Sustainable Tech Partner

11/07/2024

Status Update: Johnson Controls, while hunting for an executive to succeed current George Oliver, continues to gain momentum in the and technology markets.

Much of that success involves solutions and direct sales rather than -- though the company has 10,000 partners.

See our homepage for a detailed update on the business, direct vs indirect revenue mix, and CEO search.

11/05/2024

Good Tuesday morning. Here is today's and news for technology partners. Updates for November 5, 2024 include:

1. Executive Leadership - Smartphones: Sustainable maker Fairphone of Amsterdam has hired Chandler Elizabeth Hatton as chief technology officer (CTO). The move comes roughly three months after the company hired Raymond van Eck as CEO.

2. Executive Leadership - Smart Buildings: Johnson Controls has named Richard Lek as VP and president, Building Solutions Europe, Middle East, Africa, and Latin America (EMEALA). Lek succeeds Marc Vandiepenbeeck, who remains executive VP and CFO of Johnson Controls.

3. Remanufactured Laptops and Clean Water: has partnered with an international charity to help deliver clean, safe water in countries low on the UN Development Index around the world, the firm said. Special thanks to Hamish Hallett of for the info.

4. IT Asset Disposition (ITAD): Teqtivity is focusing its IT asset management ( ) services on sustainability opportunities. The effort includes automated asset monitoring, proactive maintenance scheduling to extend device lifecycles, and integration with certified IT asset disposition ( ) partners.

5. Electronics - Circular Economy: -- a retail chain that allows customers to buy, sell and trade their electronic devices -- has opened its 50th location. The retail chain expects to span nearly 30 U.S. states by the end of 2024, Chain Store Age reported. Thank you to Lynnea Rogers of Fransmart for the info.

6. Google Partner: Blyncsy, a Bentley Systems company, has achieved the Google Cloud Ready - Sustainability designation in the Google Cloud Partner Advantage Program.

7. AI Chip Orders: NVIDIAis shifting orders from Supermicro Computer to other suppliers amid accounting question marks, reported.

8. Research - Business Travel Benchmarking: Organizations need to take additional steps to materially reduce their business travel emissions, according to the GBTA | Global Business Travel Association and Accenture.

9. Meta AI Data Center Plan - Nuclear Setback: The plan to build an AI in the U.S. that runs on were thwarted in part because a rare species of bee was discovered on land earmarked for the project, The Financial Times reported. Meta is parent to Facebook.

10-. M&A - Hospitality Services: Hotel sustainability specialist Greengage | B Corp™ Solutions of Buckinghamshire, England, has acquired Responsible Futures to expand its 360 consulting division.

Deeper details are on our homepage.

11/04/2024

Talent, Executive Leadership: maker Fairphone hires Chandler Elizabeth Hatton as chief technology officer (CTO). The move comes roughly three months after the company hired Raymond van Eck as CEO.

Sustainable smartphone maker Fairphone hires Chandler Elizabeth Hatton as chief technology officer. Can new CTO & recent CEO hire drive innovation & green mobile device adoption?

11/04/2024

Hype involving for faces reality check. Federal regulators block proposal involving and . Result: stocks under pressure. Cloud & data center providers could face challenges as they hunt for new power sources.

Nuclear energy may power some AI data centers from Amazon Web Services (AWS), Microsoft Azure, Google Cloud and rivals. Here's a global nuclear power progress report, challenges & discussions about safety concerns.

11/04/2024

Surprise change at Schneider Electric. Details: https://sustainabletechpartner.com/news/schneider-electric-replaces-ceo-seeks-to-accelerate-sustainable-it-data-center-and-energy-transition/

Schneider Electric's board replaces CEO Peter Herweck with data center & energy management veteran Olivier Blum; seeks to accelerate business ex*****on.

08/20/2024

Seeking Acquisitions: wants to acquire businesses that focus on building technologies. Key focus areas include & .

In a prepared statement, Kontrol CEO Paul Ghezzi said: “During the second quarter we significantly improved the balance sheet, grew our cash position and closed out the secured debt facility. We are now in a position to focus on growing our core business both organically and through strategic acquisitions.”

Ideal acquisition targets typically generate:

A. $1 million to $5 million in revenues;

B. up to 50% in recurring revenues; and

C. gross margins in the range of 40% to 50% with an established customer base, Kontrol said.

Want more details? Check our homepage for the complete story.

