LevelTen Energy

Overview

LevelTen Energy is a Seattle-based company that provides renewable transaction infrastructure, facilitating clean energy transactions through its online platform and marketplace. Founded in 2016 by Bryce Smith, the company enables corporate and institutional power buyers to access power purchase agreements (PPAs) from various renewable energy projects, including solar, wind, and storage. As of July 2024, LevelTen Energy has raised a total of $137 million, with the latest Series D funding round attracting investment from significant players like Google and Microsoft, positioning the company at the forefront of renewable energy marketplaces.

Recent Developments

July 2024: LevelTen Energy secured $65 million in Series D funding. The funding, led by B Capital Group with participation from tech giants such as Microsoft and Google, will be used to expand its platform into new markets and enhance its offerings, including a new project for trading "granular certificates" to support 24/7 carbon-free energy goals.
2023: The company partnered with Google and Microsoft to create the Granular Certificate Trading Alliance. This initiative aims to establish a marketplace for trading hourly-matched clean energy certificates, expanding corporate access to 24/7 renewable energy.
December 2023: LevelTen announced its collaboration on a platform to facilitate carbon-free energy generation verification, indicating its strategic direction towards more comprehensive energy management solutions.
September 2023: LevelTen introduced LEAP, a process to accelerate energy procurement through standardized PPAs, reducing negotiation time significantly.
March 2023: LevelTen expanded its partnership with Google Cloud to streamline renewable energy deals, emphasizing rapid transaction capability and broader market access.

Attribute	Information
Founding Date	2016
Headquarters	Seattle, WA
Founders	Bryce Smith
Revenue	Over $14.8 billion in transaction volume since inception
Key Investors	B Capital, Microsoft, Google, Prelude Ventures, among others
Industry	Renewable Energy, Business/Productivity Software
Number of Employees	Approximately 169 as of 2024

Early History

LevelTen Energy was established in 2016 by Bryce Smith, inspired by the need to facilitate cleaner energy transactions through innovative digital solutions. The company's inception was rooted in addressing the complexities and high transaction costs associated with traditional energy purchases. With a vision to democratize access to renewable energy, LevelTen developed an online marketplace that aggregates energy deals, akin to something one might find in a typical financial market. Starting with a small team and funding from a Techstars accelerator program, LevelTen attracted early investments from notable venture firms like Prelude Ventures and Founders' Co-op, focusing on building a robust platform that connects power buyers with project developers efficiently.

Company Profile and Achievements

LevelTen Energy has developed a comprehensive platform that connects renewable energy buyers, advisors, sellers, and financiers to pursue clean energy objectives effectively. Over the years, the company has made several strides:

2018: Launched the LevelTen Energy Marketplace, radically simplifying the PPA process for corporates by offering a wide range of renewable projects.
2020: Partnered with Google to enhance its platform's capabilities through digital innovation and sustainability-driven projects.
2021: Completed a $35 million Series C funding round, significantly supported by Google, intending to scale its renewable transaction infrastructure.
2023: Achieved the facilitation of 42 power purchase agreements, marking a milestone in renewable energy capacity contracted via its platform.
Technological Innovations: Developed MarketPulse for real-time PPA data and analytics, supporting actionable market insights, and introduced LEAP to reduce transaction timelines dramatically.
Granular Certificate Initiative: Collaborated with leading tech firms to develop a platform for trading energy generation certificates, positioning LevelTen as a proactive contributor to carbon-free goals.

Current Operations and Market Position

LevelTen Energy operates the world's largest PPA marketplace, which is crucial for aggregating clean energy demands and meeting sustainability commitments across over 32 countries in North America and Europe. Its platform helps corporate clients handle their energy portfolios effectively by leveraging advanced analytics and streamlined PPA processes. As a leader in transactional infrastructure, LevelTen maintains a strong competitive edge by continuously innovating its service offerings, thus increasing its share in the renewable energy market. Collaborations with leading tech firms further solidify its market position and commitment to expanding its scope to include novel energy solutions like hydrogen power.

Levelten Energy Careers

LevelTen Energy offers a range of career opportunities, focusing on roles that support its mission in the renewable energy sector. The company is known for its inclusivity and offers a mentorship program, the Energy Scholars Program, aimed at providing diverse students the skills needed for a future in clean energy. With a collaborative culture, LevelTen supports professional growth through various development frameworks and networking opportunities.

LevelTen Energy Glassdoor

Reviews on platforms like Glassdoor often highlight LevelTen Energy’s collaborative work environment, competitive compensation, and strong leadership as key factors contributing to employee satisfaction. Feedback typically praises the company’s mission-driven culture and the opportunity to engage in meaningful work addressing climate change through renewable energy solutions.

Conclusion

LevelTen Energy stands out in the renewable energy industry by facilitating efficient and transparent energy transactions through its sophisticated digital platform. With its innovative approach and strategic partnerships with tech giants, the company is well-positioned to lead in expanding access to renewable energy and supporting corporate sustainability goals. As LevelTen continues to invest in technological advancements and market expansions, it remains integral to the global transition to cleaner energy solutions, setting a course for a more sustainable future.