascent Energy Ventures, Fen Ventures, Reaction Global, Barn Investments, and the UC Berkeley Foundation, among others. Splight develops AI software that optimizes the performance of clean energy across power grids.
3. Funding Strategy: Singapore data center upstart Sustainable Metal Cloud (SMC) is raising about $950 million in fresh funds, seeking to tap the global artificial intelligence boom to spur its growth. SMC also is an Nvidia partner.
4. Investment - Sustainable Aviation Fuel (SAF): Airbus has invested in LanzaJet. Financial terms of the investment were not disclosed.
5. M&A - HVAC: Partners Group has acquired Eteck, a provider of sustainable decentralized heating and cooling solutions in the Netherlands. The seller was Infracapital.
6. M&A - Asia Pacific Offshore Wind Energy Services: Cyan Renewables has acquired MMA Offshore for A$1.1B -- or roughly US$702 million. The deal's valuation was roughly 6.2x the EV/EBITDA ratio.
7. M&A - Renewable Energy: VH Global Sustainable Energy Opportunities, a London-listed investment company, acquired seven solar and two wind assets across Europe, with a total installed capacity of 248.4 MW, SEN reported.
8. M&A - Modular Data Center Technology: Nscale has acquired Kontena, a provider of high-density modular data centers and AI data centre solutions, Techerati reported.
9. M&A - Solar Power Projects: Mitsubishi Heavy Industries America (MHIA), a subsidiary of Mitsubishi Heavy Industries (MHI), has acquired a three utility-scale solar power projects in Southwestern Pennsylvania from Oriden, an MHI Group company based in Pittsburgh, this report said.
10. M&A: - Renewable Energy: TotalEnergies acquired 50% of OranjeWind, a 795 MW offshore wind farm under development in the Netherlands, ESG News reported. The seller was German power producer RWE.
11. M&A - Financial Services and Consulting: Riveron, backed by Kohlberg & Company, has acquired Yantra, a NetSuite partner focused on CFOs. Riveron's consulting expertise includes ESG capabilities. Financial terms of the deal were not disclosed.
12. M&A: Compliance software developer Registrar, backed by Paine Schwartz Partners, has acquired Foodsteps -- which helps food businesses reduce the environmental impact of their products. Financial terms of the deal were not disclosed.
13. 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. India - ESG Consulting: ESG firm Uniqus Consultech has launched itsTech Consulting practice.
D. Sustainability and Green Technology Conference Calendar
- XeroCon Nashville 2024 (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.
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