Press Release: LevelTen Energy Shakes Up Renewable Energy Industry in First Year of Operations
February 14, 2019
Seattle-based renewable energy procurement platform launches product suite, expands client roster in 2018
A little over a year ago, LevelTen Energy set out to disrupt the renewable energy industry by launching the LevelTen Marketplace, an online platform for clean energy buyers and sellers that reduces the cost, complexity and risk of corporate power purchase agreements (PPAs). Within a year, LevelTen Energy facilitated the annual procurement of nearly 1.7 million megawatt-hours of renewable energy from 12 new clean energy projects. The company also enabled novel PPA transactions, including a first-of-its-kind collaboration between five global corporations, which procured a total of 42.5 megawatt hours of solar power together. LevelTen’s Marketplace makes such buyer aggregation, a long-time industry aspiration, simple and scalable.
LevelTen’s momentum is fueled by increasing corporate and institutional demand for clean energy procurement. According to the Business Renewables Center, U.S. corporations signed power purchase agreements for a record-breaking 6.43 gigawatts of renewable power in 2018. LevelTen Energy aims to accelerate this growth by reducing friction in the power purchase agreement process.
“The enthusiastic response from companies to LevelTen’s technology and services not only gives me hope for our company’s future, but it also makes me optimistic about the future of renewable energy. By making it easier for companies to secure a PPA, LevelTen is ushering in a new wave of corporate renewable energy procurement,” said Bryce Smith, Chief Executive Officer of LevelTen Energy. “In 2019, we’re putting our foot on the gas, bringing more buyers and project developers together, collecting and sharing more and better data, collaborating with industry partners, and offering more cutting-edge renewable energy solutions. We’ll continue to break down the barriers that prevent buyers from participating in this tremendously exciting market.”
Today, the LevelTen Energy Marketplace showcases nearly 1,600 North American projects from more than 200 clean energy developers, allowing 150 corporate power buyers to identify and execute the lowest risk, highest value PPA contracts. To match these buyers and sellers, optimally, LevelTen recently developed its Dynamic Matching Engine, a renewable energy aggregation technology. The LevelTen Dynamic Matching Engine curates and analyzes massive clean energy project data sets, combining this information with corporate buyers’ procurement priorities to identify and create custom aggregation and portfolio opportunities. The Engine’s algorithms enable companies to execute PPAs in volumes suitable for each buyer, independently, or alongside other specific buyers.
To support its growth, LevelTen Energy moved to a new office in Seattle’s Fremont neighborhood. In 2018, LevelTen’s headcount grew by 100 percent, and the company expects to add headcount across all departments in 2019. Today the company was honored to receive Built In Seattle’s “Best Places to Work” award in the “Small Companies” category.
About LevelTen Energy
LevelTen Energy is a renewable energy procurement platform that reduces the cost, complexity and risk of renewable energy PPAs by connecting buyers and sellers through analytics, aggregation and process best practices. Founded in 2016, LevelTen Energy is located in Seattle.