JPMorgan shares patents to spur low-carbon technology development
A view of the outside of the JPMorgan Chase & Co company headquarters in New York Metropolis Could 20, 2015. REUTERS/Mike Segar
NEW YORK, Oct 7 (Reuters) – JPMorgan Chase & Co on Thursday mentioned it might permit others to make use of its mental property in hopes of dashing up the transition to low-carbon know-how and vitality sources.
The financial institution is making a number of key patents associated to the way it effectively cools and ventilates its huge information facilities accessible to anybody utilizing low carbon applied sciences as a part of a joint pledge initiated by Microsoft Corp , Fb Inc and Hewlett Packard Enterprise Co .
Launched in April this yr, firms have shared greater than 450 patents as a part of the pledge, shining a light-weight on the know-how these firms are utilizing to mitigate their carbon footprints.
Majid Al Futtaim and enterprise software program firm Micro Focus additionally shared patents on Thursday, together with Micro Focus’s patents associated to wind turbine administration know-how.
As a part of their know-how infrastructure, JPMorgan and different main firms use big information facilities, which devour huge quantities of vitality for cooling and air flow to stop techniques from overheating.
Whereas some firms, together with JPMorgan, have moved some purposes to a public cloud, monetary companies firms have remained largely reliant on non-public information facilities as a result of they’re thought of essentially the most safe choice.
JPMorgan doesn’t disclose details about its information facilities. However it was reported in 2012 that the financial institution spent $500 million to construct only one middle. The financial institution’s annual know-how finances usually runs round $12 billion.
The financial institution’s head of mental property Daryl Wooldridge mentioned the corporate was making the patents accessible to again up the financial institution’s dedication to the worldwide Paris local weather accord.
“Making important know-how accessible to innovators who’re creating options that deal with local weather change is important to that effort,” mentioned Wooldridge.
Reporting by Elizabeth Dilts Marshall; Modifying by Emelia Sithole-Matarise and Nick Zieminski
:
