LevelTen Energy is honored to receive a "Business Achievement Award" from the Climate Change Business Journal (CCBJ), which recognizes "outstanding business performance and achievements in the climate change industry." In its coverage of the award winners, CCBJ said that LevelTen Energy received the award in part for helping Starbucks secure a three-project renewable energy portfolio.
The portfolio comprised three separate power purchase agreements (PPAs) with wind and solar farms in PJM, SPP and ERCOT. Whereas most corporations approach PPAs one-at-a-time, this procurement was unique, because it was designed as a portfolio from the start. LevelTen chose three different projects from three different developers, in three different locations, with different technologies (wind and solar), to minimize risk through diversification and to maximize the value of Starbucks' overall portfolio. The three PPAs were nearly identical and were executed at the same time, making the transaction first-of-its-kind.
This would not have been possible without LevelTen's access to PPA supply, innovative technology and standard contracts. To create the portfolio, LevelTen employed our Dynamic Matching Engine, a series of algorithms that calculated which combination of projects, or, more accurately, which combination of project slices, would offer Starbucks the ideal blend of risk mitigation, value creation, and local community engagement. Our Dynamic Matching Engine is fueled by the LevelTen Marketplace, which processes more than a billion data points daily to calculate the value and risk of more than 3,800 PPA offers across North America and Europe. Once the projects were chosen, LevelTen used contracts with nearly identical terms that were acceptable to all three developers, accelerating the contracting process.
LevelTen received the Business Achievement Award in the "Capital Raises" category as a result of the $20.5 million that we raised last year. A portion of those funds were used to expand our services to Europe, and just last week, we announced that European projects are now available on the LevelTen Marketplace.
With the largest collection of PPA offers in the world, the technology to sort through all of the options and select the best PPA (or PPA portfolio), and standard contracts with terms acceptable for all, LevelTen is making it possible for renewable energy buyers (and their advisors) to get deals done faster than ever before. It's all part of our mission: To accelerate the transition to renewable energy.
Renewable energy buyers and advisors who are interested in accessing the LevelTen Marketplace should email firstname.lastname@example.org.