LevelTen Energy

Market position

The company describes itself as the leading provider of transaction infrastructure for the energy transition and its platform as the world's largest online hub and two-sided marketplace for renewable energy PPAs and asset transactions. Investor B Capital similarly characterized LevelTen as the world's largest marketplace for clean energy and asset transactions. By July 2024 the platform had facilitated over $14.8 billion in transactions and more than eight gigawatts of clean energy procurement.

LevelTen positions its platform against bilateral, spreadsheet-driven PPA negotiations that historically took months or years, offering centralized supply, comparison of all offers in a market rather than only paid listings, automated financial analysis in place of manual modeling, standardized contracts, and accelerated contracting via LEAP. Its earliest approach bundled wind, solar and other projects into portfolios that could be sliced into customized volumes, making PPAs accessible to buyers smaller than the largest corporations.

Technology

Cloud-based marketplace and analytics software that ingests project and PPA data and calculates more than a billion data points daily to produce what the company calls CFO-Ready analytics: projected NPVs, settlement cashflows, probable-outcome ranges and procurement scenario comparisons. Additional technology components include a Development Maturity Score for project status, online RFP tools with standardized contracts, the LEAP accelerated contracting process, performance monitoring, and a granular certificate trading and management platform under development with Intercontinental Exchange.

Go-to-market

The company sells through demos and consultations booked from its website and works through a partner network of energy advisors and retail electricity providers that source clean energy on behalf of their clients; as of 2024 this network included about 50 energy advisors. It also publishes market analysis, guides, webinars and customer success stories, along with recurring data products such as the North American PPA Price Index, to reach procurement teams.

Corporate and utility clean energy buyers, energy advisors and consultancies, retail electricity providers, renewable project developers, asset owners and financiers. Named users and partners include 3Degrees, Accenture, Constellation, Deloitte, South Pole, X-ELIO, Starbucks and Workday.

Geography

Headquartered at 2211 Elliott Ave, Suite 110, Seattle, Washington, with a European office at Serrano 240, Madrid, Spain. The platform covers North America and Europe; the company reported operating in 32 countries as of July 2024, with marketplace listings spanning 25 countries and a developer network across 35 countries in later company descriptions. Series D proceeds are earmarked in part for expansion into additional geographies.

History

LevelTen was founded in 2016 and launched in 2017, graduating that year from the Seattle Techstars accelerator. It raised $6.8 million in its first round announced in January 2018 and launched the LevelTen Energy Marketplace for PPAs the same year. The Asset Marketplace followed in 2021, alongside a $35 million Series C led by NGP ETP in August 2021 that brought aggregate funding to $62.3 million. In December 2023 the company announced the Granular Certificate Trading Alliance with AES, Constellation, Google and Microsoft; in April 2024 it added support for federal clean energy tax credit transfers; and in July 2024 it closed an approximately $65 million Series D led by B Capital, bringing total capital raised past $125 million.