Energy - December 2023

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December 2023 | energydigital.com

J.P. MORGAN Transforming treasury via technology

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The Energy Team EDITOR-IN-CHIEF

TOM SWALLOW EDITOR

CHARLIE KING CHIEF CONTENT OFFICER

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FOREWORD

AI’s power to protect and prevent What’s your opinion of AI? Perhaps if I elaborate…

These new technologies bring immense transformation benefits in a world that is under threat from natural disaster as well as national and international disruptions. AI gives us great insight into the future, but also helps us pivot in a safe and sustainable direction in order to meet environmental, social and economic needs.

A great example of how technology can aid in the event of disruption can be witnessed in Google’s Sustainability LIVE keynote, which really showcases how AI can be used for good. It can foresee the weather and generate alerts of extreme conditions, manage infrastructure to ensure that transport runs smoothly, all while monitoring the efficiency and effectiveness of current systems.

Sooner or later, we’ll all be wondering what we ever did without technology; many already are.

ENERGY DIGITAL MAGAZINE IS PUBLISHED BY

TOM SWALLOW

tom.swallow@bizclikmedia.com

© 2023 | ALL RIGHTS RESERVED

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The Portfolio

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CONTENTS UP FRONT

014

014 THE ENERGY INTERVIEW

Vaishali Nigam, Co-Founder and Sustainability Chairperson, ReNew

020

020 LIFETIME OF ACHIEVEMENT Fatih Birol, Executive Director, IEA

024 PEOPLE MOVES

024

Clean energy leaders and industrial, electrical evolution

026 THE MONTH THAT WAS

Leaders build up to energy discussions at COP28

030 000 8

December 2023

DECEMBER 2023

044

FEATURES 030 TOP 10

054

Energy leaders

044 J.P. MORGAN

J.P. Morgan Payments – Transforming treasury via technology

054 INDUSTRY X.0

Digitising energy to access transportation efficiencies through data

062

062 SELLAFIELD

Sustainable impact begins with a sustainable mindset

078 SMART ENERGY

Battery vs fuel-cell vehicles friends or foes?

078 energydigital.com

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Sean Jones Chief Sustainability Officer

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DECEMBER 2023 086 DANFOSS

The journey to net zero and energy efficiency

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104 AI

Harnessing cloud service to accelerate energy sustainably

112 SIEMENS ENERGY Driving sustainability with digitalisation

128 CHARGING

Bi-directional charging turns EVs into battery energy assets

112

104

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India’s renewable energy progress explained Vaishali Nigam Sinha, Co-Founder and Sustainability Chairperson of ReNew, debunks India’s renewable energy adoption progress, thriving on national support

F VAISHALI NIGAM SINHA TITLE: C O-FOUNDER AND SUSTAINABILITY CHAIRPERSON COMPANY: RENEW INDUSTRY: RENEWABLE ENERGY LOCATION: INDIA Vaishali Nigam Sinha is the Co-Founder and Sustainability Chairperson at ReNew. In this role, she plays a key part in establishing ReNew as a global leader in ESG. Nigam also serves as the Chair of the ReNew Foundation and holds positions on various boards as an Independent Director.

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December 2023

ollowing a successful start to her career as an investment banker in the US, Vaishali Nigam Sinha became the Co-Founder and Sustainability Chairperson of ReNew—an organisation that is helping decarbonise India through renewable energy engagements.

Alongside her role at ReNew, Nigam Sinha works closely with industry bodies and think tanks to address the climate challenge from her angle in the clean energy sector—as a board member of the UN Global Compact Network, acting chair of its Gender Committee, as well as being the chair of the Confederation of Indian Industry’s National Committee on Women in Energy.

Expressing the importance of ESG in her work, and that of ReNew, we ‘sat down’ to learn more about India’s sustainability trajectory, and ReNew’s influence on the industry.

“There is a common misconception that India’s growth has been driven by coal”

INTERVIEW WITH...

“ Historically, women have not been drawn into areas of sustainability and renewable energy, which has its roots in traditionally male-dominated sectors” Q. WHAT’S THE CURRENT ENERGY LANDSCAPE IN INDIA IN TERMS OF RENEWABLE ENERGY CAPACITY?

» India, as the fastest-growing major

economy, is making significant strides in the renewable energy space. Currently, India is ranked fourth in the world for installed capacity of renewable energy (including large hydro), amounting to 179.322 gigawatts. In 2022, we witnessed the highest year-on-year growth in renewable energy additions of 9.83%. The Indian government is also actively promoting the addition of a substantial amount of renewable energy capacity in the coming years, with the aim of installing 500 GW of renewable energy capacity, requiring India to add about 50 to 60 GW every year until 2030. This target positions India to become one of the world’s leading renewable energy economies.

However, there is a common misconception that India’s growth has been driven by coal. Over the last decade, India’s renewable energy function has been on a highly accelerated trajectory, which has been driven largely by our country’s leadership and supported by a thriving private sector of which ReNew is a part – and often a pioneer.

It was recently reported that India’s greenhouse gas emissions rate dropped 33% over 14 years, largely thanks to the 16

December 2023

exponential growth of the renewables sector in the country. Prime Minister Narendra Modi has set forth an ambitious objective for 2030, and in addition to the 500 GW of renewable energy capacity, India is also looking at a 45% reduction in the emissions intensity of the economy.

Q. HOW IS THE COUNTRY AND ITS ORGANISATIONS RESPONDING TO THE DEMAND FOR RENEWABLE TRANSITION?

» India’s response to the demand for

the renewable transition is multifaceted, involving a combination of a positive policy environment, private sector investment, technological innovation, and international collaboration.

India is experiencing a swifter expansion of renewable energy compared to many other major economies, with new capacity additions expected to double by 2026. On top of that, India’s shift towards clean energy is already well underway. The country has surpassed its commitment made at COP21 in Paris by achieving 40% of its power capacity from non-fossil fuel sources, nearly nine years ahead of schedule.

India has been responding to the demand for the renewables transition in several ways. Constructing solar power plants has become more cost-effective than that

of coal facilities, thanks to advancements in technology, consistent and supportive government policies, and a robust private sector.

The government is also playing a crucial role in the support of the industry. The Production Linked Incentive (PLI) scheme in solar PV manufacturing was introduced by the government with financial outlays amounting to INR 24,000 crore to enhance manufacturing capabilities, increase exports, and generate jobs. In addition, the Indian government authorised US$2.3bn in January to boost the green hydrogen sector, aiming to establish India as a worldwide centre for sustainable fuel.

ReNew specifically is making huge strides in the green hydrogen space. Last year, the company signed a Framework Agreement with the Egyptian Government to establish a green hydrogen plant in the Suez Canal

Economic Zone, which aims to produce 220,000 tonnes of green hydrogen annually.

Further, it has also set up manufacturing facilities in Gujarat and Rajasthan for solar cells and solar modules.

Q. WHY IS IT SO IMPORTANT TO HAVE FEMALE REPRESENTATION IN THE ENERGY SECTOR? WHAT WILL THIS BRING TO THE RENEWABLE TRANSITION?

» The journey towards a greener future goes beyond just environmental concerns. While these types of concerns are a crucial aspect of businesses’ efforts to reduce carbon emissions and promote sustainability, it is equally important to prioritise the wellbeing of individuals. We must guarantee that the shift to green energy is fair and inclusive for all communities, particularly those most susceptible to the effects of climate change energydigital.com

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INTERVIEW WITH...

in underdeveloped nations. In addition to this focus, we certainly must include women in this transition, through education, advocacy, and leadership.

On a global scale, we are not looking only for a renewable energy transition.

We are looking for a just energy transition, and in order for the energy transition to be fully credible and just, we must ensure that women and marginalised groups are not forgotten as we continue to advance this journey. It is critical that women are involved in the renewable energy transition, from policymakers to government representatives, all the way to site leaders.

The renewable energy sector is only growing larger, and this means that the need for skilled workers will continue to increase.

IRENA estimates that 38 million employees will be needed by 2030 to reach and deliver global climate commitments. Increasing the amount of female representation in the renewable energy sector has double benefits: increasing the size of the workforce while simultaneously bridging the gender gap currently faced in this sector.

Q. WHAT HINDERS FEMALE REPRESENTATION IN THE INDUSTRY?

» The United Nations reports that 80%

of people who are displaced by climate disasters are women, however, their representation in the clean energy industry is minimal, at around 32% globally, and just 11% in India. Around 34% of women in the workforce are in corporate functions and only about 1% of women occupy jobs in operations and maintenance or core STEM roles.

Women have historically not been drawn into areas of sustainability and renewable energy, which has its roots in traditionally male-dominated sectors, like engineering.

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This lack of a female presence could be caused by societal expectations similar to that of women in STEM or cultural issues that hinder women from entering the workforce. Over the years, this has led to a lack of diversity in the talent pool and created an environment where women may feel like outsiders.

Looking back at my early adult life, a large majority of women did not go to engineering colleges due to the lack of available hostels for them to stay in, which raised security and safety issues. The combined effect of the enabling environment and the cultural environment prevented women from getting into STEM careers.

Q. HOW WILL RENEW HELP OVERCOME THESE CHALLENGES?

» I am committed to driving not just

positive environmental impact, but positive transformation on the societal scale as well.

My work at ReNew has been hyper-focused

on increasing and advancing the roles that women play in the renewable energy transition, not just in India, but across the world.

At ReNew, we believe that diversity, equity, and inclusion are integral to our success as a pioneer in the renewable energy industry. Fostering an environment that celebrates diversity and encourages inclusion is our responsibility. Our aim is not to just bring in more women but to make sure they feel included and respected by their seniors and peers. We have observed a seamless transition of women from enabling roles to core decision-making roles, where they contribute significant value to our organisation across various fields. We have enabled our talent acquisition team to bring in an increasing number of female graduate engineer trainees and diploma engineer trainees into STEM roles. Members of the senior leadership team at ReNew have DE&I targets which help us track progress better.

We continue to take concrete steps to improve our diversity quotient. We have a long-term target of achieving 30% gender diversity in our workforce by 2030. We are already at around 16%, which is significantly higher than the industry average in our sector.

Beyond business, our programmes have focused on re-skilling women in energy job roles.

Under our Women for Climate initiative, I developed and launched Project Surya in partnership with the UNEP and SelfEmployed Women’s Association of India, a first-of-its-kind project to train thousands of salt pan women workers in India and enable them to get roles in the clean energy sector. This initiative enabled these women workers to obtain the necessary skills needed to not only take on higher pay, safer working conditions, and a path towards socioeconomic mobility but also to play an active role in the renewable energy transition.

In addition to Project Surya, I also developed and led ReNew’s Women Climate Champions program, an entrepreneurship development platform, which selected six female entrepreneurs to receive bespoke 1:1 mentoring sessions with senior sector experts, strategic peer learnings, and capacity-building activities.

Closely aligned with the UN Sustainable Development Goals, the entrepreneurs were also educated to ensure that the work they conduct will have a positive ripple effect and leave a sustainable legacy. energydigital.com

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Credit: International Energy Agency

FATIH BIROL

LIFETIME OF ACHIEVEMENT

A driving force in international energy Leading the sector’s main authority, Fatih Birol, Executive Director of the IEA is a climate evangelist and believes in economic prosperity

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any of us couldn’t imagine being at the helm of a global energy institution as a critical decision-maker at this time. Nevertheless, the International Energy Agency (IEA) continues to support the greatest industrial transition of our time with the Executive Director Dr Fatih Birol influencing major evolution across the industry.

Born in 1958 as a Turkish citizen in the country’s capital Ankara, Birol studied a Bachelor’s of Science in Power Engineering at the Istanbul Technical University. Later he also achieved a Master’s and PhD in Energy Economics from the Technical University of Vienna, which was where his first job role was formed.

2013 marked the recognition of his dedication to study as Birol was awarded a Doctorate of Science honoris causa by Imperial College London.

During this time, he has been recognised by a number of countries for his excellence in the form of honours and medals. In January 2022, he was awarded the Chevalier of the Legion of Honour in France, adding to many other honours from across the globe, including countries like Turkey, Austria, Germany, Italy, and Sweden.

