LevelTen Energy announced an approximately $65 million Series D financing on July 16, 2024. B Capital led the round; Google and Microsoft’s Climate Innovation Fund participated alongside investors including Aster, Constellation, Equinor Ventures, Intercontinental Exchange, NGP, Prelude Ventures, and ZOMA Capital. The financing combined new growth capital with the conversion of notes, so the headline amount should not be treated as entirely new cash.
LevelTen said it would use the funding to expand its clean-energy transaction infrastructure beyond conventional power purchase agreements (PPAs), including tax-credit transfers, granular certificates, clean hydrogen, storage, and additional geographic markets.
As an Amazon Associate I earn from qualifying purchases.
What LevelTen Energy does
LevelTen is not primarily a utility or a power generator. It provides marketplace, data, and transaction infrastructure for commercial clean-energy markets.
Its platform connects corporate and utility buyers with renewable-energy developers, asset owners, energy advisers, financiers, retail electricity providers, and other market participants. According to LevelTen’s funding announcement, the company had facilitated more than $14.8 billion in PPAs, asset sales, and other clean-energy transactions, representing more than 8 gigawatts of clean-energy procurement. Those are company-reported cumulative figures, not LevelTen revenue or assets under management.
#1 Best Overall
LevelTen also said total capital raised since its founding exceeded $125 million. Read the company’s funding announcement.
How the original PPA marketplace works
LevelTen initially focused on helping large buyers arrange renewable-energy PPAs. In a typical process:
- A developer offers output and environmental attributes from a planned or operating wind, solar, storage, or other clean-energy project.
- A buyer defines requirements such as technology, geography, contract term, volume, pricing structure, and risk allocation.
- LevelTen supplies marketplace access, standardized project information, analytics, and request-for-proposal tools.
- The buyer and developer negotiate and execute a contract, potentially giving the project a more predictable revenue stream that can support financing.
A PPA is not necessarily a direct electricity-delivery contract. Many corporate arrangements are virtual or financial PPAs: the buyer remains connected to the grid and settles the contract against wholesale-market prices, while renewable-energy certificates (RECs) or other environmental attributes are handled separately.
What’s actually slowing this PC down?
Pick the symptom - the matching free tool is one click away.
Why the marketplace matters to corporate buyers
Clean-energy procurement is difficult to compare and negotiate. Projects can differ in development stage, interconnection status, transmission exposure, expected output, credit quality, curtailment provisions, and contract terms. Buyers also need to consider whether a project’s environmental attributes satisfy their reporting and sustainability requirements.
LevelTen’s pitch is that standardized information and transaction workflows can reduce the time required to identify and evaluate projects. The company says its LEAP—LevelTen Energy’s Accelerated Process—reduced a conventional PPA process that can take roughly 12 months or longer to approximately 100 days in procurements described with Google. LevelTen has also described this as an approximately 80% reduction. These are company-reported results, not an independently audited industry benchmark. LevelTen’s account of the Google procurements.
The platform is broader than PPAs
Energy Marketplace
LevelTen’s Energy Marketplace is designed for comparing clean-energy offers and evaluating developers, projects, and commercial terms. Its current product page contains marketplace information and metrics that may change over time; those current figures should not be confused with the company’s July 2024 operating numbers.
Asset Marketplace
The Asset Marketplace addresses transactions involving underlying renewable-energy assets rather than only the purchase of a project’s electricity output. That can matter to developers selling projects or portfolios, infrastructure funds, strategic buyers, and financiers. It does not function as a consumer solar-shopping site or a turnkey residential investment product. See LevelTen’s asset-marketplace announcement.
Tax Credit Marketplace
LevelTen said it expanded its platform to support transfers of federal clean-energy tax credits. Transferability under the Inflation Reduction Act created a market in which eligible credit holders can transfer credits to buyers with appropriate tax capacity.
A marketplace can help identify counterparties and organize information, but it does not automatically make a credit eligible, guarantee its value, or replace tax and legal diligence. Eligibility, documentation, timing, transfer terms, and the buyer’s tax position all matter.
MarketPulse and the PPA Price Index
LevelTen’s data and analytics products are intended to help participants assess PPA pricing and market conditions. They are decision-support tools, not substitutes for legal review, engineering diligence, interconnection analysis, financial modeling, or counterparty-credit assessment.
Rank #3
- book
- A Guide to the Project Management Body of Knowledge (PMBOK Guide) – Seventh Edition and The Standard for Project Management (ENGLISH)
Why Microsoft and Google are strategic participants
Microsoft and Google have large electricity loads and ambitious carbon-free-energy goals. Their data centers—and especially the expansion of artificial-intelligence infrastructure—are increasing pressure to secure additional electricity supply and improve the precision of clean-energy claims.
