JPMorgan shares patents to spur low-carbon technology development By Reuters

© Reuters. FILE PHOTO: A view of the outside of the JPMorgan Chase & Co company headquarters in New York Metropolis Could 20, 2015. REUTERS/Mike Segar

By Elizabeth Dilts Marshall

NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) on Thursday mentioned it will permit others to make use of its mental property in hopes of dashing up the transition to low-carbon expertise and power sources.

The financial institution is making a number of key patents associated to the way it effectively cools and ventilates its large information facilities accessible to anybody utilizing low carbon applied sciences as a part of a joint pledge initiated by Microsoft Corp (NASDAQ:), Fb Inc (NASDAQ:) and Hewlett Packard Enterprise (NYSE:) Co.

Launched in April this 12 months, corporations have shared greater than 450 patents as a part of the pledge, shining a light-weight on the expertise these corporations 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 expertise.

As a part of their expertise infrastructure, JPMorgan and different main corporations use large information facilities, which devour huge quantities of power for cooling and air flow to stop programs from overheating.

Whereas some corporations, together with JPMorgan, have moved some functions to a public cloud, monetary companies corporations have remained largely reliant on non-public information facilities as a result of they’re thought-about 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 heart. The financial institution’s annual expertise price range 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 vital expertise accessible to innovators who’re growing options that deal with local weather change is vital to that effort,” mentioned Wooldridge.

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