Birol comes from humble beginnings as a dedicated Junior Analyst with the Organization of the Petroleum Exporting Countries (OPEC) based in Vienna.

The following years saw him enter the IEA and climb the ladder to a Chief Economist role, which put him in charge of its World Energy Outlook report.

In 2015, his tenure as Executive Director began, consisting of an incredible journey of industry influence to this day.

FATIH BIROL TITLE: EXECUTIVE DIRECTOR COMPANY: IEA INDUSTRY: ENERGY LOCATION: FRANCE Fatih Birol is the Executive Director of the International Energy Agency (IEA).

An expert in energy economics and sustainability, he has made significant contributions to global energy policy dialogues over the years. Under his leadership, the IEA addresses pressing challenges including climate change, energy security, and sustainable energy access.

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Credit: World Economic Forum

LIFETIME OF ACHIEVEMENT

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December 2023

“ Let me be clear, economic growth coupled with decarbonisation is not only realistic, it has already been happening”

Responsibility for climate change and the energy transition Birol’s climate advocacy and commitment can be seen across the industry, but he often shares his thoughts on the direction of the global energy sector via the IEA’s website – sharing analysis of new developments, global news, major events, and opportunities across all facets.

Birol is a strong believer of decarbonisation that coincides with economic prosperity. While this is a key part of his role, as an economist himself he understands the relationship between the two and looks to drive a coalition between business and the planet.

In an article published by the IEA he talks of world recovery that aligns the economy with sustainability.

“Let me be clear, economic growth coupled with decarbonisation is not only realistic, it has already been happening,” says Birol. “Last month, IEA data showed that global energy-related carbon emissions stopped growing in 2019 even as the world economy expanded by nearly 3%. A key part of this encouraging development was the decline in emissions from the electricity sector across advanced economies, indicating that clean energy transitions are moving forwards.”

It’s safe to say that the climate crisis, and in fact all crises, has a profound effect on Birol and is further motivation to continue building an energy that is suitable for the future. Part of this work is to understand the energy landscape and ensure full transparency of the industry and the sentiments of the powers within it. Birol recognises the challenges vary between continents as energy equity is yet to come to fruition in some underserved areas.

“Although some of the biggest disruptions have been felt in Europe and made a lot of the headlines, major impacts are being felt in many emerging and developing economies. For example, we see this clearly in the number of people worldwide who lack access to electricity, the large majority of whom live in SubSaharan Africa. This number rose last year for the first time in decades as energy prices spiked amid the crisis.”

As the Executive Director, Birol prides himself on bringing clarity and reassurance to the industry that it takes on the climate challenge with the full support from the IEA. With many countries realising the demand for their own energy strategies, they can focus on delivering renewable systems. energydigital.com

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PEOPLE MOVES

CLEAN ENERGY LEADERS AND INDUSTRIAL, ELECTRICAL EVOLUTION We look back at some of the key appointments that will enable clean energy development and further progress in the electric revolution

LUKE MILNER JOB FROM: C FO, ENERGY VENTURES AT LIBERTY GLOBAL JOB TO: C EO, ENERGY TRANSITION PORTFOLIO AT LIBERTY GLOBAL Milner holds a key role in enabling finance for a future of renewable energy. While he was previously the CFO of Energy Ventures, he now steps up to become the CEO of the portfolio, working on the Egg brand – which is driving a clearer pathway to clean energy through home solar-power, battery-storage, and EV charging solutions. The joint-venture Believ initiative will also be supported by Milner with a primary focus on automotive electrification as an EV charge point operator, which recently appointed Guy Bartlett as its CEO. His position at Liberty Global will continue to build the foundations of a cleaner relationship with energy and act as a key influencer of infrastructure electrification globally.

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December 2023

“ Kristin Baker’s extensive knowledge of our business gained from various senior roles, including her most recent position as VP for Strategy & Business Development, is invaluable” KELLY BECKER

ZONE PRESIDENT, SCHNEIDER ELECTRIC UK&I

IAN WOODS JOB FROM: M ANAGING DIRECTOR AT DEUTSCHE BANK JOB TO: V ICE CHAIRMAN, INDUSTRIALS INVESTMENT BANKING AT BARCLAYS Barclays announced the appointment of Woods to the role of Vice Chairman, Industrials Investment Banking in October 2023 – a role that will support global energy investing.

KRISTIN BAKER

DAVID GOATMAN

JOB FROM: V P STRATEGY & BUSINESS DEVELOPMENT UK & IRELAND AT SCHNEIDER ELECTRIC

JOB FROM: P ARTNER, HEAD OF ENERGY, SUSTAINABILITY AND NATURAL RESOURCES EMEA AT KNIGHT FRANK

JOB TO: V P INDUSTRIAL & PROCESS AUTOMATION UK & IRELAND AT SCHNEIDER ELECTRIC Having joined the team in 2011, Baker is now the VP Industrial & Process Automation for UK & Ireland at Schneider.

KRISTEN BROWN JOB FROM: D IRECTOR OF FUTURE ENERGY SYSTEMS UK&I AT SCHNEIDER ELECTRIC JOB TO: V P OF STRATEGY UK&I AT SCHNEIDER ELECTRIC VP of Strategy for the UK and Ireland was earned by Brown, a role in which she will dedicate her efforts to group operational strategy and ensure the execution of shortterm strategic goals.

JOB TO: G LOBAL HEAD OF ENERGY AND SUSTAINABILITY SERVICES AT KNIGHT FRANK The real-estate consultancy based in London, UK, has appointed Goatman to lead the changes happening in the world of property.

FRANCESCO STARACE JOB FROM: C EO & GENERAL MANAGER AT ENEL JOB TO: C HAIR OF THE SCIENCE-BASED TARGETS INITIATIVE (SBTI) AT ENEL “I am very impressed by the momentum the SBTi has built since its inception,” said Starace on his appointment as the Chair of the global sustainability programme.

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THE MONTH THAT WAS

LEADERS BUILD UP TO ENERGY DISCUSSIONS AT COP28

From clean energy to supply chain, industry leaders are building on their sustainable commitments and COP28 will see to a more strategic direction

MCKINSEY & COMPANY’S GLOBAL ENERGY PERSPECTIVE REPORT CLEAN ENERGY TECHNOLOGY: ROLLS-ROYCE SMR’S NUCLEAR SOLUTION Most people will be familiar with RollsRoyce Motors – the brand is synonymous with the luxury cars that it has been developing since 1904.

It is, however, part of a wider Rolls-Royce business that believes in the positive, transforming potential of technology.

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Leading global consultancy McKinsey & Company has released its 2023 Global Energy Perspective, which shows that tackling energy transition technology bottlenecks with substitute materials, innovation, infrastructure build out and regulation will be crucial to achieving net zero targets.

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DHL SUPPLY CHAIN BOOSTS DECARBONISATION

BY FUELLING WITH HVO The world’s leading logistics provider, DHL Supply Chain, is part of the DHL Group, the enabler of global trade that operates in more than 220 countries and territories and employs over 600,000 people around the world.

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RWE LED GERMAN GREEN HYDROGEN RESEARCH PRODUCES HYDROGEN In Germany, research around the infrastructure required for green hydrogen in public spaces is being conducted.

The project, GET H2 TransHyDE, is being run

by RWE with Adlares, Evonik, Meter-Q Solutions, Nowega, OGE, and Rosen, together with the DVGW Research Unit.

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EXXONMOBIL SUPPORTS DECARBONISATION THROUGH CARBON CAPTURE

COP28: KEARNEY & THE WCF PARTNER FOR BUSINESS SUSTAINABILITY

ExxonMobil is one of the world’s largest publicly traded international energy companies.

Established over 140 years ago, it works to provide the fuels and chemicals that make modern life possible and support human progress, providing the energy that the global economy requires while also offering lower-emission solutions.

Leading global management consulting firm Kearney has been a trusted advisor to C-suites, government bodies, and non-profit organisations for nearly a century.

To further support the private and public sector transition to more regenerative business models, the firm is partnering with the World Climate Foundation (WCF).

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ENERGY LEADER Sustainability Magazine and Energy Digital champions innovative and influential Chief Sustainability Officers (CSOs) leading energy companies WRITTEN BY: CHARLIE KING

Y RS energydigital.com

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TOP 10

09

Anisa Kamadoli Costa Title: Chief Sustainability Officer and President & Trustee, Rivian Foundation Company: Rivian Industry: Vehicle Manufacturing Ranking: 93

10

Katherine Neede

Title: Chief Sustainability Officer Company: Duke Energy Industry: Utilities Ranking: 99

Currently the CSO of Duke Energy, Neebe has 25 years of experience leading ESG initiatives that include climate change, natural capital, and human rights. In her current role, she develops solutions to meet customer needs for continued reliable and affordable energy while striving to meet net zero targets.

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As a leading sustainability, philanthropist and social impact executive, Costa has a track record of connecting ESG issues to business performance, reputation, and shareholder value. In her role at Rivian, Costa develops the company’s global sustainability and philanthropic agenda.

TOP 10

07

Yumi Otsuka

Title: Chief Sustainability Officer Company: Toyota Industry: Vehicle Manufacturing Ranking: 43

08

Charlotte Wolff-Bye

Title: Chief Sustainability Officer Company: PETRONAS Industry: Oil & Gas Ranking: 61

Dedicating her career to Toyota, Otsuka has been at the company for three decades. As CSO she leads the company’s approach to sustainability ensuring it is woven into its corporate strategy priorities. She also drives awareness and investment for sustainable innovation, productivity and growth.

A champion of corporate sustainability practices, Wolff-Bye has been the CSO of Petronas for the last two years, embedding sustainability into the company strategy, as well as ensuring that the company has good governance to match.

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Kristen Siemen

Title: Vice President and Chief Sustainability Officer Company: General Motors Industry: Vehicle Manufacturing Ranking: 29

06

Christopher Raymond

Title: Chief Sustainability Officer Company: Boeing Industry: Aviation & Aerospace Ranking: 30

“Our journey to a zero emissions, all-electric future has never been more important than it is today I’m honoured to be featured on this list with leaders all around the world working together to help create a more sustainable future for generations to come.”

Responsible for advancing Boeing’s approach on aerospace sustainability priorities, stakeholder-oriented engagement; reporting; and company performance, Raymond drives shared awareness of sustainability trends, opportunities and risks. He reports to the CEO and to the Governance and Public Policy committee of the Board.

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TOP 10

04

Gwenaelle Avice-Huet Title: Chief Strategy & Sustainability Officer Company: Schneider Electric Industry: Automation Machinery Manufacturing Ranking: 23

An inspirational leader at global organisations including ENGIE and KLM, Avice Huet has a long career in and around sustainability, climate negotiations, renewable energy, and the zero carbon transition. Avice-Huet joined Schneider Electric in 2021.

03

Matthew Bateson Title: Chief Climate & Sustainability Officer Company: Aramco Industry: Oil & Gas Ranking: 21

An industry expert on sustainability, climate change, and carbon management, Bateson is the CSO of Aramco where he anticipates and sustainably manages safety, environmental and social impacts of current and future activities in the oil and gas industry.

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02

Roger Martella

Title: Group Vice President and Chief Sustainability Officer Company: GE Industry: Industrial Machinery Manufacturing Ranking: 16

GE is a 129-year-old technology and innovation company committed to succeed in a larger purpose — improving the quality of life for all people globally by addressing the core sustainability challenges of the energy transition and climate change, precision healthcare for people everywhere, and a more sustainable future of flight.

“We’ll succeed for sustainability only if we collaborate with diverse leaders in the private and public sectors. It’s an honour to join my partners in Sustainability Top 100 who are driving critical progress both for their companies and more broadly for sustainability success together,” Martella says.

