HP Labs has a press release on their 3 new Green IT initiatives. This is part of the battle between HP and IBM for green data center solutions in the enterprise. Much of what is mentioned in this press release are the same type of things I've seen the IBM guys talk about.

HP today announced new research initiatives from HP Labs, the company’s central research arm, aimed at developing new technologies and business models that leave a lighter carbon footprint.
Initially, HP Labs will focus its research in sustainability on three major projects, including: an industry-first initiative to reduce the carbon footprint of data centers by 75 percent; groundbreaking research to replace copper wiring in servers with laser light beams; and tools for measuring and managing the amount of energy used to develop products.
Sustainability is one of five major research themes of the newly redesigned HP Labs, which recently refocused its efforts to address the most complex challenges facing technology customers in the next decade.
“HP’s long-standing commitment to the environment is second to none in the technology industry. Today, HP Labs extends our dedication with these important research initiatives that will advance the state of the art in sustainable IT,” said Prith Banerjee, senior vice president, research, and director, HP Labs. “HP Labs will lead the industry in developing the technology that could dramatically reduce energy consumption and the carbon footprint of entire industries.”

It is good to see the efforts in optical networking to replace copper is a priority.

Photonic interconnections make it possible to fit dozens, and eventually hundreds, of processors on server system chips. In addition, the optical connections are 20 times more efficient than what is on the market today and will save companies multiple gigawatts of power annually, thus driving down IT costs. The photonic interconnects, which range in distance from 100 meters to 100 nanometers, also enable more flexible system configurations that can be quickly redeployed based on business needs.