French group Veolia aims $1.2 billion in revenue from data centres, chips by 2030


FILE PHOTO: The logo of Veolia Environnement is seen on a waste compactor in Velizy-Villacoublay, near Paris, France, March 2, 2021. REUTERS/Benoit Tessier/File Photo

(Refiles to change ⁠bln to billion in headline, ⁠no changes to story)

LONDON, April 14 (Reuters) - ‌French utility Veolia aims to almost double its revenue from providing energy and water management solutions ​to data centres and chipmakers ⁠by 2030, it ⁠said on Tuesday, betting on strong demand ⁠from both ‌sectors.

The company expects 1 billion euros ($1.18 billion) in annual revenues ⁠from data centres and the semiconductor ​industry, compared ‌to the 560 million euros it ⁠made in ​2025, as it seeks to expand its presence in these fast-growing markets.

The tech ⁠sector's expansion of data centres, ​driven by surging demand for AI following the widespread adoption of ChatGPT, has strained ⁠power supplies and raised concerns over global grid capacity.

Veolia said it planned to use its proprietary technologies to help ​meet rising demand for ⁠integrated solutions in water management, local energy ​and hazardous waste treatment ‌linked to the expansion of ​these industries.

($1 = 0.8477 euros)

(Reporting by Muvija M, editing by Paul Sandle)

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