FB Roundup: Adani Group, Maersk, Ford Motor Company
Adani doubles green investment pledge from rival Reliance
Gautam Adani, India’s second richest tycoon and leader of its infrastructure and energy empire Adani Group, announced a $ 20 billion investment in renewable energy just weeks after rival Mukesh Ambani, the richest person in India, is committed to producing hydrogen for green energy.
Adani (pictured left), 59, told investors last week his group would inject $ 20 billion into clean power generation and component manufacturing as well as transmission and distribution over 10 years. The billionaire industrialist said his conglomerate would also produce the world’s cheapest “green electron”.
Adani is the founder and chairman of one of the three major industrial conglomerates in India. The Adani Group consists of six publicly traded entities worth $ 118 billion, with activities spanning energy, ports and logistics, mining and resources, gas, defense and l aerospace and airports.
The $ 15 billion group intended to triple its renewable power generation capacity over the next four years, make inroads in green hydrogen production, power all data centers with renewable energies and make its ports net zero carbon by 2025. The group planned to spend more than 75% of investment spending until 2025 on green technologies.
Adani’s pledges doubled the renewable energy effort announced by Reliance Industries, the $ 68 billion diversified multinational conglomerate. Reliance’s business interests include energy, petrochemicals, natural gas, retail, telecommunications, mass media and textiles.
India’s most valuable company is run by 64-year-old Ambani (pictured). Earlier this month, the second generation chairman, managing director and largest shareholder of Reliance introduced India as a future global leader in green hydrogen technology by becoming the first country to produce it. less than $ 1 per kg.
Ambani reiterated its pledge to invest $ 10 billion over the next three years in clean energy and hydrogen.
Maersk makes waves with series of e-commerce deals
Maersk, the Danish family-controlled shipping giant, has acquired Portuguese startup HUUB, the latest in a series of deals in e-commerce logistics.
HUUB was launched in 2015 as a cloud-based logistics startup specializing in business-to-consumer warehousing in the fashion industry. Maersk Growth, the venture capital arm of AP Moller-Maersk, first hired the Porto-based company in 2019. Following the acquisition by its parent company, Maersk Growth left the startup with other investors.
Maersk has entered into several transactions in rapid succession to strengthen its integrated logistics. It first acquired Vandegrift, an American customs and logistics services company in 2019, then in 2020, Performance Team, an American warehousing and distribution company, and KGH Customs Services, a Swedish specialist in trade management services. and customs in Europe. Last month, Maersk expanded its presence in e-commerce by announcing the acquisition of US company Visible Supply Chain Management and its intention to acquire B2C Europe.
Analysts expect Maersk’s performance for 2021 to match its combined results of the past nine years and be part of Danish business history. Driven by pent-up pandemic consumption, net income will hit $ 16.2 billion in 2021, according to Bloomberg estimates, from an average estimate of $ 3 billion at the start of the year.
The $ 56 billion company is owned by the Moller family, which owns 69.92% of the voting rights. Ane Maersk Mc-Kinney Uggla (pictured above left), 73, is the youngest daughter of the late shipping magnate Maersk Mc-Kinney Moller (pictured above right). She is vice-president of the board of directors of the company and president of the nomination committee.
The 40-year rationale for automotive environmentalist Bill Ford
Auto heir Bill Ford says he was confronted with “disregard” for his environmental values when he first joined the $ 127 billion company founded by his great-grandfather.
Bill Ford (pictured left), 64, the longest-serving president of all automakers, leads Ford Motor Company’s $ 30 billion investment in electric vehicles (EVs) through 2025. The executive has championed environmental protection and sustainability since he was a next-gen joined the family-owned automaker, but it is only in recent years that investors, colleagues and consumers have caught up his green vision.
“When I joined the company in 1979, I joined as a person with a deep concern for the environment, and I was absolutely appalled that this point of view was not only not shared, but that it was be frankly despised within the company, ”Ford told CNBC.
“Everything has changed now. And, yes, that makes me really excited.
Ford Motor Company is the only US automaker committed to doing its part to reduce CO2 emissions under the Paris Climate Agreement. The company is electrifying its totem vehicles, the Mustang, the F-150 and the Transit, along with other planned products. It has more than 2,300 certified EV dealers in all 50 states. Ford has the largest public charging network in North America, with more than 63,000 charging outlets.
Earlier in 2021, Ford elected two great-great-grandchildren of Henry Ford to its 14-person board of directors, Alexandra Ford English (pictured right), 33, and Henry Ford III, 40. However, Bill Ford has said he is not resigning. just now.
“I feel like I’m adding value to Ford today, maybe more than ever,” said Ford.
“As long as I feel like I’m contributing and being able to work at the rate the company needs me to be, I’ll be there. Someday that won’t be the case and I think I’ll know when that will happen.