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December 2023

01

Judith Wiese

Title: Chief People and Sustainability Officer Company: Siemens Industry: Automation Machinery Manufacturing Ranking: 13

A people person that enjoys meeting people and listening to their stories, Wiese is driven to create an inclusive and empowering culture. She is passionate about sustainability and believes who all companies have a responsibility to contribute to the UN’s SDGs. Alongside her role as CSO, Wiese is a Member of the Managing Board of Siemens AG. Previously, she held management roles at Mars, the world’s leading manufacturer of chocolate, chewing gum, mints and fruity confections.

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J.P. MORGAN PAYMENTS – TRANSFORMING TREASURY VIA TECHNOLOGY AD FEATURE WRITTEN BY: SCOTT BIRCH PRODUCED BY: GLEN WHITE

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J.P. MORGAN PAYMENTS

J.P. MORGAN PAYMENTS

Michael Brady, Executive Director, Liquidity and Account Solutions at J.P. Morgan Payments, explains how Treasurers can leverage technology transformation

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s a leader in payments with nearly 150 years of experience, J.P. Morgan Payments has a deep understanding of the impact of technology on Treasurers and their partners.

This technology, when implemented correctly, can enhance a Treasurer’s ability to perform their core responsibilities, and their value to the organisation.

Michael Brady, Executive Director, Liquidity and Account Solutions at J.P. Morgan Payments, says better technology and data leads to more informed decision making, resulting in better forecasting and improved control.

“At their core, a Treasurer is responsible for ensuring the company has the right amount of money, in the right entity, in the right currency, in the right location and at the right time to ensure financial obligations are met,” says Brady.

“Having the right technology infrastructure can unlock the data and insights necessary to more accurately view current cash positions and forecast future cash needs. This ultimately leads to freeing up working capital, improved FX hedging, and overall improvements in capital efficiencies. Additionally, technology can reduce operational risks associated with manual processes and, ultimately, free up resources.”

The key phrase there is “the right technology”. With so many solutions on the market, Treasurers can easily find themselves swamped with disjointed 46

December 2023

systems that lead to unnecessary complication and inefficiencies.

Brady backs this up, saying that the issue J.P. Morgan Payments hears of most often is fragmented platforms that lead to lack of both centralisation and visibility into cash positions globally.

“This lack of controls results in excess cash buffers, which has become increasingly punitive in an elevated rate environment,” explains Brady.

“Along with lack of control/visibility, we also see an increased focus on the move towards real-time data to help further reduce idle cash. The main reason for these challenges is twofold. First, lack of understanding the art of the possible and keeping up with new trends in treasury technology, and second, lack of availability of resources on the treasury and technology side of companies.”

Application programming interfaces, or APIs, allow applications to speak to one another and can therefore support digital transformations such as real-time payments and real-time visibility into cash positioning. These innovations can be good news for both partners and Treasurers, but they do require Treasurers to have a foundational understanding of APIs – as well as which ones are most useful when it comes to meeting business goals. Treasurers need to be able to communicate confidently about APIs with technology leaders within the organisation.

US$9.8 trillion

daily payments processed

200+

countries & territories

120+

currencies

Michael Brady, Executive Director, Liquidity and Account Solutions energydigital.com

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J.P. MORGAN PAYMENTS

“ Here at J.P. Morgan Payments, we have built our virtual solutions platform in-house, which makes it more flexible, and we are continuing to invest in it to suit our clients’ needs” MICHAEL BRADY

EXECUTIVE DIRECTOR OF LIQUIDITY AND ACCOUNT SOLUTIONS, J.P. MORGAN PAYMENTS

“The world of Treasury has shifted and is rapidly moving towards real-time to reduce capital buffers and create operational efficiencies. APIs are a tool that is driving this evolution,” says Brady.

“In a rapidly changing economic environment with elevated rates, the benefit of having real-time insights into cash positions is invaluable, and the flexibility the APIs provide will be transformative.

“APIs are really the present and the future.

Where we see the biggest challenge is with the understanding of APIs and how powerful they can be in a company’s treasury transformation journey.”

APIs are on a rapidly evolving journey with the ability to monitor and initiate payments in real-time to transform Treasury. All of this of course comes with a cost, particularly when working in a legacy technology environment.

The technology investment and resources need to be carefully taken into consideration, but the adoption of APIs is becoming more and more streamlined and may be easier and more powerful than some Treasurers realise.

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Of course, Treasurers are rightly concerned with cost when it comes to capital expenditure on new technology, and while virtual solutions are not new, there has been an increased focus and investment in them thanks to the cost benefits they can bring.

Brady, however, believes there is a bigger picture to consider.

“When it comes to virtual solutions, the number-one driver from clients is cost reduction as a result of account rationalisation,” he says. “Can there be a cost benefit? Sure, but we encourage clients to think more broadly. What is the art of the possible? If you could have the

most granular level of reporting, insights, and visibility, what would that look like?

What resources would that free up? How much working capital could you free up with better reporting? What operational efforts or risks could be reduced or eliminated?”

Brady says virtual solutions can facilitate subledgering of funds within a single physical account, resulting in the ability to slice and dice transactions within that account to create the ultimate in flexibility in reporting.

Historically, companies had to open hundreds or thousands of accounts to get this level of visibility. The improved visibility not only creates natural business

MICHAEL BRADY TITLE: EXECUTIVE DIRECTOR, LIQUIDITY AND ACCOUNT SOLUTIONS COMPANY: J.P. MORGAN PAYMENTS

Michael Brady, Executive Director, is a Liquidity and Account Solutions Specialist at J.P. Morgan. Michael is a liquidity subject matter expert with more than 13 years’ experience in various roles in the payments space.

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insight benefits, but also limits idle cash as concentration is native within virtual structures. Lastly, virtual structures can significantly reduce the burden of cash application and manual reporting processes.

“The key with virtual solutions is creating a flexible structure and having a partner that is continuing to invest in their platform as technology and adoption of virtual solutions evolve,” says Brady.

“Here at J.P. Morgan Payments, we have built our virtual solutions platform inhouse, which makes it more flexible, and we are continuing to invest in it to suit our clients’ needs.”

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Treasury transformation is not a onesize-fits-all, one and done approach.

It is important to not just think of what you need to solve now, but rather to consider what is the art of the possible, and work backwards from that.

There will inevitably be low-hanging fruit, and there will also be heavy lifts.

When thinking of the heavy lifts, keep in mind the return in terms of unlocking capital, freeing up resources or gaining more insights to drive business.

View it as a journey, which, as technology advances, will be ever evolving.

That is why flexibility is so important.

J.P. MORGAN PAYMENTS

When it comes to the best strategy for creating a digital ecosystem to enable and accelerate digital transformation, again, there is no single ‘silver bullet’ solution.

“Does it make sense to invest in the most robust treasury management system?

Maybe. Maybe not. What features are you realistically going to use and is it worth the investment?” asks Brady.

When it comes to the potential benefits, there are a few key aspects to consider.

First, what manual processes can you replace? This should be assessed both from an operational risk perspective and also a resourcing perspective.

Second, how much working capital can you unlock, and what is the most efficient way to deploy it? With rates elevated, the benefits can be significant, but it is also important to perform sensitivity analysis around yields to ensure ROI projections are accurate should current economic conditions change drastically.

Lastly, and less tangible, is the importance of flexibility of your tech ecosystem. The secret of a successful digital transformation lies in fluency between Treasurers and Chief Technology Officers (CTOs). Only when these vital functions are aligned will the organisation truly evolve. energydigital.com

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J.P. MORGAN PAYMENTS

“We encourage clients to think more broadly. What is the art of the possible?”

MICHAEL BRADY

EXECUTIVE DIRECTOR OF LIQUIDITY AND ACCOUNT SOLUTIONS, J.P. MORGAN PAYMENTS

“With many companies evolving into new lines of business or expanding into new markets with globalisation, we are seeing increased alignment between Treasury and the Business lines as a result of the cash implications of these evolutions,” says Brady.

“As the demand on Treasury increases, Technology must also have a seat at the table to understand the implications the Treasury infrastructure has on the overall working capital of the company. Treasury should view Technology as a critical partner and involve them in project decisions so that Technology not only understands the language of treasury, but vice versa as well.

“With resources limited on both sides, it is important to have a clear sense of the implication of projects and decisions on one another.”

There are pressures on both sides to deliver transformation via technology in a cost-effective manner, which is why due diligence is essential to enable smooth project delivery and ROI. This is where the Treasurer and CTO can work in tandem to secure the best business outcomes.

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Digitising energy to access transportation efficiencies through data

Insight from Kate Brandt, CSO of Google, highlights the evolution of Google’s digital product that is enabling time, energy, and cost savings worldwide WRITTEN BY: TOM SWALLOW

INDUSTRY X.0

I

n the current consumer landscape, sustainability is faced with myriad challenges. In order to engage the public in the race to net-zero emissions – renewable energy adoption, green transportation, and so on – industries must arm themselves with methods of influencing drivers, homeowners, and businesses. However, this need not be so challenging, particularly in the digital environment where new functionality awaits on every rotation of the innovation sphere.

Iterations of digital solutions bring with them greater, more convenient methods of managing energy consumption and travel smarter, more sustainably, and even at lower costs – these are the three major impacts to the consumer: time, money, and effort.

Moreover, the challenges develop in different ways depending on global positioning. For example, a solution that can support those in the US will not be the same in India. The requirements vary depending on geographical location and other factors like the adoption of digital energy infrastructure, the uptake of electric cars, and overall the access to data in order to share insights.

Take Google’s product as an example.

For almost two decades now, Google Maps has served the majority, adopting more insights year-on-year and is now one of the staple services for commuters and travellers worldwide. The sheer amount of data leveraged by the company for this particular application is mind-blowing and is enabling greater accessibility than many can even comprehend. Paper maps are pretty much redundant as digitally savvy generations turn to Google Maps to get to their destination, albeit in the car or on foot in their local town or city. energydigital.com

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“ In the US, when people search for terms like ‘best electric cars’, they can quickly compare prices, battery range and discover models” KATE BRANDT

CHIEF SUSTAINABILITY OFFICER, GOOGLE

The influence of Google Maps on energy-efficient transport Nowadays, consumers expect more insight from the app. Google has set the bar for navigation, so now the platform is able to play its own unique role in driving down emissions bit by bit. We also heard from the company’s Sustainability Lead Adam Elman at Sustainability LIVE London about how Google is delivering functions to keep customers moving while enabling the most

fuel-efficient and energy-efficient routes.

The company recognises the growing trend in electric vehicles (EVs) and is leveraging data from various digitally enabled vehicles to paint a picture of the cost and emissions involved in travel anywhere in the world.

More information is gained as we read the latest insights from Kate Brandt, Google’s Chief Sustainability Officer, who says: “To help people find other sustainable modes of transportation, like rail, new train route suggestions will soon appear on Search when you look for flights. And in the near future, in France, when people look up driving directions, Maps will show public transit or walking suggestions next to driving routes if travel times are comparable and practical.” energydigital.com

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“ Global EV-related searches have nearly doubled over the past two years” KATE BRANDT

CHIEF SUSTAINABILITY OFFICER, GOOGLE

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Of course, allowing greater insight into already established public transport is crucial, and there are many ways in which this can reduce emissions – influencing more people to use public systems by making them more convenient, but a much more challenging beast is that of automotive electrification. EVs are arriving thicker and faster, spurred on by the growing emphasis on climate change and the pandemic’s showcase of atmospheric healing thanks to limited driving.

Google must integrate data from various sources to track and analyse the entire EV landscape, including charging hubs, new

INDUSTRY X.0

GOOGLE AT SUSTAINABILITY LIVE LONDON

cars, and complex energy requirements in cities. Not only is this having an influence on the renewable energy transition, but also allowing customers to understand the credentials of EVs on the market, making everyone much more knowledgeable of how to live with electrified transport.

“EVs are another area of transportation where we’re seeing growing interest. In fact, global EV-related searches have nearly doubled over the past two years. For people shopping for an EV, it’s now even easier to understand the costs associated with buying a new vehicle thanks to new insights in Search,” says Brandt.

For the third year running, BizClik hosted Sustainability LIVE London, which has grown exponentially over a short period.

