Schneider Electric announced that it has acquired start-up climate-tech platform Zeigo to enhance the company’s digital capabilities in energy, sustainability, and environmental commodity consulting. The acquisition will complement Schneider Electric’s portfolio of clean energy services and solutions and advance the company’s digital energy transformation ambitions.
“Zeigo is delighted to join forces with Schneider Electric to continue to accelerate the digital clean energy revolution,” said Zeigo founder and CEO Juan Pablo Cerda. “Together, we will bring innovative energy solutions to even more companies, to drive impact as they embark on their decarbonization journey.”
Organizations face increasing pressure to decarbonize as climate risks and global ambitions for an equitable energy transition both accelerate. For the past 10 years, one of the most common and effective means for companies to begin to decarbonize has been utility-scale renewable energy power purchase agreements (PPAs). To date, organizations have voluntarily purchased more than 77 gigawatts of wind, solar, and geothermal power via PPA.
The demand for PPAs is expected to grow as net-zero ambitions accelerate globally. More than 2,000 companies have already joined the Science-based Targets Initiative with the intention of mapping their decarbonization aspirations to a 1.5 degree Celsius global warming threshold. A further 300+ corporations have joined the Climate Group’s RE100, committing to achieve 100% renewable energy in their operations. Taken in total, these commitments have led Bloomberg New Energy Finance to predict a shortfall in corporate renewable energy of 269 terawatt-hours by 2030.
Renewable energy procurement is time-consuming and complicated, requiring significant expert evaluation of projects and risks alongside the satisfaction of stakeholders up to and including corporate boards. By combining Zeigo’s AI capabilities with its existing best-in-class advisory services, Schneider Electric will deploy enhanced collaborative intelligence in the energy and environmental commodity procurement process, an ideal complement to existing Schneider Electric solutions for aggregation and digital platforms EcoStruxure™ Resource Advisor and NEO Network™
“As the world’s largest advisor to corporations on renewable energy procurement, we know that speed and complexity are two of the barriers that keep some corporations out of the PPA market,” said Steve Wilhite, SVP for Schneider Electric’s Sustainable Business Division. “By adding the Zeigo technology and team to our existing portfolio of services and solutions, we will be able to provide even greater value to our clients worldwide. My congratulations to Zeigo on this significant milestone.”
By Mary Page Bailey
Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.
H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.
New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.