LevelTen Energy bags USD 20.5m to grow renewables procurement platform

Collocated solar and wind parks. Photo Credit: Istock

June 4 (Renewables Now) - Seattle-based renewable energy procurement platform LevelTen Energy has raised USD 20.5 million (EUR 18.2m) in a Series B funding round led by Prelude Ventures.

LevelTen Energy is the company behind a number of products and tools that provide data and analytics on utility-scale clean energy projects in North America and allow corporate and other large energy buyers to procure power from renewables. The firm plans to use the raised funds to grow its product suite in North America and Europe and to open its platform to new types of channel partners and service providers.

“In the past year, LevelTen’s products afforded market access to small and medium-sized corporations in North America. With this new investment, we will open the door to an international community of buyers, sellers and service providers, supporting the entire renewable procurement ecosystem,” stated Bryce Smith, CEO and founder of LevelTen Energy.

Apart from Prelude Ventures, other participants in the funding round include: Constellation Technology Ventures, Equinor Energy Ventures, Total Ventures, Avista Development, Element 8 Fund, Founders’ Co-op, Techstars Ventures and Wireframe Ventures.

So far, LevelTen Energy has raised a total of USD 27.3 million, including the latest funding.

(USD 1.0 = EUR 0.888)

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