Sustainability advocates and evangelists descended on the Business Design Centre, London, to pack their minds with the latest insights from the corporate leaders in sustainability.

The event hosted Google’s own Head of Sustainability Adam Elman, who shared all of the current and upcoming innovations from the technology giant in terms of climate impact reduction, renewable energy adoption, and, as we mention here, solutions that will drive the EV industry forward.

Catch the session on-demand, HERE

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KATE BRANDT TITLE: C HIEF SUSTAINABILITY OFFICER COMPANY: GOOGLE INDUSTRY: TECHNOLOGY AND AI LOCATION: UNITED STATES Kate Brandt the Chief Sustainability Officer of the world’s leading internet search engine company and one of the most prestigious digital and cloud organisations. She was also recognised as number one in Sustainability Magazine’s Top 100 Women for her unwavering commitment to inclusivity and decarbonisation.

INDUSTRY X.0

“In the US, when people search for terms like ‘best electric cars’, they can quickly compare prices, battery range and discover models. They can also find federal government incentives for qualifying vehicles in the US, with German and French national incentives coming soon.”

Supporting city planners to adopt renewable energy Looking at a much more industrial side of things, Google Earth is now capable of doing much more than simply allowing internet users to scan the globe for the latest birdseye view images of their childhood back garden.

This tool can support city planners with greater insights into the potential applications of renewable energy infrastructure, such as solar, as well as cost and energy efficiency information to get the most out of disruptive projects.

Ultimately, the sooner these functions can be leveraged the smoother the transition will be and allow developers to be more proactive in their approach to building more efficient housing in the future.

“This capability will make it easier for planners to determine the best building designs and solar options for urban areas. It’s especially helpful when optimising designs for places with ample space, like parking lots,” says Brandt. “As we continue working toward a carbon-free world, making solar technology more accessible for cities and organisations will be key to reducing global emissions.”

Energy efficiency is supported in various ways by the Google products that have evolved over time to share more insight than previously anticipated. These great strides of its digital products will serve economies in the race to decarbonise cities, electrified transportation, and create more opportunities for the public to take energy consumption into their own hands. energydigital.com

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LOGO

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Sustainable impact begins with a sustainable mindset AD FEATURE WRITTEN BY: TOM SWALLOW

AD FEATURE PRODUCED BY: GLEN WHITE

SELLAFIELD

Eirini Etoimou showcases how Sellafield integrates sustainability moving from the ambition to action and to long-term results

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here is a misconception that one person can tackle all of the global challenges in an instant.

This is especially true with areas of sustainability.

The imminent threat of centuries of damage to the planet makes sustainability a very passionate subject, but it is not without its challenges. This is why one of the most critical tasks for some of the most impactful organisations is managing expectations of what their businesses can achieve in the eyes of those that work for them – but also those that look from the outside-in.

It is in this sense we can say that the majority still don’t grasp the concept of sustainability whereby one change can cause a chain reaction in a particular direction, albeit related to business or climate, that can alter how the world works. In combining the attributes of the economy and sustainability, we open up a very complex environment, of which all businesses will learn to navigate over the coming years – or so we hope.

Some of the most critical industries, namely supply chain and energy, are undergoing great shifts to first de-risk, then decarbonise, with a number of social implications along the way. Facilitating this monumental transition requires passionate people with the ability to listen, learn, and act upon the challenges that come their way – true advocates of, not just sustainability, but ensuring environmental prosperity, social justice, and effective governance.

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Eirini Etoimou Head of Corporate Sustainability & Supply Chain Development at Sellafield Ltd energydigital.com

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“ Not everyone is ‘ready’ to listen or to be part of the sustainability journey, but this should not stop us” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD

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Someone with passion and at the same time realism, for sustainability within her sector and beyond, is Eirini Etoimou, Head of Corporate Sustainability & Supply Chain Development and Sourcing at Sellafield Ltd. Etoimou seeks to tackle the challenge at its very core in an industry that is under a watchful eye due to the nature of its nationally important work.

As one of the key centres for nuclear engineering management, Sellafield Ltd is tackling the legacy of the past and building a capability for the future. Having spent over two years with the organisation, heading up supply chain development, strategic SRM, and sustainability practices, Etoimou is well

SELLAFIELD

EIRINI ETOIMOU TITLE: HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AND SOURCING LOCATION: UNITED KINGDOM

aware that it is not realistic to make the company more sustainable in a heartbeat, but instead takes a more pragmatic approach to the task – starting with its people.

Winning the hearts and minds of the workforce One of the key points that Etoimou makes is about action. Ambiguity around sustainability and the different definitions make people feeling intimidated or reluctant to contribute or even to find out more.

Now we’ve all heard the cliche phrase ‘we just need to take action’, but Etoimou’s approach to building sustainability into

Eirini Etoimou is the Head of Corporate Sustainability & Supply Chain Development and Sourcing for Sellafield, and the Chair of the Nuclear Forum of the Institute of Collaborative Working.

She holds a MSc in Procurement, Logistics and Supply Chain Management, MBA in Leadership and Sustainability and speaks four languages.

In addition, she is a visitor lecturer on sustainability and global sustainable supply chains.

Eirini participates as a keynote speaker at UK and international conferences. Additionally, she is an author of academic papers and a contributor to business editions, focusing on sustainability, supply chains, procurement, leadership, business strategy.

energydigital.com

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WATCH NOW

Sellafield Ltd is to transform sustainability from being opaque and complex, to easy, accessible and meaningful for all Sellafield’s people and its partners.

There is a realistic approach here, as Etoimou shares: “not everyone is ‘ready’ to listen or to be part of the sustainability journey; but this should not stop us. We can always focus on the ones that want and are ready. We can identify these areas that can deliver quick wins in order to attract some positive attention and gain more advocates, but we should not fall into the trap of ‘short-termism’.

There are quick wins, but sustainability is equal to the bigger picture and longterm. It is important to pass this message to everyone in the business that would expect immediate results.

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“Considering the nature of our business, and taking a holistic approach, we identified four key focal areas, the interconnectivity of which will allow us to move from ambition to action and to long-lasting results. These areas are aligned supply chains, positive environmental impact, innovative solutions, and motivated people,” says Etoimou.

It is not just about working with advocates but ensuring that their missions align with those of the business because, as Etoimou points out, there are some individuals with a passion in sustainability that can work against the effort to strategically move in the right direction.

“For me pushing back sustainability is equally a problem with the obsessive passion,” says Etoimou. She continues: “In the sustainability journey, we need to work

Use more image captions as often as possible

together. Everyone may have an idea or a thought, but quick, opportunistic raids, won’t help anyone. Sustainability requires structure and focus. Everyone should be clear of the plan, their role; have an idea, have a thought, but share, be aligned, build up on this structure.

This is the reason why I keep avoiding the phrase ‘sustainability strategy’. Instead, I say “I build the strategy for the sustainability integration”. Sustainability is a mindset, and from my perspective, you don’t strategise the mind; work with it, influence it, inspire it”.

“Many years ago, when I realised what sustainability was about, I remember I had a T-Shirt-slogan, ‘I love Sustainability’, approach; back then I thought sustainability was self-explicit, no further details needed.

Obviously, that was a mistake. That was

“ In the sustainability journey, we need to work together.

Everyone may have an idea or a thought, but quick, opportunistic raids won’t help anyone.

Sustainability requires structure and focus” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD energydigital.com

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“ Those who will seriously and strategically integrate sustainability in their businesses, in their projects, they will experience positive financial performance and long-lasting savings” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD

when I realised that I had to personalise my message to every individual or team I spoke to about the subject. So, it was and still is my responsibility to find ways to approach and to bring people along.

“I am not saying it is easy. It requires a lot of time and effort to engage with every single person, but there are ways,” says Etoimou.

“Obviously sustainability is not down to one person, therefore some specific actions can achieve some quick wins. Impact requires more advocates, and you can attract people with a different voice or way of communicating to work with others that you may not be able to.

“This could be somebody’s friend or close colleague with a completely different way of approaching that one person or group of people. However, we need to accept that

some, no matter what, simply don’t want to engage. So, let’s focus and work with the ones that are more receptive.”

You could say that Etoimou refers to a pyramid effect here, whereby working with the right mindset towards sustainability creates a pool of individuals that can carry the message to others – creating a ripple effect throughout the organisation. In doing so, not only does this reduce time to impact others but also the extent of which Etoimou must address individual cases of nonadvocacy or even ‘over-advocacy’.

“I am a big believer of the impact the environment has on you as an individual, and we are affected by other people’s behaviours – so we can be influenced,” Etoimou says.

“Even if one person is not, I doubt that person would remain 100% against sustainability. This is where we discuss equal rights, we talk about our children, our parents, and the environment, there is nothing that this person won’t relate to. It is not black and white, and we start with those that understand it and can support what we are doing.”

There is one major factor among the first steps to bringing teams on board. Making sustainability’s impact more measurable and having an equal share in the business plan or corporate KPIs. “Thinking of a CFO as an example, we need to acknowledge that they are right in some respects. The language is different: they discuss Return on Investment (ROI), Earnings Before Interest, Taxes, Depreciation, Amortisation (EBITDA), and we discuss waste management, carbon reduction, and social value. The ambiguity on metrics and the numerous and inconsistent approaches to measuring sustainability impact does not help either.

“There is also a ‘short-termism’ effect, which means trying to prove energydigital.com

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“ From the awareness level and throughout the supplier journey, sustainability will be there. We are taking an end-toend approach with our supply chain” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD

that a sustainability activity will have an immediate result, and this is where any evidence remains incomplete, and we lack this evidence of sustainability’s value.”

Embedding Sellafield’s principles into the supply chain There’s a common theme here, which is all about taking action on things that are achievable. In an ideal world, Sellafield Ltd would align its entire workforce to sustainability as a way of living and operating as opposed to a strategy. This was stressed

by Etoimou as a staple part of society and how it functions as more than just a means of achieving the climate netzero emissions goal.

When looking at the supply chain the approach is very much similar, whereby feasible actions can be taken to ensure that new companies tendering for contracts with 72

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Sellafield align with its sustainability goals.

The controllable aspect of this is the criteria, which is how the organisation ensures that suppliers meet the necessary requirements to do business going forward.

“We are taking an end-to-end approach with our supply chain. From the awareness level and throughout the supplier journey, sustainability will be there. Considering the nature of our business, which predominantly relies on our supply chain for our purpose of delivery, it only makes sense to work collaboratively with our partners to support, directly and indirectly our sustainability goals,” says Etoimou.

“We want to ensure that we will achieve our goals, but most importantly, that we will contribute so more of our existing and potential partners can appreciate the importance of embedding sustainability principles in their organisations. It is fundamental to have more role models around us; only in this way we can achieve a greater, positive impact.

“Evidently, there is a direct correlation between meaningful business relationships and exponential impact from sustainability actions. In our case, our social value programme, our Six strategy, combined with our environmental strategy, and the carbon management programme, can only multiply and maximise their impact through collaboration with our supply chain.

This provides both parties with the right visibility and understanding of each other’s priorities and maturity level, allowing sharing of knowledge and expertise to advance progress.”

Etoimou then explains the need to align its principles and actions with those of its partners.

“First of all, it is important and only fair for everyone that would like to work energydigital.com

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with us to be aware of our expectations and principles in advance. Our ‘supplier journey’, an interactive guidance tool that describes every step of a supplier’s life cycle within Sellafield, includes among other useful information guidance, sustainability and collaborative working principles. We created a new market engagement strategy, introducing the ‘principles alignment’ and as part of the tender process, new, meaningful, sustainability questions,” says Etoimou.

“We are seeking commitment, not perfection, and we ensure that we cover cases of existing contracts as part of our SRM model”, she explains, “this is as well one of the reasons we decided and recently launched an upskilling programme, initially focused on our SMEs, and we are working with our major partners on a joined socioeconomic programme, ensuring alignment and targeted actions with credible results for our communities.

