Clean Energy Trading Platform LevelTen Raises $65 Million to Expand into New Markets

Renewable transaction infrastructure provider LevelTen Energy today announced that it has raised approximately $65 million in a Series D funding round. The funds will be used to expand the company’s platform and geographic and market reach.

Founded in 2016, LevelTen provides marketplaces, software tools, and industry intelligence for clean energy buyers and sellers. The company’s platforms include LevelTen Energy Marketplace, connecting clean energy buyers and advisors with power purchase agreement (PPA) opportunities, and LevelTen Asset Marketplace, facilitating the purchase or sale of wind, solar, storage, and other clean energy assets themselves. In April, the company expanded its platform to support the federal clean energy tax pass-through. Additionally, LevelTen offers data products, including MarketPulse and the PPA Price Index, providing real-time information to inform pricing and procurement decisions.

LevelTen said the new capital will help fund the company’s expansion into new markets, enabling it to accelerate the deployment of carbon-free energy projects, including granular certificates – energy attribute certificates that verify when and where carbon-free energy (CFE) is being generated – and clean hydrogen, as well as expansion into new geographies and the company’s ability to serve more types of buyers and sellers.

Bryce Smith, founder and CEO of LevelTen Energy, said:

“The growth of the clean energy sector is astonishing, but the climate crisis requires that we deploy even more clean energy at a much faster pace. Rapidly growing electricity demand is straining our infrastructure and threatening to undermine climate goals. Our existential need to control global warming requires us to scale procurement and bring new technologies to mass markets even faster.”

The financing, comprising both new growth capital and a bond conversion, was led by B Capital, a global multi-stage investment firm, with participation from Aster, Constellation, Google, Intercontinental Exchange, Microsoft’s Climate Innovation Fund, NGP, Prelude Ventures and ZOMA Capital, among others.

Jeff Johnson, General Partner and Head of Climate at B Capital, said:

“At WB Capital, we partner with leading climate entrepreneurs and innovative companies shaping the future through technology. LevelTen is the world’s largest clean energy and asset transaction marketplace and a pioneer in powering the renewable energy industry and beyond. We are excited to support LevelTen’s vision to continue the energy transformation by providing mission-critical solutions to buyers, sellers and advisors around the world.”