LevelTen Energy Expands Carbon-Free Energy Infrastructure With New $65M Funding

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LevelTen Energy has secured $65 million in Series D funding to enhance its platform, expand into new markets, and support the development of clean energy projects. The funding will also back innovations like the Granular Certificate Trading Alliance and the Accelerated Process technology. These advancements aim to meet the rising global demand for renewable energy and support industrial decarbonization efforts.

LevelTen Energy’s Landmark Series D Funding Round

LevelTen Energy has recently secured $65 million in a Series D funding round. This significant financial boost aims to propel the company’s growth in the clean energy sector. The funding round was led by B Capital, with contributions from major investors including Aster, Constellation, Equinor Ventures, Google, Intercontinental Exchange (NYSE: ICE), Microsoft’s Climate Innovation Fund, NGP, Prelude Ventures, and ZOMA Capital. This investment underscores the confidence of these firms in LevelTen Energy’s capability to accelerate the deployment of carbon-free energy projects globally.

The Power of the LevelTen Platform

LevelTen Energy’s platform serves as the world’s largest online hub for carbon-free energy transactions. It connects energy buyers, sellers, advisors, asset owners, and financiers, facilitating efficient and transparent deals. The platform offers a range of tools and features designed to streamline transactions, such as the LevelTen Energy Marketplace and the LevelTen Asset Marketplace. The marketplace for power purchase agreements (PPAs) has enabled over $14.8 billion in transactions, significantly aiding the procurement of clean energy. The platform’s effectiveness is reflected in its facilitation of more than eight gigawatts of clean energy projects, a capacity sufficient to power the city of Barcelona.

Scaling Clean Energy Projects with New Investments

The recent $65 million funding will be strategically used to enhance the LevelTen Platform and expand its reach. Key areas of investment include the development of new markets and the introduction of innovative technologies to further accelerate clean energy project deployment. The funding will support the expansion into additional geographies, catering to the global demand for carbon-free energy solutions. By broadening its market presence, LevelTen Energy aims to meet the increasing needs of multinational customers striving to achieve their emissions-reduction goals.

Driving Innovations in Clean Energy Transactions

The Series D funding will also back several technological advancements within the LevelTen Platform. One notable innovation is the Granular Certificate Trading Alliance, a collaboration with AES, Constellation, Google, and Microsoft. This initiative focuses on developing a platform for trading and managing granular certificates, which verify the time and location of carbon-free energy generation. Additionally, the LevelTen Energy’s Accelerated Process (LEAP) technology will be further enhanced. LEAP dramatically reduces procurement timelines by 80%, facilitating faster and more efficient PPA contracting. These innovations are crucial for keeping pace with the growing demand for clean energy and supporting ambitious sustainability targets.

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Meeting the Growing Demand for Clean Energy

Global demand for clean energy is escalating, driven by the urgent need to address climate change and the increasing electricity requirements of modern economies. LevelTen Energy’s platform is essential in this landscape, providing solutions that help utilities and corporate buyers secure renewable energy supplies efficiently. The platform’s ability to connect a diverse array of energy buyers with numerous project developers ensures that clean energy procurement is both accessible and streamlined. By simplifying the process of securing power purchase agreements, LevelTen Energy enables faster deployment of renewable energy projects, contributing to the global shift towards sustainable energy sources.

Supporting Industrial Decarbonization and Clean Hydrogen

LevelTen Energy is not just focusing on traditional renewable energy projects; it is also playing a critical role in industrial decarbonization. Industrial activities are responsible for a significant portion of global greenhouse gas emissions, and reducing these emissions is crucial for achieving climate goals. LevelTen Energy is a founding member of the H2DI initiative, led by the Energy Futures Initiative and selected by the U.S. Department of Energy. This initiative aims to manage the H2Hubs demand-side support mechanism for clean hydrogen, a key element in reducing industrial emissions. The company’s expertise in transaction infrastructure and clean energy project development positions it well to contribute to the success of this $1 billion program, which seeks to advance industrial decarbonization through the adoption of clean hydrogen technologies.

Expanding Network and Market Intelligence

LevelTen Energy’s expansive network is a cornerstone of its success. The platform connects over 1,000 project developers across North America and Europe with a wide array of corporate and utility buyers. This extensive network is supported by advanced market intelligence tools like MarketPulse and the PPA Price Index. These tools provide up-to-date, real-world data that informs pricing and procurement decisions, enabling market participants to make well-informed choices. By offering comprehensive data and analytics, LevelTen Energy ensures that its users have the insights necessary to navigate the complex clean energy market effectively. This network and intelligence support the company’s mission to accelerate the global energy transition.

LevelTen Energy’s Vision for a Carbon-Free Future

The recent $65 million Series D funding marks a significant milestone for LevelTen Energy, highlighting its pivotal role in the clean energy sector. This investment will drive the expansion and enhancement of the LevelTen Platform, supporting the global deployment of renewable energy projects. By facilitating efficient transactions, introducing innovative technologies, and expanding its market reach, LevelTen Energy is set to make substantial contributions to the global transition to carbon-free energy. The company’s commitment to addressing the world’s most pressing energy challenges underscores its vision of a sustainable, carbon-free future.

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