08/19/2024

The Accelerator 4.0 cohort features 21 focused on "the needs of enterprises looking to accelerate their energy transition through emerging technologies."

The cohort has six key areas of focus:

1. Amazon's own operations.

2. solutions for clean energy.

3. Water tech acceleration.

4. .

5. modernization and security.

6. Alternative fuels.

The 21 participating startups to know include:

1. BET MOTORS

2. BlocPower

3. ChargeWheel

4. DeepIQ

5. EH GROUP

6. Electriq Global

7. Faradai

8. Genesis Systems® (USA) - Water Your Way

9. Moment Energy

10. NET2GRID

11. PolyJoule, Inc.

12. QEA Tech

13. Relyion Energy Inc

14. SafeMode

15. Salient

16. Splight

17. Subeca

18. Syzygy Plasmonics

19. Teknobuilt

20. Tyromer Inc.

21.

What does each company do? See our home page for complete article tracking company profiles, focus areas, year founded, headquarter location and more.

08/19/2024

Good Monday morning. Here is today's news for technology partners. Our updates for August 19, 2024 include:

1. IT Services - Carbon Neutral: Ltd, an IT service provider in the UK, has achieved status, according to Carbon Neutral Britain.

2. Partnership - Consulting: Thrive Ventures Consulting Pte. Ltd. and Management Consultancies have partnered to jointly offer Environmental, Social and Governance (ESG) consulting services across the South-East Asian region, the two firms said.

3. Smart Phone Reseller: Currys plc, an online reseller, now offers the to UK customers. The sales relationship surfaced the same week that Fairphone announced a CEO transition to Raymond van Eck from Reinier Hendriks.

4. Solar Layoffs: The SunPower Corporation also involves , Siliconvalley.com reported.

B. Sustainability M&A, Investments, Funding and Green IT Business Launches

1. Startup Investments - Clean Fuel Challenges: Multiple startups are collapsing or struggling to bring their and products to market, The Wall Street Journal reported.

2. M&A - Data Center Infrastructure: AMD plans to acquire , a provider of for the world’s largest hyperscale computing companies, for roughly $4.9 billion.

3. M&A - Circular Economy: has acquired Holdings of Sauk Rapids, Minnesota. This is Reconomy's second U.S.-focused acquisition in recent weeks. The other involved buying Lincoln Waste Solutions. Financial terms of each deal were not disclosed.

4. M&A - Solar Power: Capital will acquire 12 projects in Spain with an overall capacity of 248 megawatts (MW) and eyes more opportunities in the country, Reuters reported.

5. M&A - Private Equity and Waste Management: has acquired from Genesis Private Equity. Financial terms of the deal were not disclosed. The deal surfaced a few days after EQT acquired AMCS Group, a provider of SaaS-based applications that help customers with their waste management, recycling and sustainability strategies.

See all details on our homepage.

08/16/2024

M&A deal number 256 of 2024 (so far): , an investment firm focused on IT services, has acquired circular IT asset management firm Premier LogiTech of Dallas, Texas.

This is Tide Rock's second acquisition in recent days. The other involved Full Circle Electronics, backed by Tide Rock, acquiring Global Electronics Recycling (GER) -- an IT Asset Disposition ( ) specialist.

Premier LogiTech, founded in 2007, specializes in technology -- including product sourcing, warehousing, asset management, configuration services, fulfillment services, delivery, reverse services, product repair and reclamation, the company said.

Tide Rock, founded in 2013, is based in Solana Beach, California. The unlevered buyout firm acquires companies with strong free cash flow and grows them to scale, while distributing high quarterly yield to its investors, the buyer said.

Tide Rock typically acquires B2B (business to business) companies that have annual (earnings before interest, taxes, depreciation and amortization) of $2 million to $7 million.

Read our complete report -- including statements from Tide Rock President Brooks Kincaid & Premier LogiTech CEO Scott Paul -- on our home page.

08/16/2024

M&A deal number 255 of 2024 (so far): consultancy , backed by Blackstone, has acquired -- an engineering company that helps building owners and property managers to their infrastructure.

Legence has extensive M&A experience. Indeed, Legence acquired six businesses in 2023, and the company purchased Corporate Sustainability Strategies (CSS) in May 2024.

The latest acquisition, AMA Group, has national reach. But the company's presence, in particular, positions Legence well for building decarbonization opportunities.