“Having said that, I still believe that despite all of these being in place, and all the interactions with the supply chain and our colleagues, in principle, all of this is necessary, but still reactive. In the procurement world, sustainability should start from the design phase, but even this is the second step for me. The first step where everything starts with sustainability, is the mindset. Only a person, a team, an organisation with a mature sustainability mindset will design or describe a need embedding these principles; then, all the system will need to serve this need as described, without ‘negotiations’ in the process.”

This re-emphasises the need for a sustainability mindset at the beginning of any design process (no matter if it is the design of a product, service or business model) having and aligning to ESG goals in mind – from 74

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“ I am a big believer of the impact the environment has on you as an individual” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD

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here we begin to paint a picture of how the different stages look with mindset being the vital first step that educates further processes.

“The person or teams to decide that we need this product, service, building, for example, must have the sustainability mindset in order to begin writing the specification in that way”, Etoimou says, and she continues: “the list is long, but incredibly rewarding: emissions, energy, materials, lifecycle value, impact on the communities, supply chain transparency, among others. It becomes exciting when we look at the numbers. Those who will seriously and strategically integrate sustainability in

their businesses, in their projects, they will experience positive financial performance and long-lasting savings.

“I appreciate that numbers matter, but at the same time, for a successful sustainable transformation, we need to invest in the human capital, as this will support and contribute to our social value, competitive advantage, and reputation.

“We are currently working on a number of environmental and socio-economic areas, such as compliance, data, energy & water, carbon management, travel, transport, natural capital, good health & wellbeing, built environment, engineering and climate energydigital.com

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“ We are seeking commitment, not perfection” EIRINI ETOIMOU

HEAD OF CORPORATE SUSTAINABILITY & SUPPLY CHAIN DEVELOPMENT AT SELLAFIELD LTD

adaptation among others. But, in parallel, our priority is investment in sustainability integration. For this reason, we built a new engagement plan to make our people feel that everyone has a role, and everything counts. Within this structured approach, focusing on the same goal, everyone will have the opportunity to initiate, influence, and inspire their social or professional circle.”

It is acknowledged as well that sustainability at this stage does not mean the same for every single person. “It is part of our engagement plan to achieve this minimum level of common understanding, the understanding of the ‘so what’, ‘why’ we need to care, and ‘how’ we can care meaningfully,” she explains.

Etoimou aims this strategy for integrating sustainability into Sellafield Ltd that will likely trigger deliverables through collaboration.

Centring sustainability in the heart of every business decision and culture, organisations can look at sustainability as a characteristic of their business rather than an industry or status or buzzword, meaningful actions can be taken to change the way they approach the subject and begin to consider the bigger picture and the long-lasting results.

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SMART ENERGY

BATTERY VS FUEL-CELL VEHICLES FRIENDS OR FOES? Is it time to end the battle between battery and fuel-cell vehicles, and unite these clean energy sources in the mission for automotive decarbonisation?

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WRITTEN BY: CHARLIE STEER-STEPHENSON

he global scarcity of resources has set a significant challenge against the development of sustainable technology in recent years – especially in the sustainable vehicle industry. As it becomes increasingly acknowledged that no technology alone can drive the sustainability movement onward, it looks more likely that the integration of battery and fuel-cell vehicles will be the best option for companies striving to achieve 100% decarbonisation.

According to leading circular materials technology company, Umicore, the most essential difference between batteries and fuel cells is that the former stores energy which it then uses, whereas the latter generates energy by converting available fuel. Therefore, fuel cells can produce power as long as there is access to fuel.

Interestingly, a fuel cell can also contain a battery component to store the energy it 78

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is generating. Although Umicore’s primary aim is to develop Proton Exchange Membrane (PEM) fuel cell catalysts, the company recognises the benefits of combining the two energy solutions to create electric powertrains that will tackle the clean energy challenge head on: “Both technologies will have their place as a hybrid solution.

Depending on the application, either can be the best answer. It all depends on the needs, demands and conditions of its use.”

While it’s clear that battery vehicles have driven themselves to fame faster than hydrogen cars (especially in the world of passenger vehicles), the two aren’t actually totally pitted against one another. According to Global Spec, as more people begin to switch to clean energy solutions and automotive manufacturers are forced to meet demands for affordable, reliable and sustainable vehicles, it’s likely that hybrid models combining elements of batteries and fuel cells will emerge.

Toyota bZ4X All-Electric SUV energydigital.com

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Are battery electrics or fuel-cell electrics the answer to a clean energy solution?

Many companies and individuals have favoured battery-electric cars for their renowned energy efficiency (since they reuse 80-90% of the energy stored inside), lower running costs and ease of charging.

Tesla, for example, have crafted impressive manufacturing systems to produce high numbers of battery-electric vehicles within a single fleet. Their process of ‘gigacasting’ (producing one giant piece instead of lots of small pieces) has become renowned for the extent to which it reduces the cost and production time for a fleet of electric vehicles – thereby making battery-electric cars more affordable and accessible to a wider audience.

On the other hand, proponents of fuelcell (or hydrogen) vehicles prefer their faster refuelling processes and longer driving range. While a battery-powered electric car requires hours of recharging time, a much

BERND HEID TITLE: S ENIOR PARTNER COMPANY: M CKINSEY & COMPANY INDUSTRY: MANAGEMENT CONSULTING

“ I THINK WE WILL SEE IN THE NEXT YEAR THAT WE WILL NEED BOTH TECHNOLOGIES” BERND HEID

SENIOR PARTNER, MCKINSEY & CO

larger trailer-truck will take only 15 minutes.

For larger vehicles taking multiple rounds of trips in a day, then, fuel cells seem to be the sensible option. Since hydrogen has a higher energy density than batteries, a fuel-cell powertrain will weigh less and consequently allow its vehicle to travel for longer, while carrying heavier cargos.

Recently, green hydrogen mobility solutions company First Hydrogen partnered with fleet management company Rivus to assess the performance of its brand new hydrogen vehicle. Clearly, as hydrogen technologies develop, a range of corporations and their stakeholders are becoming interested in the capabilities of fuel- cell vehicles on a grander scale.

LOCATION: UNITED STATES Bernd Heid is a consulting professional based in New York, United States. He holds a Senior Partner position at McKinsey and has been with the organisations since 2000, making him a veteran by today’s standards of employment period with over 23 years with the business

Toyota Yaris Cross Hybrid Vehicle

Toyota bZ4X All-Electric SUV

“[Rivus’s] findings will showcase our vehicle’s capabilities to a new audience of fleet customers and create market demand. Rivus’ input will help us to optimise performance and will also inform our plans for future vehicle development and deployment. The team’s expertise will also help us to support fleet operators to switch to zero-emission vehicles,” says Steve Gill, CEO Automotive at First Hydrogen.

Additionally, whereas the resources required to produce high amounts of lithium-ion batteries are currently in short supply, the production of fuel cells requires much more common materials (such as 82

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aluminium and stainless steel).

This means that fuel-cell vehicles may seem like the better long-term option for supply chain sustainability.

Combining energy methods to produce a sustainable hybrid solution Although both battery and fuel-cell solutions continue to face criticism for their inability to be completely carbon neutral (mainly due to the disposal of batteries and transportation of hydrogen), they both also produce no tailpipe emissions at all and are clearly kinder to the environment than traditional modes of transport.

SMART ENERGY

“ THE CUSTOMER CAN CHOOSE THE APPLICATION OR THE POWERTRAIN THAT BEST SUITS THEIR LIFESTYLE [AND] THAT BEST SUITS THEIR FLEET’S NEEDS” JACKIE BIRDSALL

SENIOR ENGINEERING MANAGER, TOYOTA

Therefore, many vehicle manufacturers, researchers and consumers have started to recognise the potential that batteries and fuel cells have when their capabilities are put together to power electric vehicles.

“I think we will see in the next year that we will need both technologies,” Bernd Heid, McKinsey & Co Senior Partner, told Automotive News. “The interesting part is that it’s not only dependent on the propulsion technology of the powertrain, but it also has to do with the infrastructure.

And we will see that two infrastructures will be cheaper to society than if we just do allelectric infrastructure.”

Jackie Birdsall, Senior Engineering Manager of Toyota’s Fuel Cell Integration Group, agreed: “Hydrogen and fuel cell electric vehicles are complementary. There’s two different use cases. Our job is to give these zero-emission technologies, to make them available to the customer, and then the customer can choose the application or the powertrain that best suits their lifestyle [and] that best suits their fleet’s needs.”

Heid and Birdsall argue that both batteryelectric and fuel-cell electric vehicles will be needed to achieve global decarbonisation goals. Whereas batteries will likely remain known for their efficient reuse of energy energydigital.com

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Toyota Yaris Cross Hybrid Vehicle

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SMART ENERGY

JACKIE BIRDSALL TITLE: S ENIOR ENGINEERING MANAGER COMPANY: T OYOTA NORTH AMERICA’S FUEL CELL INTEGRATION GROUP INDUSTRY: AUTOMOTIVE LOCATION: JAPAN Jackie Birdsall is the Senior Engineering Manager of the Fuel Cell Integration Group at Toyota Motor North America Research and Development. Her expertise and role at Toyota highlight her significant contributions to the automotive industry in the field of fuel cell technology and integration.

and lower running cost, it’s also probable that fuel cells will become more popular as their capacity for faster refuelling and longer distances becomes more accessible, too – especially as companies like Umicore and First Hydrogen continue to research and experiment with new ways to use hydrogen as a source of clean energy.

Overall, a hybrid solution to the clean energy problem seems to be the best way forward. Since battery power and fuelcell power each have their own benefits and drawbacks depending on the needs, demands and conditions of their use, perhaps it’s time for energy technology and automotive manufacturers to find new ways of combining these power sources.

If we are able to utilise and unite their strengths, it’s likely that the green energy movement will have more capacity to focus on the development of smarter driving solutions and improved operational management to improve the vehicle experience, too. energydigital.com

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DANFOSS DRIVES:

THE JOURNEY TO NET ZERO AND ENERGY EFFICIENCY WRITTEN BY: HELEN ADAMS PRODUCED BY: BILLY EVANS

DANFOSS DRIVES

Danfoss Drives’ Chief Technology Officer Janne Kuivalainen explores the company’s net zero goals, energy efficiency and decarbonising industries

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anfoss Drives is a member of Danfoss Group, a Danish family-owned company, with 42,000 employees, sales in more than 100 countries and factories in more than 20. Danfoss Group is a powerhouse in energy efficiency and electrification, with sustainability at the very centre of the company.

“We are present all around the globe, but we are well-known to few,” explains Chief Technology Officer, Janne Kuivalainen.

“Our ambition is to become our customer’s

preferred choice partner in decarbonisation and we want to create long-term value for our stakeholders, customers, employees, shareholders and partners as the global leader in energy efficiency.”

Kuivalainen began working in the hydroelectric power plant business with ABB, where he learned about the merits of dynamic optimisation of energy production and that high reliability and availability are key drivers for success.

“Energy production optimisation started to raise its head in the 1990s, specifically for

those companies that owned both power plants and factories consuming the electric energy. They started to look at the dynamic optimisation of electricity production and consumption. This is a reality today with distributed energy production.”

Kuivalainen also explored the early days of the industrial ethernet, before joining Vacon Plc in 2005, which he found to be an exciting journey, with the growth of versatile and dedicated solutions. Kuivalainen was the Global Head of Research and Development, when Vacon was acquired by Danfoss. energydigital.com

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JANNE KUIVALAINEN TITLE: CTO, HEAD OF TECHNOLOGY COMPANY: DANFOSS LOCATION: FINLAND Janne Kuivalainen is CTO of Danfoss Drives business, a global leader in AC/DC and DC/DC power conversion, as well as variable speed control for electric motors.

He is a strong advocate of search solutions by offering dynamic and impressive products as innovation platforms for customers. Before his current position, he served as Head of Product Management & Development.

Earlier in his career, he has headed technology with ABB Marine & Ports and R&D with Vacon Plc next to being in power generation sales with ABB. He is passionate about learning, lean, equality and sustainability.

Now, the biggest challenge in Kuivalainen’s role is ensuring an effective and efficient working environment, from the CEO’s office to the factory floor.

