When most people think of the name Samsung, their focus almost immediately shifts to Android smartphones, tablets, or maybe high definition television sets. The company’s reach, though, is far broader than these devices. In fact, it now encompasses renewable energy technologies and developments in Canada and in Europe, where the company has spent upwards of $150 million on firms that design, develop, and manufacture next-generation solar panels, turbines, and hydrogen products.
Samsung’s move into this area should come as no surprise, especially since the company has stated publicly that it wishes to power most of its manufacturing and server facilities with some sort of renewable energy, based largely on economies of scale and the most effective methods local to each plant. Samsung also believes in economies of scale, and its large investment in sustainable energy is designed to save the company money as it engages in a wide deployment of solar panels, turbines, and related technologies.
Political Partnerships are Part of the Process
In addition to its investments in sustainable energy companies, Samsung is engaging in the political process in many of the markets it serves. In Canada, the company is working with Ontario energy regulators to fit its own business plans into their sustainable outlook over the long-term.
It all adds up to a future for Samsung that involves sustainable tech, political compliance, and a future that no longer relies on the broader fossil fuel industry in any part. It may just be the best effort made by any of today’s major tech corporations.