Indeed, acquiring AMA positions Legence to "better support building owners and operators in meeting the stringent energy reduction mandates of Local Laws 87 and 97," the buyer asserts.

AMA will ultimately tuck into CMTA, Inc. , Legence’s largest mechanical, electrical, and plumbing (MEP) engineering services portfolio company, the buyer said.

For more context and statements from Legence CEO Jeffrey Sprau, AMA Group Founder Arthur Metzler, and CMTA CEO James Benson, read our complete coverage on our home page.

08/16/2024

Updated list: 55 technology to help build their , & .

The latest addition to the list is the Amazon.com 4.0 cohort.

This cohort, announced in August 2024, focuses on Amazon Operations Sustainability; for ; water tech acceleration; ; grid modernization and security; and alternative fuels.

See the entire list of accelerators on our homepage.

08/16/2024

More continue to surface in the market. Here are the latest updates so far for August 2024:

August 14 - X (formerly Twitter) Faces Lawsuit: Austrian advocacy group filed a complaint against social media platform , Reuters reported, accusing the - owned company of training its with users' without their consent in violation of EU privacy law.

August 12 - Lawsuit vs Intel: Software maker Anaconda, Inc. has sued Intel Corporation in Delaware federal court, accusing the chipmaker of misusing its software for developing platforms, Reuters reported.

August 5 - Elon Musk vs. OpenAI: Elon Musk revived a lawsuit against maker OpenAI and its CEO Sam Altman, alleging that OpenAI put profits and commercial interests ahead of the public good, Reuters reported. Musk has also launched to compete against OpenAI.

August 2 - Scope Narrowed: A U.S. District Judge dismissed a claim accusing OpenAI of unfair business practices by utilizing the works of authors — including Sarah Silverman, Paul Tremblay and Ta-Nehisi Coates — without consent or compensation to power its AI system, The Hollywood Reporter said. However, the authors' primary claim for direct copyright infringement remains in the case, the report added.

Want more details? Our complete monthly timely -- stretching from October 2022 through August 2024 covers AI lawsuits involving OpenAI, , , , and more.

Check our homepage for details.

08/16/2024

Singapore investment firm hires Calvert Research and Morgan Stanley veteran Emily Chew as head of , according to her LinkedIn profile.

Four things to know...

1. Business Focus: GIC, founded in 1981, is one of the three investment entities in that manage Singapore's reserves. The other two are the Monetary Authority of Singapore (MAS)) and Temasek.

2. Sustainability Strategy: GIC’s Sustainability Committee includes senior leaders from the firm's investment, risk and corporate functions. The committee is tasked to implement the sustainability framework, and monitor and respond to environmental, social and governance ( ) issues. We don't know if GIC has internal sustainability goals or specific target deadlines.

3. Emily Chew's Experience: Chew previously was executive VP of Calvert Research and Management -- a division of Morgan Stanley Investment Management. At Calvert, her roles included chief responsible investment officer and .

4. Sustainability Successor? Meanwhile, Calvert Research does not plan to hire a replacement for Chew. Instead, Head of Sustainability Barbara Calvi will take on more responsibility, and multiple team members will take on Chew's former role, Responsible Investor reported.

Want more details? See our complete report on our homepage.

08/16/2024

Good morning. Here is today's news for technology partners. Updates for Friday, August 16, 2024 include:

1. IT Services: Global provider Capgemini is touting the Open Footprint Data Model Standard to help customers build "trustworthy, well-structured sustainability data."

2. Global Methane Monitoring: SpaceX today is scheduled to launch Tanager-1, a methane-detecting satellite that's designed to hold super polluters accountable for their , Bloomberg reported.

3. Renewable Energy: Silicon Ranch Corporation has activated the Scotford near Edmonton, Alberta in Canada. Key customers include Shell’s Energy and Chemicals Park. The solar farm can power approximately 20% of the refinery’s energy needs for the next 25 years and provide 100% of its electricity needs at peak capacity, Silicon Ranch said.

4. Partnership - Virtual Power Purchase Agreement (VPPA): A Statkraft, Europe’s largest provider, plans to purchase energy from Avangrid’s 35 MW Casselman in Pennsylvania. This is the second VPPA deal between the two companies within the past nine months.