“We are very aware that we have had great success in working effectively and efficiently across our teams, and with our people, to help all of us understand the business better every day. I want to emphasise that next to the leaders, we need top-notch key-knowledge experts who are able to then pick up the right priorities, organise efficiently and be inspirational and motivational to their surroundings.”

So far, Kuivalainen’s proudest achievement has been scaling and organising electrification businesses.

“We have a fast-emerging business in electrification,” he explains. “I set up a dedicated team with a startup mentality in 2019, to make room for specific exploration. The green transition has been gathering momentum in recent years, and following the ambidexterity principles for businesses, our team was able to become a business unit in the beginning of 2023.”

Net zero pathways and software engineering create energy efficiency Danfoss Group has one of the world’s strongest portfolio components for decarbonising the three most emissionintensive sectors: industry, transport and buildings.

Danfoss Group committed to reducing its emissions to 46.2% of the absolute scope of Scope One by 2030, 2019 being the base year. The company has also committed to reducing absolute Scope Three emissions by 15% in the same timeframe.

“We have decided that, to reduce our Scope One and Two to zero by 2030, we must use energy-efficient measures, reuse excess heat from the process and source renewable energy.”

As a last resort, the company will offset its emissions.

Danfoss Group has a three-step approach: Reuse, Reduce and Recirculate, which Kuivalainen views as a method of medicine.

The company is introducing energydigital.com

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By Scott Parent, VP & Field CTO, Energy, Aerospace, and Industrial, Ansys

World-class companies use Ansys

Achieving sustainability goals that are crucial to the long-term health of this planet involves consuming fewer of our current resources so more will be available to future generations. Simulation enables companies to save resources, energy, and emissions before products are ever built, and build more energy-efficient products and processes. Digital engineering is key to meeting these goals. It encompasses the design, simulation, optimization, and operation of systems and processes over their life cycles. Two major concepts of digital engineering are sustainability by design and digital twins. Simulation is essential to both concepts.

Sustainability by Design Incorporating sustainability into the design process from its earliest phases is important because more than 80% of a product’s cost, material requirements, and ecological impact are determined during the development and design cycle.

Simulation is crucial to sustainability by design. Using Ansys Granta MI materials database software can help engineers reduce the carbon footprint of a product by finding the best material for the application based on its physical properties and recyclability. Ansys Mechanical can help optimize both the volume and the topology of a component to use as little of the material as possible.

Digital Twins By implementing Ansys Twin Builder, you can improve top-line revenue, manage bottom-line costs, and both gain and retain a competitive advantage. This enables organizations to track the efficiency of the process and monitor any wear and tear. Using software like Ansys Twin Builder, engineers can run simulations on the digital twin to determine any interventions necessary to increase the efficiency or extend the lifetime of the physical mechanism. In many instances, a longer lifetime can mean better resource utilization.

Digital engineering, with simulation at its core, is key in helping to ensure sustainability in product design and operation.

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WATCH NOW

the Danfoss circularity framework (Rethink Reduce Recirculate) as an integral part of its new product development.

By 2030, Danfoss’ ambition is to apply it to all product development.

According to Kim Fausing, Danfoss President and CEO of Danfoss Group, “A third of the reduction needed in energy-related CO2 emissions this decade according to the IEA Net Zero by 2050 scenario must come from improvements in energy efficiency. The good news is that the solutions are there to improve energy efficiency in all sectors. We don’t need to wait. We need action because the greenest energy is the energy we don’t use.”

It is not about how much new green energy can be produced, but how the company can use the energy it has in a much more efficient way. Danfoss Drives is a part

of one very public reference, which is its Project Zero – a public-private partnership in the south of Denmark.

“Since 2007, Project Zero has been able to cut 50% of emissions in the city of Sonderborg. That’s a reduction from 700 tonnes to 339 tonnes of CO2, from 2007 to 2020.”

Software engineering in the age of digitalisation, cybersecurity and IoT Software engineering is not what it used to be. Digitalisation comes with industrial internet connectivity, cybersecurity and data privacy, which is also an important topic in the business environment. Kuivalainen is tasked with working out how to improve and manage this in a sustainable way.

“We have applied DevOps to the embedded systems. The IT industry has energydigital.com

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DANFOSS DRIVES

“ To reduce our emisssions we must use energy efficient measures, reuse excess heat and source renewable energy” JANNE KUIVALAINEN

CTO, HEAD OF TECHNOLOGY, DANFOSS

been using DevOps in development and integrated operations for quite a while.”

The company has now applied that to the embedded software, which requires hardware-software integration, so that Danfoss Drives can carry out testing seamlessly.

Danfoss Drives has been using solutions offered by its partner, Typhoon HIL, in the hardware-in-the loop (HIL) testing.

Continuous integration and delivery requires investments in testing.

“We applied robotic process automation for testing and lifecycle requirements, for example, due to cyber security, which meant that we needed to create an architecture that has these elements built in, so that it’s easy to maintain.”

Kuivalainen knows that Danfoss Drives can increase the performance on a continuous basis for years to come.

“If I look back to the product itself, we have decided on more extensive use of energydigital.com

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“ It has been great to work directly with customers and look at different optimised systems there” JANNE KUIVALAINEN

CTO, HEAD OF TECHNOLOGY, DANFOSS

modelling and simulation. This depends very much on the different physics like thermal, vibration, and EMC simulations.”

Danfoss Drives can generate the software itself for the product, but also the simulation models needed for digital twins, at the same time, from the same source code.

“We envisioned the benefits to ourselves regarding simulation and modelling-based engineering. It has been great to see how we can use it with our customers now.

“Requirements by both customers and regulators will change regarding embedded software. Cybersecurity and data management requirements and regulation will also continue to develop.”

Kuivalainen anticipates that updates will become more common over the lifecycle of a product and they need to be controlled, safe and secure.

“I see that the best practices of it, for example, the DevOps type of operating model is coming into the development of embedded systems as well. It’s a reality for us today.”

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Electrification in manufacturing, sustainability and energy Danfoss Drives electrification solutions can be used across the manufacturing, sustainability and energy sectors. The company has firm ESG targets, ranging from implementing Net Zero to a radical reduction of greenhouse gases.

“We found out there are tools and very much our own products, for this, readily available, which are financially profitable.

Financing of companies is becoming increasingly dependent on how well they do on their ESG journey.”

In manufacturing industries, Danfoss Drives brings the solutions in electrification to the site level, enabling tangible savings in decentralised conveyor systems,

DANFOSS DRIVES

providing drive solutions for local battery-energy storage systems and advanced drive arrangements.

Danfoss Drives and Ansys collaboration empowers digital transformation Danfoss Drives’ collaboration with Ansys started over a decade ago. As the leading provider of multiphysics simulation software, Ansys has the engineering expertise and comprehensive solutions needed to help innovators push boundaries by using the predictive power of simulation.

“What we value with Ansys is their responsiveness in tool development,” said Kuivalainen. “Optimisation requires high fidelity modelling and simulation.”

Throughout Danfoss Drives’ digitalisation journey, Kuivalainen noticed a barrier to entry for new users of the high-end simulation tools, which could be difficult to understand. This caused a bottleneck for product development.

But with Ansys simulation solutions, such as Ansys Discovery, users can quickly understand how to use the tools; achieve fast, high-fidelity results; and explore multiphysics and multiple physics scenarios.

“With Ansys, we can democratise the simulation, making it more available, so that customers get the right support to get started.”

With Ansys Discovery, Ansys Mechanical, Ansys Fluent, Ansys Icepack and Ansys SIwave, Danfoss Drives can combine fast, accurate physics simulations that are easy to use, meaning that this digitalisation is democratised. For example, Ansys Discovery features interactive modelling and multiple simulation capabilities, which enable users to answer critical design questions early 100

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in the design process. This saves time and effort on prototyping as users can explore hundreds of design concepts virtually in the time it would take to build and test just one physical prototype.

Danfoss Drives is also co-innovating with customers with help of simulation and modelling.

“We started to pivot systems in our own application development centres with a customer facing platform. We have physical locations, where we can go to innovate and develop solutions with our customers.”

“ We can help our customers run

earlier full scale virtual testing and performance assessments before they have any physical hardware realised for their product” JANNE KUIVALAINEN

CTO, HEAD OF TECHNOLOGY, DANFOSS

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DANFOSS DRIVES

Danfoss Drives has made a commitment to reduce its emissions,

46.2%

of absolute scope of Scope One, Two GHG emissions by 2030, 2019 being the base year Danfoss Drives has committed to reducing absolute Scope Three emissions by

15%

Danfoss Drives provided hardware in the loop solutions, which Kuivalainen has found rewarding.

“It has been great to work directly with the customers and look at different optimised systems there. We can see how greatly we can help our customers to speed up productive development and run earlier full-scale virtual testing and performance assessments before they have any physical hardware realised for their product.”

Simulation and digital engineering help to transform business at Danfoss Drives, as the company can start work much earlier with its customers looking to develop their next generation of products or systems.

Simulation and modelling systems support software solutions like Ansys Twin Builder which helps the customers to integrate, no matter what tools they are using.

“Simulation modelling helps customers to build better solutions.”

Danfoss Drives makes this easy for its customers, co-developing tools with customers, reaching out and piloting with the customers to understand their needs 102

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and being responsive to change. The simulation and modelling products Danfoss Drives offers to its customers is based on the customers’ needs.

For the next year at Danfoss Drives, Kuivalainen will continue to be more effective in bringing the message to the market of energy savings and opportunities available through the Drives solutions.

“The journey continues, while we look at how we can use the same technologies internally, to drive better quality and productivity,” said Kuivalainen.

AI

Harnessing cloud to accelerate electrification sustainability AWS’ Head of Sustainability & Migration and Modernisation Tobias Kederer’s comments at Sustainability LIVE help energy firms leverage insight from data WRITTEN BY: TOM SWALLOW

T

he global transition towards a more sustainable energy network has intensified over the past few years with energy providers at the heart of it all.

As renewable energy takes centre stage in climate change conversations – such as wind, solar, and hydroelectric solutions – organisations are looking to keep up with growth by means of digital transformation.

Having learned a lot from Tobias Kederer, EMEA Head of Sustainability & Migration and Modernisation at AWS, at Sustainability LIVE London, real-world use-cases of cloud show us how cloud technology can apply in the energy sector.

Data management and analysis in the energy sector One of the key challenges for the energy sector is the management of an abundance of operational data. Organisations strive for greater efficiency in their operations to streamline their approach and reduce the impact of high demand from the grid.

TOBIAS KEDERER TITLE: E MEA HEAD OF SUSTAINABILITY & MIGRATION/ MODERNISATION COMPANY: AWS INDUSTRY: CLOUD COMPUTING LOCATION: GERMANY Tobias Kederer is a prominent figure in the B2B SaaS sector, having co-founded a global customer success think tank and community serving over 1,500 leaders worldwide. He is also familiar with the fundamental aspects of Amazon Web Services, particularly its sustainability transformation.

energydigital.com

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“ If you don’t have the data, how can you measure?”

TOBIAS KEDERER

EMEA HEAD OF SUSTAINABILITY & MIGRATION/MODERNISATION, AWS

Alternatively, managing major energy network infrastructure in a more predictable way requires a significant amount of insight, but consists of data that is usable.

The energy sector has experienced the challenge that comes with data. While it is great to acquire in abundance, it requires strategic management and optimisation to be effective for forecasting demand and energy production requirements – overall better grid management will help reduce reliance on fossil fuels.

Speaking to the audience about the key steps that AWS takes to improve sustainability, Kederer highlights the key stages: migration, optimisation, and transformation. Kederer explains that companies ‘green it, then the fun starts’.

By this we can assume he means assigning data to AWS’ more sustainable services that allow further integration with AI and machine learning.

Migrating data to the cloud is an early task that can reduce the need for on-premise data storage. In doing so, organisations are shifting their data management into third-party data centres, which can therefore undergo further processes, such as optimising the information. As a digital partner in this space, Kederer explains AWS’ approach from there. energydigital.com

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“Think of data aggregation and then using machine learning to detect trends and patterns that allow you to predict likely business outcomes. So you could potentially predict when the next flood hits, you could predict all kinds of things depending on your specific situation,” says Kederer.

