Tata Consultancy Services Ltd., Asia’s largest information-services provider, will increase its focus on renewable-energy technologies and cloud computing, the company’s global head of venture capital said.
“These are the growth engines of the future,” Ajoy Mallik said in an interview in Tel Aviv, where he was attending a Landmark Ventures business conference. Mallik named wind, water, biomass and fuel cells as technologies he plans to investigate.
“I am hoping to get new ideas in Israel,” he said. Mallik, who also heads the co-innovation ecosystem initiative at the Indian company, is based in Santa Clara, California.
The International Energy Agency said last year that global subsidies for clean and low-carbon energy totaled $57 billion in 2009. HSBC Holdings Plc in that year estimated that world governments had allocated about $521 billion over five years in so-called green stimulus spending as they tried to promote more efficient industries in the wake of the financial crisis.