B. Sustainability M&A, Investments, Funding and Green IT Business Launches

1. Investments - Carbon Removal Challenges: Investments in projects doubled in 2023, but most of the money is coming from Microsoft, according to The Wall Street Journal. Key names to know include Patch, CUR8 and , the Journal noted.

2. Data Centers - Potential Asset Sale?: Brookfield Infrastructure Partners L.P. is weighing a minority stake sale in some of the assets of French data center operator Data4 Group, Bloomberg reported. Brookfield is working with Citigroup on seeking investors for 's so-called stabilized assets, which refer to fully-constructed with high and stable tenancy rates, the report said. The potential valuation: Roughly €3.5 billion (US$3.8 billion), Bloomberg reported.

3. M&A - Environmental Engineering: Verdantas, backed by firm Sterling Investment Partners, has acquired cbec eco engineering, an environmental solutions company focused on water resources engineering and ecological restoration. Financial terms of the deal were not disclosed.

4. M&A - Engineering and Building Decarbonization: A Legence, backed by Blackstone, has acquired AMA Group, a New York City-based national engineering services firm. Among the key focus areas for the deal: Driving building . Financial terms of the deal were not disclosed.

But wait. There's more. See our entire daily update on our homepage.

08/14/2024

CEO Change: hires Raymond van Eck (pictured) to succeed Reinier Hendriks. The maker has had multiple CEO changes in the past 14 months or so.

Still, pointed to signs of business progress ahead of van Eck's arrival. Examples from fiscal year 2023 include:

1. Selling 100,107 smartphones.

2. Launching the and XL, which resulted in avoiding 944 tons of CO2 and 29 tons of electronic waste.

3. Over 22,000 additional people benefitting from Fairphone’s measures in 2023, the company said.

4. (earnings before interest, taxes, depreciation and amortization) was a negative €14.2 million, though its sounds like 2023 represented a financial improvement over 2022.

So what's next? Check out our complete article for analysis, along with statements from new CEO Raymond van Eck, and Eelco Blok, chairman of Fairphone’s Supervisory Board.

08/14/2024

M&A deal number 254 of 2024 (so far): Vista Equity Partners acquires JAGGAER from firm Cinven. Deal involves major provider of software. Also has & data management capabilities.

Jaggaer, founded in 1995 as SciQuest, is based in Durham, North Carolina. The company's software -- supported by roughly 1,200 employees -- helps roughly 1,400 customers to automate sourcing, spend management, contracting, , invoicing and supply chain visibility.

Moreover, Jaggaer's software allows customers to "harness ESG data" in a quest to "optimize sustainability across procurement and supply chain" activities, the company asserts.
Financial terms were not disclosed, but the seller was seeking about $3 billion for Jaggaer, Reuters reported in May 2024.

See our complete article for statements and perspectives from:

- Andrew Hovancik, MBA, CEO, Jaggaer

- Michael Fosnaugh, co-head, Vista Flagship Fund

- Sam Payton, senior VP, Vista Equity Partners

- Julia Kahr, partner and head of North America at Cinven

- Danny Garin, senior principal at Cinven; and

- John Cuyulis, principal at Cinven.

08/14/2024

M&A deal number 253 of 2024 (so far): acquires software provider Group. Post deal, minority investors will include AMCS co-founder, management team members, and such firms as , Clearlake Capital Group, Highland Europe and the Ireland Strategic Investment Fund.

AMCS, founded in 2003, is based in Ireland. The company -- backed by more than 1,300 employees across Europe, North America, Australia and Asia -- serves over 3,800 customers.

AMCS develops applications for "resource-intensive" industries -- including , , transportation, manufacturing, and utilities.

Key AMCS software use cases include Enterprise Resource Planning ( ), recycling, transport, (Environment, Health, Safety, and Quality) and (Environmental, Social and Governance) capabilities. That software helps customers to develop and manage , while addressing regulatory and sustainability reporting requirements, EQT said.

Read our entire article for statements from Jimmy Martin, Robert Maclean, Simon Griffiths & Richard Wells.

Private equity firm EQT acquires AMCS, a SaaS application provider for sustainability, ESG, EHSQ, waste management & recycling customers. Insight Partners remains minority AMCS investor.

08/14/2024

It sounds like some businesses plan to skip the climate conference, according to POLITICO, amid concerns about the event’s location and logistics, the host nation's history, and the timing of the US presidential election.

Visit our home page for deeper details.