Press Release: LevelTen Energy’s Dynamic Matching Engine Opens Renewable Energy Market to Hundreds of New Corporate Buyers
January 17, 2019
New software analyzes massive data sets to identify clean energy projects or portfolios that meet the needs of corporate buyers of all sizes
SEATTLE (PRWEB) JANUARY 17, 2019 – LevelTen Energy announced today its Dynamic Matching Engine, a new addition to the LevelTen Renewable Energy Procurement Platform. The Engine curates and analyzes massive clean energy project data sets, combining this information with the corporate buyers’ procurement priorities to identify and create custom aggregation and portfolio opportunities. The Engine’s algorithms enable companies to execute power purchase agreements (PPAs) in volumes suitable for each buyer, independently, or alongside other specific buyers. LevelTen’s Dynamic Matching Engine makes renewable energy procurement easier and less risky for corporations, paving the way for more clean energy projects to get built.
“For companies, the process of identifying the renewable energy projects that truly meet their energy needs and risk preferences has been akin to finding a needle in a haystack,” said Bryce Smith, founder and CEO of LevelTen Energy. “With the LevelTen Dynamic Matching Engine, buyers can take comfort that they’re seeing every relevant PPA contract in the market. That fact, combined with the Engine’s quantitative rigor, allows buyers to identify the best contract for them, in a fraction of the time. Previously, opaque and cumbersome buying processes meant renewable procurement at scale was only viable for a select group of Fortune 500 buyers. Advanced analytics and new aggregation options are significantly reducing cost and risk, meaning that smaller buyers can finally join the party.”
The LevelTen Marketplace continually processes more than 8 million data points on clean energy projects under development across North America to give corporate buyers of renewable energy the most up-to-date information on projects and market conditions. LevelTen’s proprietary Dynamic Matching Engine then analyzes this information to recommend high-value PPA portfolios that accomplish buyer goals. Once presented with a handful of project options, LevelTen Energy advisors then guide buyers in the final step to select the right project and deal configuration.
In recent years, clean energy proponents have lauded aggregation as a key mechanism to bring more buyers to the market. At the same time, buyers have recognized that portfolio approaches to PPA purchases can offer better energy and environmental outcomes at significantly reduced risk. According to Smith, while corporate buyers and project developers quickly saw the environmental and economic opportunity in these emerging renewable procurement models, they faced a daunting manual process.
“The benefits of aggregation were clear, but to manually align multiple parties to execute was extremely difficult,” Smith said. “However, with accurate, current data available in the LevelTen Marketplace, buyers can reduce the project evaluation timeline from many months to a matter of minutes.”
The LevelTen Dynamic Matching Engine, powered by the LevelTen Marketplace, improves the PPA process for everyone involved:
- For buyers, the Dynamic Matching Engine yields deeper insights and better project-buyer matches than those achieved with the naked eye, old-fashioned spreadsheets, or with broker-developer relationships. The resulting customized PPA portfolio and aggregation opportunities maximize value and minimize risk.
- For project developers, the Dynamic Matching Engine brings new buyers to projects in a way that acknowledges volume and credit requirements. Developers, therefore, can finance and build more projects without relying solely on the buying power of Fortune 50s, their personal relationships and endless prospecting.
On example of the Dynamic Matching Engine in action was announced today: five corporate buyers leveraged the technology to jointly procure renewable energy. To learn more, visit the LevelTen Blog.
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.