The $50B Clean Energy Problem Nobody Talks About (Until Now)
In this conversation with New Perspective’s Dunja Jovanovic, Lee Taylor, founder and CEO of REsurety, discusses the company’s mission to accelerate the transition to a zero carbon future through innovative software and services for the clean energy ecosystem.
He highlights the challenges in clean energy trading, the introduction of CleanTrade as a solution, and the importance of transparency and liquidity in the market.
Additionally, Taylor shares insights on marketing strategies and the significance of measuring impact in decarbonization efforts.
BOSTON, Mass. – October 15, 2024 – REsurety, Inc., a mission-driven organization dedicated to accelerating the world’s transition to a zero-carbon future, today 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).
“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.”
O’Sullivan has joined REsurety’s board of directors.
The development of CleanTrade’s innovative digital platform initially grew from Citi’s Commodities division in Markets. CleanTrade is a great demonstration of Citi’s innovation strategy to identify market problems and develop solutions that drive market opportunity and serve clients.
“With REsurety and Citi’s long-standing partnership, it was a natural fit for REsurety to take this on, further develop the platform, and provide the clean-energy economy with a robust diverse product offering,” said Siris Singh, global head of markets strategic investments at Citi.
REsurety’s Founder and CEO Lee Taylor Introduces CleanTrade
About REsurety
REsurety is a mission-driven organization dedicated to accelerating the world’s transition to a zero-carbon future. We provide software and services to support both the financial and sustainability goals of clean energy buyers, sellers, and investors. Our software offers data-driven insights at various stages of the project lifecycle from initial exploration to portfolio management. Our services leverage our domain expertise and deliver solutions tailored to the unique needs of our customers. For more information, visit www.resurety.com or follow REsurety on LinkedIn.
About S2G Ventures
S2G is a multi-stage investment firm focused on venture and growth-stage businesses across energy, food, agriculture, oceans and energy. The firm provides capital and value-added resources to entrepreneurs and leadership teams pursuing innovative market-based solutions that S2G believes are cheaper, faster or better than traditional alternatives. With a commitment to creating long-term, measurable outcomes, S2G structures flexible capital solutions that can range from seed and venture funding through growth equity to debt and infrastructure financing. For more information about S2G, visit s2gventures.com or connect with us on LinkedIn.
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