Nov 20, 2019

How Microsoft is digitally transforming the energy industry

Georgia Wilson
2 min
Microsoft has partnered with a range of energy companies to drive sustainability through technology
Climate change continues to be a modern world problem. As a result, hundreds of companies have been working to reduce their impact...

Climate change continues to be a modern world problem. As a result, hundreds of companies have been working to reduce their impact on climate change.

The average global temperature since 1880 has increased by 1.9°F. Though this may not seem a significant number, a small decline of 1.1°F between 1300 and 1850 caused the Little Ice Age.

In 2015, 195 of the world governments signed the Paris agreement to reduce the global temperature increase below 3.6°F, with efforts to limit global warming to 2.7°F.

Since then multiple companies such as Amazon, Walmart and AT&T have been committing to make their operations more sustainable.

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In addition to these big company names, multinational technology company, Microsoft has also been working towards a more sustainable future, with previous partnerships including a joint initiative with ENGIE, for a long term wind and solar power purchase agreement. 

This week Microsoft has formed an alliance with Baker Hughes and C3.ai with the ambition to accelerate digital transformation within the energy industry. The three companies will leverage Artificial intelligence(AI), Microsoft Azure Cloud and Baker Hughes’ experience in energy tech to achieve a safe, clean and efficient industry.

With this alliance businesses in the energy sector will have access to secure and reliable enterprise-scale AI applications that have been effectively optimised for Azure. In addition to, tailored solutions that will address the entire value chain including: inventory optimisation, energy management, equipment reliability, and predictive maintenance and process.

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Jun 18, 2021

Start-ups receive $60 billion investment, smash 2020 record

techstartups
investment
Technology
Laura Berrill
2 min
Europe’s tech sector start-ups attracted more venture capital investment in 2021 than the whole of 2020 with the UK leading in tech policy

Start-ups on the continent have raised a massive 43.8 billion euros ($60.9 billion) in just the first six months of 2021, according to figures from Dealroom, surpassing the record 38.5 billion euros invested last year..

This is despite the fact that the number of venture deals signed so far is around half the amount agreed in 2020. Only about 2,700 funding rounds have been raised so far this year, compared to 5,200 last year.

Prime examples in times of change

Examples are Swedish buy-now-pay-later firm Klarna which has raised more than $1.6 billion in two financing rounds, the German stock trading app Trade Republic received $900 million in May and British payments provider Checkout.com snapped up $450 million at the start of the year.

The figures suggest that European tech firms are pulling in far larger sums of money per investment than in previous years, which defies the economic uncertainty of the pandemic and boosted online services enormously.

The CEO of Checkout.com, Guillaume Pousaz, said start-ups have often been created in times of crisis, citing the emergence of several new financial technology companies in the wake of the 2008 global financial crisis.

He added that big transformational change was often the time when there is the emergence of a lot of new start-ups, sometimes when people are losing their jobs for associated reasons.

UK leading the charge

Scale-Up Europe, a group that includes the founders of UiPath and Wise, proposed 21 recommendations to help the region build “the next generation of tech giants.” Among the suggestions are tax credits to corporates for investing in start-ups and regulatory changes that adapt to new innovations.

Sebastian Siemiatkowski, CEO of Klarna, said the U.K. leads Europe when it comes to tech policy, and that there were a number of regulatory issues needing to be addressed before the European Union can produce tech giants of its own.

Siemiatkowski highlighted EU regulation of web cookies as an example of “poor regulation.” Yet, as the number of $1 billion start-ups in Europe continues to grow, the number of exits in the continent is also increasing. 

This year has already seen some notable acquisitions, including Etsy’s $1.6 billion purchase of U.K. fashion resale app Depop and JPMorgan’s takeover of London robo-advisor Nutmeg.

As for stock market listings, a number of notable debuts have taken place in London in particular, including food delivery app Deliveroo, cybersecurity firm Darktrace and reviews site Trustpilot. Money transfer giant Wise, formerly known as TransferWise, plans to go public in the U.K. capital soon.

 

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