Cloud storage provider Wasabi Technologies, through a partnership with Zero Circle, has introduced technology that allows customers to estimate the CO2 footprint of their Wasabi storage region.
Wasabi, founded in 2017, is based in Boston, Massachusetts. Wasabi develops "hot" cloud storage technology. Wasabi strives to develop higher-performance, lower-cost options than cloud storage services built into Amazon Web Services (AWS), Google Cloud and Microsoft Azure. The company raised $140 million in Series D funding in December 2022.
David Boland, VP of cloud strategy, Wasabi Technologies
Zero Circle, founded in 2021, is an early stage B2B company. Their sustainability reporting tool allows customers to "track, analyze and report sustainability performance to your stakeholders, bringing transparency to your customers and investors," Zero Circle asserts. The company's software also automates financial and sustainability KPIs to incentivize green financing.
Together, Wasabi and Zero Circle have partnered to "develop a suite of sustainability-focused solutions for cloud storage that give businesses the data they need to make decisions that reduce their environmental impact."
Partner Program Opportunities?: Wasabi has a partner program that serves MSPs (managed IT service providers), resellers and integrators, OEM partners and technology alliance partners. We're checking to see if the Wasabi sustainability tools are multi-tenant -- which would allow MSPs to estimate carbon emissions for multiple customers from a single dashboard.
Survey: Sustainable IT Services Gain Importance
According to the Wasabi 2024 Global Cloud Storage Index, sustainability ranks among the top three most important considerations (trailing only integrations and data protection/security) for cloud storage service buyers. (See graphic below.)
Source: Wasabi Technologies
In a prepared statement about the partnership, David Boland, VP of cloud strategy at Wasabi, said: “Partnering with Zero Circle underscores Wasabi’s dedication to providing top-tier, sustainable cloud storage solutions. Zero Circle's carbon footprint calculation has already enabled Wasabi, our partners, and customers to gain a deeper understanding of our environmental impact. By integrating this solution into our supply chain, we are amplifying these benefits for everyone involved.”
Added Hemanth Setty, founder and CEO of Zero Circle: "Announcing our collaboration with Wasabi marks a significant step in advancing environmental sustainability within the cloud storage sector. This partnership leverages our combined strengths and underscores our mutual dedication to fostering a more sustainable future, paving the way for innovative and groundbreaking solutions.”
Hemanth Setty, founder and CEO, Zero Circle
Longer term, the two companies together plan to explore "renewable energy procurement and carbon offset programs in an effort to further reduce environmental impact of cloud storage," the duo said
Carbon Accounting and Cloud Software: Growing, Crowded Market
The global carbon accounting software market will reach $100.84 billion in 2032, up from $18.52 billion in 2024, according to Fortune Business Insights. That's a 23.6% compound annual growth rate, the market research firm said.
Still, that anticipated growth could trigger intense market competition. Among the key moves to note:
March 2024:Hewlett Packard Enterprise (HPE) invested in Greenly, which develops carbon accounting software for small and midsize businesses. HPE sees Greenly's software as an opportunity to assist enterprise customers with sustainable IT infrastructure initiatives.
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