In the context of energy, and the highly volatile nature of the current market – as seen during major network disruption – organisations can firstly follow the necessary step of migrating their data to a strategic, more efficient hosting, then consider further 108

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ways to optimise this and understanding the use-cases for data in predicting disruption and forward-planning for risk management.

“This is where our system architects work with our customers and our partners to really optimise the architectural decisions. In some cases, the code that runs takes up all this energy. So migration is the foundation you optimise. But at the end of the day, the issue that we’re facing in climate is a data issue. The data is core to addressing this,” Kederer says.

AI

AWS Energy: Cloud computing services for the energy sector AWS Energy is a specialised sector of Amazon Web Services dedicated to the energy industry.

Partner collaboration: AWS Energy offers a vast network of energy partners, facilitating cooperation and solution harnessing among industry leaders.

Performance boost: Energy professionals can elevate their performance using the extensive facilities and tools from the AWS ecosystem.

Innovative drive: AWS Energy equips the energy sector with instrumental resources, propelling innovative growth and evolution.

Enhanced customer engagement: Through its platform, AWS Energy brings forth methods that markedly uplift the customer journey in the energy sector.

Advanced analytics and machine learning for local insights Energy companies can harness the tools provided by cloud platforms to organise data for meaningful insights. Leveraging machine learning models enables them to predict equipment failures, reducing downtime and maintenance costs.

Similarly, more advanced analytics direct optimal placement of assets to maximise energy output based on the historical data provided from previously developed infrastructure.

Tailored solutions: AWS Energy designs distinct solutions, collaborations, and scenarios exclusively for the energy sector, guiding them in refining processes and championing green initiatives.

Sustainability emphasis: AWS Energy aligns with the shift towards sustainable energy, granting organisations access to expansive, protected cloud services.

Its adaptability ensures efficient data handling and prompt responses by these entities.

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AI

“ Think of data aggregation and then using machine learning to detect trends and patterns that allow you to predict likely business outcomes” TOBIAS KEDERER

EMEA HEAD OF SUSTAINABILITY & MIGRATION/MODERNISATION, AWS

To close this, Kederer’s comment from the show sums up the argument clearly.

The data available to businesses is key – it’s abundant. The challenge for organisations is how they use it to their advantage to leverage its benefits. While organisations may be inclined to start from scratch in their pursuit of data optimisation, cloud service partners – like AWS – already have many of the bases covered.

“Data is growing dramatically. It’s coming from a lot of different sources used by a lot more people. We have a data intelligence shortage. And the cloud can really help you make sense of all the information and help you predict going forward,” says Kederer.

“So if you don’t have the data, how can you measure? How do you know what your carbon footprint is? What does your scope three look like? Do you know? It’s very, very difficult to answer right now, but you have to measure in order to monitor and then manage.”

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DRIVING SUSTAIN

WITH DIGITALIS AD FEATURE WRITTEN BY: MARCUS LAW PRODUCED BY: OLIVER REEK

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SIEMENS ENERGY

NABILITY

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Siemens Energy VP Simona Rossetti on how the company is spearheading the decarbonisation of the energy industry through digitalisation

F

or more than 150 years, engineers at Siemens Energy – one of the world’s leading energy technology companies – have been spearheading the electrification of the world.

The company works with its customers and partners on energy systems for the future, supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage.

“Our mission is to support companies and countries with what they need to reduce greenhouse gas emissions and make energy reliable, affordable, and more sustainable,” describes Simona Rossetti, Senior Vice President within Siemens Energy’s Gas Services Business, who first joined the company’s energy business in 2003.

In 2020 Siemens Energy was founded as an independent company, opening a new chapter in Siemens’ extensive history of energy technology. Its aim today is to energise society.

“An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy,” Rossetti says. “Today we are a team of 94,000 sharing the same passion, vision, and values. Our diversity makes us strong and helps us to find answers together with our partners.”

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Digitalisation and decarbonisation Describing it as our greatest challenge, energy transition poses a number of questions: first and foremost how to reduce greenhouse emissions while also increasing energy supply. “It is an uphill battle, and there is no silver bullet,” Rossetti says.

“But finding solutions has always been in our DNA.” Digitalisation can contribute to decarbonisation in several ways, firstly by making energy production more efficient, meaning the same amount of electricity can be produced with less fuel and fewer emissions.

“Secondly, digitalisation helps to integrate renewable energy sources into the grid by managing power flows, balancing supply and demand, and optimising energy storage,” Rossetti says. “For example, digital control systems such as Omnivise T3000 can help manage the intermittency of solar and wind power by predicting energy output and adjusting supply accordingly.”

Integrated data management is another solution that supports decarbonisation.

“Integrating operations and engineering data can enable engineers to do their jobs more efficiently,” Rossetti says. “Overall, digitalisation can enable the optimisation of energy and resource use, reduce fuel consumption, and promote sustainable practices, contributing to decarbonisation efforts.

“ SIEMENS ENERGY BELIEVES INCLUSION AND DIVERSITY CREATES MORE OPPORTUNITY FOR SUCCESS...

EVERYONE HAS AN EQUAL PART TO PLAY IN ENERGISING SOCIETY” SIMONA ROSSETTI TITLE: SENIOR VICE PRESIDENT COMPANY: S IEMENS ENERGY INDUSTRY: ENERGY LOCATION: GERMANY Simona Rossetti is a Senior Vice President within Siemens Energy’s Gas Services Business. She is leading the Europe and Africa region for all service activities in Controls and Digitalisation.

Her goal is to support all European and African customers with tailored sustainable solutions for servicing and decarbonising their portfolio to secure energy supply and achieve CO2 reduction goals. She aims to directly contribute to business growth and strategic direction of the organization, drive change management, and effectively role model, inspire and mentor the next generation of professionals in the energy industry.

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Digitalisation boosting efficiency in power generation Digitalisation is a potent tool to enhance efficiency in power generation. Siemens Energy offers a number of solutions from their Omnivise portfolio, engineered to refine maintenance operations within power plants and foster predictive maintenance strategies.

The company’s Omnivise Asset Management (OAM) offering is a modern software suite combining deep domain know-how, the latest technologies and methods, and modern software design to support plant personnel.

An example of these capabilities can be seen in the operations of one of Latin America’s largest electricity suppliers, which manages a vast fleet of diverse power generation assets – ranging from fossil to renewable sources. The company, in a bid

to trim Operational Expenditures (OPEX) across its maintenance and operations, wanted to introduce a remote expert centre at its headquarters.

“The OAM software forms the central technical backbone to deliver critical services to their entire fleet of assets,” Rossetti says. “Our solution will enable the customer to reduce operational costs while increasing reliability and availability of key assets at 23 power plants.”

With OAM, Siemens Energy also supports broader use cases from remote operator rounds and inspections all the way to autonomous plants. As Rossetti describes, to reach this milestone there are a number of challenges for plant operators to overcome.

“The growing percentage of renewable energy sources in the grid is steadily increasing the pressure on gas power plants to operate more flexibly and efficiently. energydigital.com

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A massive shortage of skilled control room and maintenance personnel is also looming on the horizon.”

Ultimately, the vision of power plants that operate autonomously is about to become a reality, with increasing advanced technologies increasing the efficiency of the plant itself but also of the plant operators.

“Developers are now taking the next step towards autonomy by fine-tuning digital twins, data analyses, and AI to provide smart forecasts and instructions.

“Autonomy doesn’t start with the autopilot. Long before that, power plants are supported by smart analyses, smart forecasts, smart recommendations, and smart instructions,” Rossetti comments.

“AI-supported analysis algorithms regularly filter out signs of irregularities from the data supplied by cameras, microphones, 118

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and other sensors mounted on the plant or installed on robots, and that request support when needed. Off-site maintenance and control room personnel can support several power plants simultaneously.”

Digital control systems helping manage new challenges in the energy industry The energy landscape is changing and the number of renewable energy sources is growing steadily. With that comes pressure on fossil-fueled power plants to operate more flexibly and efficiently. Digital control systems such as Omnivise T3000 from Siemens Energy can help to manage these new challenges.

This system with its SCADA functionality is capable of managing a variety of different decentralised energy resources including wind offshore, automated, autonomously

and in a coordinated way, ensuring reliable 24/7 operation.

“At the same time, it is flexible and scalable to support a larger number of assets when needed,” says Rossetti. “Omnivise T3000 is the perfect solution not only for fossil power generation and renewables, but also for large and mid-size microgrids, such as IPPs, islands, industries, data centres and mines.”

Together with German utility MVV, Siemens Energy has built and recently put into operation a large-scale heat pump plant at the GKM power plant in the city of Mannheim. The plant uses river water as a heat source, helping to replace a coal-fired power plant.

This new heat pump will be a major contributor to MVV and the City of Mannheim’s goals to become CO2 neutral

“ DIGITALISATION WITH OMNIVISE CAN ENABLE THE OPTIMISATION OF ENERGY AND RESOURCE USE, REDUCE FUEL CONSUMPTION, AND PROMOTE SUSTAINABLE PRACTICES, CONTRIBUTING TO DECARBONISATION EFFORTS” SIMONA ROSSETTI

SENIOR VICE PRESIDENT, SIEMENS ENERGY energydigital.com

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“ AN ESTIMATED ONE-SIXTH OF THE ELECTRICITY GENERATED WORLDWIDE IS BASED ON TECHNOLOGIES FROM SIEMENS ENERGY” SIMONA ROSSETTI

SENIOR VICE PRESIDENT, SIEMENS ENERGY

in heating production by 2030. The facility is expected to supply district heating for 3,500 households and save some 10,000 tonnes of carbon emissions per year.

“Our proven Omnivise T3000 control system integrates the control of the new heat pump and an existing thermal storage into the existing GKM power plant,” Rossetti explains. “The control system uses its multi-unit functionality to manage multiple generation units from a central control room.”

Using data insights to unlock new opportunities to decarbonise A powerful tool to improve operational efficiency and reduce emissions is harnessing the power of data. Integrating operations and engineering data enables engineers to do their jobs more efficiently, while data scientists and modelers use this integrated data to predict the future.

One good example of this, Rossetti describes, is Siemens Energy’s Omnivise Energy Management solution. “Power 120

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producers also have the challenge to sell their energy most profitable. Every day, they have an increasingly complicated decision to make: How can I plan the dispatch of my assets to satisfy market demand, but in the most beneficial way?”

For dispatchers with combined-cycle power plants this question is challenging.

The introduction of renewables like solar and wind can create wider fluctuations in demand for dispatchable energy from traditional power producers.

“When solar and wind are available, they are prioritised on the grid,” Rossetti explains. “This situation leads to shorter market intervals for power generated by fossil-fueled plants. These dispatchers now must access and understand weather data to know when neither wind nor solar will be available, and they will need to fill the generation gap in a cost-efficient way.”

Aimed at solving this problem, Siemens Energy’s Omnivise Energy Management solution combines the power of AI-driven forecasting and predictive asset models.

“With Omnivise Energy Management our customers are able to do rapid multidimensional or multi-branch scenario simulations and create day-ahead and short-term future generations plans that are economically optimised to the plant’s circumstances,” Rossetti says.

Ensuring the safety and security of control systems and customer data As part of critical infrastructure, plants in the energy market must fulfil more stringent requirements than ever before. With the risk of cyber-attacks, this means looking beyond operational concerns and protecting plants against hacker attacks – and documenting compliance according to a wide range of legal requirements. energydigital.com

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As Rossetti describes, thanks to built-in security and Siemens Energy’s comprehensive cybersecurity portfolio, Omnivise T3000 is ideally suited to help operators protect their infrastructure.

“We provide long-term support so you can rely on a system that is always up to date,” she comments. “We support current hardware on a long-term basis and provide tried-and-tested security patches for software at any time during operation.

For our customers, this means long-term security with no downtime.”

