REsurety, Inc., a mission-driven organization dedicated to accelerating the world’s transition to a zero-carbon future, announced the launch of its first-of-its-kind, scalable transaction marketplace to empower and accelerate the clean energy transition: CleanTrade. The new marketplace has been funded by the company’s recent Series C raise, led by S2G Ventures (“S2G”), a multi-stage investment firm focused on venture and growth-stage businesses across energy, food, agriculture and oceans, and Citi with participation from Angeleno Group and existing investors.
Until now, clean energy did not have access to a scalable trading platform or marketplace. As a result, clean energy procurement, trading and risk management have remained opaque, slow and inefficient – both financially and environmentally. The CleanTrade marketplace is a platform for buyers, sellers and traders to provide price transparency and facilitate end-to-end transaction workflows for financially settled contracts for clean energy, or virtual power purchase agreements (VPPAs). Contingent upon approval by the Commodity Futures Trading Commission (CFTC), CleanTrade will provide the first CFTC-compliant marketplace for clean energy, known as a Swap Execution Facility (SEF), and in doing so will empower clean energy markets with price transparency and liquidity as well as end-to-end workflows of structured negotiation, on-platform execution and compliance reporting. It is the only existing platform that allows users to rank trades in terms of what is most and least attractive by the implied cost of the carbon abated, supporting a continued commitment to operationalize the Emissions First Partnership’s principles. In addition to this newly created SEF, CleanTrade supports physical power purchase agreements (PPAs) and project-specific renewable energy certificates (RECs).
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“CleanTrade fills a critical gap in the energy transition’s toolkit, providing the level of price transparency and transaction liquidity that traditional energy has long benefited from but which clean energy markets have sorely lacked,” said Lee Taylor, REsurety’s founder and CEO. “REsurety has a long history of empowering great decisions with data and insights – and with this new offering we now make those decisions actionable at scale. We are grateful for the support of our new investors and partners at S2G and Citi and look forward to continued collaborative success.”
CleanTrade complements REsurety’s existing software platform, CleanSight, an industry leader for insight into clean energy assets and contract performance. CleanSight offers an integrated suite of clean energy software solutions, enhanced by support from REsurety’s deep domain experts, that buyers, sellers and investors have long trusted to identify opportunities and risks, evaluate projects and manage their operational portfolios. Both platforms share the same goal of empowering customers to confidently deploy capital to the highest impact opportunities in the market through transparency, liquidity and impact.
“At S2G, we are committed to supporting innovations that can help accelerate the clean energy transition, and we believe REsurety and its CleanTrade marketplace represent a game-changing platform in this regard,” said Francis O’Sullivan, managing director at S2G. “Our view is that by providing enhanced price transparency and liquidity, CleanTrade can help reduce the barriers to customer adoption of clean electricity and in turn, this will help support further deployments of clean electricity production capacity.”
SOURCE: PRNewswire