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LevelTen Energy

LevelTen Energy

LevelTen Energy provides a clean energy procurement platform for midsize businesses and enterprises.

Overview

LevelTen Energy provides a global, technology-enabled renewable energy marketplace and procurement platform, with over 4,000 power purchase agreement (PPA) offers across 21 countries in North America and Europe. The platform features risk and value assessment services as well as proprietary performance monitoring software with settlement payment verification and performance metrics tracking functionality.

The LevelTen Marketplace

The LevelTen Marketplace offers automation software, data management, and standardized contracts for buyers, sellers, advisors, and financiers. It was launched in early 2018, and since then Fortune 500 companies have procured more than one billion dollars worth of renewable energy through its tools and services. The platform features dynamic matching, RFP automation, PPA advisory services, and PPA performance monitoring.

CFO-Ready Analytics

LevelTen’s proprietary CFO-Ready Analytics software auto-calculates more than a billion data points each day to deliver PPAs or portfolios to clients, comparing and evaluating the approximate net present value (NPV) of contracts to provide actionable market intelligence.

Dynamic Matching Engine

LevelTen Energy’s Dynamic Matching Engine curates and analyzes large sets of data on clean energy projects under development. Under the supervision of LevelTen experts, this technology identifies the optimal available utility-scale wind, solar, and storage projects for individual corporate buyers. The buyers then get the option to execute the PPA contracts individually or in partnership with other customers.

Performance Monitoring

LevelTen’s Performance Monitoring enables access to real-time data on the PPA portfolios of organizations, providing tools designed to help managers manage time and expenses and the potential of renewable energy investments.

RFP Automation

The RFP (request for proposal) Automation tool is custom-built for the purpose of efficient renewable energy procurement. Following the creation of an RFP, LevelTen offers review and consultation services, actively participating in the process.

The LevelTen Portfolio Model

The LevelTen Portfolio Model offers various solutions for both enterprise and mid-market companies pertaining to diversification, location, quantity, and scale pricing.

Diversification to mitigate risk
Project diversification
  • Location: Diversifying project locations can mitigate the effects of unpredictable market dynamics. For instance, a surfeit of new project development in Texas could reduce prices in the West Zone in ERCOT (Electric Reliability Council of Texas).
  • Technology: The volatility of a PPA investment can be diminished by creating a portfolio incorporating alternate technologies, such as wind and solar, that tend to be the most productive under different or opposing circumstances. For instance, solar production is higher during the day and wind production is generally higher in the evening.
Developer diversification
  • Execution risk: Contracting with multiple projects reduces risks associated with developer performance at the pre-operational stages.
  • Operation risk: Since power buyers normally rely on operators to manage the project, the creation of a several-asset portfolio mitigates operational risk associated with single assets.
Location and quantity
  • Besides diversifying risk, the PPA portfolio model takes into account particular power consumption configurations, meaning that if a company has stores and warehouses in a wide range of locations, the geographic diversification is reflected by the proposed renewable energy purchases.
Scale pricing benefits
  • Midsize corporations can use LevelTen’s aggregated buyer system by establishing joint ventures and accessing economically advantageous projects. Formerly this option was only available to large corporations.
Expansion to Europe

Originally operating exclusively in North America, in October 2019 LevelTen Energy announced the expansion of its renewable energy marketplace to Europe; on March 26, 2020 the company released its first European RFP on behalf of an RE100 member with proposals from European sellers ranging from 50 to 500 megawatts.

Since LevelTen’s expansion to Europe, the company has more than doubled the rate of signing up developers. Following LevelTen’s first European RFP, the company signed up 100 new developers in less than six months. Outside the US, LevelTen's Marketplace operates in the UK, Ireland, Spain, France, the Netherlands, Germany and Italy.

Funding

LevelTen Energy participated in the Class 92 - Seattle 2017 Q1 cohort of Techstars and raised an estimated $7,800,000.

In 2019, LevelTen Energy raised $20,500,000 through Series B financing led by Prelude Ventures.

Timeline

June 2019
LevelTen Energy raises a $20,500,000 series B round from Element 8, Founders' Co-op, Prelude Ventures, Total Carbon Neutrality Ventures and Wireframe Ventures.
October 2017
LevelTen Energy raises a $6,800,000 series A round from Avista Corporation, Avista Development, Element 8, Founders Fund, Founders' Co-op, Prelude Ventures and Wireframe Ventures.

Funding rounds

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FinSMEs
August 25, 2021
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Hazel Davis
April 8, 2021
Business Insider
Biofuel exec Keith O'Connor said "a combination of collaboration, complementary renewal technologies, accountability, and investment" will build a strong and sustainable zero-carbon economy."
Benji Jones
December 17, 2020
Business Insider
The pandemic sent shockwaves through the energy industry in 2020. What's in store next year? We put that question to 24 industry experts.

References

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