One of Rossetti’s most significant career achievements, she describes, has been the spearheading of Siemens Energy’s Cyber Security Operation Center (cSOC) in Germany to help organisations defend against and resolve cyberattacks 24/7.

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“ OUR MISSION IS TO SUPPORT COMPANIES AND COUNTRIES WITH WHAT THEY NEED TO REDUCE GREENHOUSE GAS EMISSIONS AND MAKE ENERGY RELIABLE, AFFORDABLE, AND MORE SUSTAINABLE” SIMONA ROSSETTI

SENIOR VICE PRESIDENT, SIEMENS ENERGY

SIEMENS ENERGY

“The energy sector has become a primary target for cyber-attacks,” she says.

“Collaborating with my dedicated team, I saw the need to develop cybersecurity services that could be seamlessly integrated into our customers’ contracts and help them when confronting the growing cyber threats they are exposed to. To meet this need, I took the initiative to establish a Cyber Security Operation Center (cSOC) for our European customers from the ground up.

“This undertaking allowed us to promptly respond to an emerging trend and fulfill a critical customer requirement with our cyber protection, detection, and monitoring solutions. I am proud of our ability to identify a new industry trend and swiftly create effective solutions to address it.”

The energy transition relies on seamlessly connecting physical assets with digital technologies to foster innovation, reduce emissions, and improve efficiency, but this future depends on strong cybersecurity across the whole supply chain. Siemens Energy’s Managed Detection and Response (MDR) solution provides scalable protection against disruptive cyberattacks in the energy sector using innovative AI. “It defends critical infrastructure against cyberattacks, helping protect communities around the world from supply chain disruptions,” comments Rossetti.

Siemens Energy partners with Amazon Web Services (AWS) to quickly collect and analyse large volumes of data to monitor for cyber threats, giving energy sector chief information security officers (CISOs) energydigital.com

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SIEMENS ENERGY

“OUR PROVEN CONTROL SYSTEM SUPPORTS YOU WITH INNOVATIONS YOU NEED TO BUILD A BRIDGE TO THE ENERGY SYSTEM OF TOMORROW. FOR CONVENTIONAL POWER PLANTS AS WELL AS DECENTRALISED POWER GENERATION WITH RENEWABLE ENERGY SOURCES, FOR ANY PLANTS AND ANY SIZE – PERFECTLY TAILORED TO OUR DIGITAL SOLUTION PORTFOLIO. CONTROL THE ENERGY SYSTEM OF TOMORROW WITH OMNIVISE T3000” SIMONA ROSSETTI

SENIOR VICE PRESIDENT, SIEMENS ENERGY

the power to detect and uncover attacks before they execute. “These secure cloud capabilities that can integrate digital applications and leverage sensitive data – such as real-time monitoring and detection – add an important and cost-effective tool to the defensive arsenal for CISOs and industrial security analysts.”

A wide range of collaborative partnerships Siemens Energy is collaborating with numerous companies around the world, from the marine sector to hydrogen production, from eFuels to heavy industries.

“We are working on open innovation with customers, industrial partners, universities, and research centres like the Karlsruher Institut für Technologie (KIT) in Germany, the Georgia Institute of Technology in the US and the University of Cambridge in the UK.” As Siemens Energy invests in growth and optionality, it has engaged in partnerships with a number of ventures: including joining 124

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the AWS Partner Network as a Technology Partner to provide customers with industrial cybersecurity, analytics and data storage solutions and partnering with Air Liquide on building a sustainable hydrogen economy in Europe.

“At Siemens Energy, our innovation strategy is not just about technology and products. It is about empowering people and partners, both within the company and outside of it, to accelerate progress on the journey to net-zero,” Rossetti says.

“We strive to create a culture and framework where individuals and teams can take ownership of innovation and bring new concepts to market with the goal of better serving our customers and becoming the world’s premiere energy.

“Partnerships represent a key step in helping the power industry drive toward a more sustainable, profitable future and in offering our customers a more efficient solution for their business.”

SIEMENS ENERGY

The importance of inclusion and diversity in energising society Every day, people are treated less favorably or face discrimination because of their ethnicity, gender, religion or ideology, disability, age, or sexual identity. As Rossetti explains, this has to change.

“Siemens Energy believes inclusion and diversity creates more opportunity for success. It doesn’t matter the gender, age, ethnic background, sexual orientation, or disability − everyone has an equal part to play in energising society. Here, more than 94,000 employees worldwide join forces with welcoming colleagues who encourage equality and belonging, to passionately and energetically pursue a shared goal: to shape the energy systems of the future.”

With the energy industry playing a crucial role in addressing climate change and reducing carbon emissions, there has never been a more important time to make positive change.

“The world needs people who do not look the other way when they see or hear racism and discrimination. We can all doa great deal in our everyday lives and at work to make our society more supportive, open, and tolerant.

“At Siemens Energy, we believe that creating a society worth living in involves demonstrating solidarity and creating an environment in the here and now that not only leaves room for diverse identities and lifestyles but also sees them as an enrichment to our lives,” Rossetti concludes. “If we all work together toward this goal, nothing less than great things can come of it – for us, for the future, for all of us.”

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BI-DIRECTIONAL CHARGING TURNS EVs INTO BATTERY ENERGY ASSETS Bi-directional charging is an enabler of low-cost and efficiency and Guillem Ivañez from Wallbox shares the solution’s consumer and commercial benefits WRITTEN BY: TOM SWALLOW

energydigital.com Magazine.com

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T

here are more benefits to be gained from EVs than simply developing more sustainability models for the brands that consumers all know and love.

While many consumers and businesses understand the sense of urgency around climate change and the need to find less pollutant alternatives to fossil fuelpowered cars, there are also many pros to battery-electric vehicles (BEVs) that are yet to be truly leveraged in a renewable energy ecosystem.

Bi-directional charging is one of them, which is often seen as a bonus for drivers, but realistically this could be a gamechanger for homeowners, business owners, and the mobility network at large as it looks to create a more connected mobility system and optimise the use of energy.

To find out more about what it means to have bi-directional charging in place and why this idea was brought to fruition, 130

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Guillem Ivañez (GI), Head of Product, Bi-directional Charging at Wallbox answers our questions on the topic.

TS: What exactly is bi-directional charging?

GI: Bi-directional charging unlocks the power of the biggest battery you will have in your home, your EV battery. Quasar 2 empowers people to take control of their energy consumption by letting them charge when energy is cheapest and send the power back to their homes or the grid when grid energy is expensive. This process is referred to as Vehicle-to-Home (V2H).

In addition, for certain regions, EV users with a Quasar 2 can decide to sell energy back to the grid and build additional revenue streams from their car and charger, this is a game changer for the industry as it will also enable us to improve grid resilience.

This process is referred to as Vehicle-toGrid (V2G).

TS: Where does the idea of “ ONE OF THE KEY bi-directional charging come from?

AREAS IN WHICH GI: Bi-directional charging was born after a natural disaster: Great East coast Fukushima, BI-DIRECTIONAL 2011. After the earthquake and the CHARGING CAN subsequent tsunami, Japan suffered severe blackouts. To accommodate their energy BE USED TO SAVE needs they used EVs during recovery efforts to support rescue and medical personnel.

A BUSINESSES Electricity was required to assist in the MONEY IS THROUGH rescue efforts and CHAdeMO's functionality allowed them to use power from the EVs. INCORPORATING That was the first implementation of CHAdeMO's V2X functionality.

IT INTO ENERGY After this natural disaster Japan developed MANAGEMENT a bi-directional protocol to use EV batteries SYSTEMS” as distributed energy resources to formalise GUILLEM IVAÑEZ

HEAD OF PRODUCT, BI-DIRECTIONAL CHARGING, WALLBOX

the process for future emergencies. Until recently, CHAdeMO was the only protocol that enabled V2X (Vehicle-to-Everything) technology, among the international DC charging standards. energydigital.com

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In 2019, Wallbox launched Quasar, the world’s first bi-directional EV charger for the home, which utilised a CHAdeMO connector. This charger has been utilised by a number of V2X projects globally, including Octopus Energy’s Powerloop project.

At Wallbox we believe that bi-directional charging is a key solution to empower people to get more out of EVs and build a more resilient renewable energy based electricity grid.

TS: How can bi-directional charging save businesses money?

GI: Using the battery of a parked EV as an energy asset is simple. Charge the EV when energy from the grid is cheapest (or even free when you incorporate solar PV panels) and power your business when energy is more expensive.

“ TO SUCCESSFULLY MOVE FROM FOSSIL FUELS TO RENEWABLE ENERGY, WE NEED TO BUILD A NEW PARADIGM” GUILLEM IVAÑEZ

HEAD OF PRODUCT, BI-DIRECTIONAL CHARGING, WALLBOX

One of the key areas in which bi-directional charging can be used to save a businesses money is through incorporating it into energy management systems.

On an individual scale, an Australian winery in the Barossa Valley has adopted a 40-kWh Nissan LEAF lithium battery as the main energy source powering its business. As Nissan LEAF’s are capable of bi-directional energy loading they are able to perform V2H and V2G. Installing our bi-directional energydigital.com

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charger, Quasar, and connecting it to their solar PV system has allowed them to transition from spending US$6,000 annually on electricity to making a profit of about US$50 a week from selling their excess power to the grid, meaning an annual profit of around US$2,500.

On a larger scale, SIRIUS, Wallbox's pioneering energy intelligence solution, balances a number of distributed energy resources, but importantly incorporates 23 bi-directional cars connected to Quasars.

This sophisticated software that was developed to incorporate V2B (vehicleto-building) technology into a commercial energy management system has allowed Wallbox to optimise its energy use, saving 85,000euro per year in electricity bills.

TS: Are there more potential opportunities in bi-directional charging?

GI: A key obstacle to the green energy transition is the inconsistent production of renewable energy sources. The grid needs to match generation and consumption. The more renewables used, the more difficult this becomes.

To successfully move from fossil fuels to renewable energy, we need to build a new paradigm where instead of matching generation to consumption, we couple demand response systems with bi-directional charging to build decentralised energy networks.

Bi-directional charging allows us to use EVs, which will soon be the world’s largest source of lithium batteries, to store energy during peak production periods and use it later to manage energy distribution and stabilise the grid.

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Aside from allowing societies to move to flexible energy consumption systems, bi-directional charging can help: 1. Reduce costs relating to transmission, distribution and transformation infrastructure.

2. Improve grid resilience through decentralised generation and flexible consumption.

3. Alter the status quo by decentralising and democratising energy and providing the end user with tools to optimise and control their energy consumption and gain energy independence.

4. Build a new infrastructure paradigm by using EVs as a decentralised power network connected through bi-directional charger.

An EV can store enough electricity to supply up to 5 homes for 24h, at scale the technology will transform energy networks as we know them.

“ BI-DIRECTIONAL CHARGING UNLOCKS THE POWER OF THE BIGGEST BATTERY YOU WILL HAVE IN YOUR HOME, YOUR EV BATTERY” GUILLEM IVAÑEZ

HEAD OF PRODUCT, BI-DIRECTIONAL CHARGING, WALLBOX

CHARGING & INFRASTRUCTURE

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TS: Can you share any successful examples of cost savings through bi-directional charging?

GI: In February 2020, Wallbox grew by more than 11,000 square metres and exceeded 650 workplaces, and a grid power of 400kW was needed, while that available was only 173kW. Instead of upgrading the grid infrastructure which would have cost more than €500,000, Wallbox developed SIRIUS, Wallbox’s pioneering energy intelligence solution, which harnesses the power of bi-directional charging.

SIRIUS enabled the integration of the electric grid with the company’s distributed energy resources (DERs) composed of 400kWp of solar panels, bi-directional EV chargers, 23 Nissan LEAF and 560 kWh stationary batteries, balancing all DERs in real-time to optimise the building’s energy consumption, reducing the company’s environmental impact and saving money.

By investing around €415,000 in SIRIUS instead of more than €500,000 for grid upgrades, Wallbox reduced implementation time from 12 to 4 months and saved more than €85,000 per year in electricity bills. energydigital.com

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