Free tools Windows power users keep installed
One-click scans. No signup required.
Annual matching generally means acquiring enough renewable-energy attributes over a year to cover annual consumption. A more demanding approach, often described as 24/7 carbon-free-energy matching, seeks to match consumption with carbon-free generation in more specific hours and locations.
Better transaction infrastructure could help large buyers find projects, compare offers, arrange contracts, and track environmental attributes. But Microsoft’s and Google’s participation does not mean they led the financing, guarantee LevelTen’s commercial success, or solve the physical and financial challenges of hourly clean-energy matching.
Granular certificates and the 24/7 challenge
Traditional RECs generally represent the environmental attributes associated with one megawatt-hour of renewable generation. Granular certificates are intended to record more precise information about when and where carbon-free electricity was generated.
That added detail could help buyers evaluate whether their electricity demand is being matched by carbon-free supply during particular hours. It could also create more informative price signals for resources such as batteries, hydropower, nuclear generation, wind, and solar.
Recommended Free Tools
Rank #4
- Harvard Business Review Project Management Handbook: How to Launch, Lead, and Sponsor Successful Projects
- Harvard Business Review Press
- BLANK BOOK
LevelTen, AES, Constellation, Google, Microsoft, and Intercontinental Exchange announced a collaboration to develop trading infrastructure for granular certificates. Read the collaboration announcement.
Granular certificates are an accounting and market-infrastructure mechanism; they do not automatically prove that a company’s load was physically supplied by carbon-free electricity every hour. Their credibility depends on measurement, verification, location rules, transmission constraints, additionality standards, and protections against double counting.
Expansion into hydrogen, storage, and new markets
LevelTen said the Series D capital would support expansion into clean hydrogen and other adjacent climate technologies, as well as broader geographic coverage and products such as tax credits and granular certificates.
The strategic idea is to reuse marketplace, procurement, data, and transaction capabilities in markets beyond traditional wind and solar PPAs. However, the announcement described clean hydrogen and related areas as expansion targets. It should not be read as evidence that LevelTen already operated a large, mature hydrogen marketplace in July 2024.
Crashes, No Sound, or Screen Glitches?
Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteWindows Errors? Fix Them Before They Spread
Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallWhat buyers and developers should evaluate
For corporate energy buyers
- Whether the contract is physical or virtual, and how settlement works.
- Basis, congestion, transmission, curtailment, and wholesale-price risk.
- Project construction, permitting, interconnection, and development status.
- Contract term, price structure, volume, REC ownership, project vintage, and additionality.
- Geographic and hourly matching requirements.
- Counterparty creditworthiness and tax-credit assumptions.
A marketplace can improve discovery and workflow efficiency, but it cannot remove project, regulatory, engineering, financing, or counterparty risk. Buyers still need qualified legal, tax, technical, and financial advisers.
Best Value
For project developers
Potential advantages include exposure to qualified buyers, standardized project presentation, procurement support, market-pricing information, and access to asset or tax-credit counterparties. Participation does not guarantee a PPA, financing, construction start, or asset sale. Greater price transparency may also increase competition and pressure project margins, while standardized processes may be less suitable for unusually structured projects.
For investors
The important questions include how LevelTen monetizes its platform—through software, transaction fees, data, advisory services, or a combination—and how much revenue is recurring versus transaction-based. Investors should also distinguish gross transaction value facilitated by the platform from company revenue, and consider whether expansion into tax credits, certificates, storage, and hydrogen can produce durable marketplace liquidity.
What the funding does—and does not—mean
The round is best understood as an investment in clean-energy market infrastructure. It is not simply a bet on a website listing renewable projects. LevelTen is positioning itself as a transaction layer for increasingly complex procurement: PPAs, project assets, transferable tax credits, market intelligence, and more granular environmental attributes.
The Tool Desk
Outbyte Driver Updater FREEScan for outdated or missing drivers - takes under a minuteDriver Scan →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →The funding also does not mean that corporate procurement has become simple. Large buyers still face long-term price exposure, grid constraints, project-development risk, complex contract negotiations, and difficult questions about what clean-energy certificates actually demonstrate.
The Bottom Line
Bottom line: LevelTen’s approximately $65 million Series D, announced July 16, 2024, was led by B Capital, with Microsoft’s Climate Innovation Fund and Google among the participants. The capital was intended to help LevelTen evolve from a PPA marketplace into broader transaction infrastructure for corporate clean-energy procurement, including tax credits, granular certificates, storage, hydrogen, and new markets.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
