NTT, the global IT consulting and IT services firm, has launched NTT Green & Food Corporation, a company using artificial intelligence (AI), Internet of Things (IoT), and other information communications technology (ICT) to "develop more efficient and sustainable food production systems," according to NTT President and CEO Akira Shimada (pictured, top of page).
The new business aims to achieve revenues of about $70 million in about five years, and over $200 million in around a decade, the company noted.
The new organization, a joint venture with Regional Fish Institute, initially aims to "solve future food shortages while mitigating negative environmental impacts associated with onshore seafood production," the companies said.
Key focus areas include the:
- Production and sale of algae; which then supports
- Production and sale of seafood; and
- development and provision of a sustainable land-based aquaculture system.
Regional Fish Institute was not quoted in the press release. According to the organization's website, the institute's mission is to "bring Japanese aquaculture to the next level. By installing our core technology along with digital technology such as AI/IoT, we aim to make aquaculture smart, attractive, and sustainable."
NTT: Additional Sustainability, Green IT and ESG News
NTT and its sister companies have inked multiple sustainability partnerships in recent months. Example developments and milestones include:
Business Focus, Scale
NTT Group, headquartered in Tokyo, Japan, serves customers in over 50 countries.
The company also operates NTT Data Business Solutions, which focuses on the SAP application sector. For its fiscal year ended March 31, 2023, the data business solutions organization generated:
- Annual revenue was €$1.42 billion (US$1.53 billion), up 14.7% compared to the previous year.
- EBITDA was €$99.2 million (US$107.2 million), up 56.2% compared to the previous year.
- Annual revenue will likely grow 4% to 6% in the current year.