Cleartrace Raises $20 Million Financing Led by ClearSky With Strategic Funding From Brookfield Renewable, EDF Energy North America, Tenaska, and Exelon to Help Companies Reach Decarbonization Goals
Successful strategic funding round to accelerate growth for Cleartrace’s advanced carbon and energy management platform serving real estate portfolios, financial institutions, data centers and renewable energy suppliers
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Photo Credit: Cleartrace
Cleartrace illuminates previously unseen data for renewable energy buyers and suppliers. Its product delivers 100% traceable and actionable hourly energy and carbon records for organizations with ESG and/or sustainability goals, such as real estate owners, investors, data centers and renewable energy suppliers. This enables its clients to be proactive leaders in their respective markets and take meaningful steps towards achieving tangible 24/7 decarbonization through load-matched renewable energy purchases or sales. Further, this level of data enables companies to prove when they have achieved their decarbonization goals and report on compliance with local environmental policies.
“Despite the rise in decarbonization goals as part of Environmental Social and Governance (ESG) commitments, energy data today is largely siloed, not validated and non-standardized,” said
“Leveraging Cleartrace’s hourly energy and carbon data positions our business ahead of the market to offer maximum decarbonization for our clients,” said
“There are significant macro effects that are forcing more transparent and granular carbon reporting,” explained
By providing sustainability leaders with auditable data, Cleartrace continues to advance its leadership in the energy and carbon management sector. The investment comes on the heels of the company's series of successful partnerships:
- JPMorgan Chase announced that they will partner with Cleartrace and NextEra to optimize its energy use and manage its carbon footprint;
Iron Mountainannounced that they will partner with Cleartrace across all the US data centers to attain the data needed to achieve their 24/7 load-matched renewable energy goals; and
Brookfield Propertiesannounced that they will partner with Cleartrace to provide 100% load matched carbon free energy to power their commercial real estate property One Manhattan West to exceed standards set by LL97.
As part of the funding, ClearSky, Brookfield Renewable,
Cleartrace illuminates previously unseen data for renewable energy buyers and suppliers, delivering 100% traceable and actionable hourly energy and carbon records. The platform is trusted by the world’s most reputable companies, including JP Morgan Chase, NextEra,
About Brookfield Renewable
Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms. Its portfolio consists of hydroelectric, wind, solar and storage facilities in
Exelon (Nasdaq: EXC) is a Fortune 200 company and the nation’s largest utility company, serving more than 10 million customers through six fully regulated transmission and distribution utilities —
ClearSky is a venture capital/growth equity group that invests in innovative companies, with a special focus on (i) technologies driving the energy transition, climate related technologies, and sustainability, (ii) the digital transformation of enterprise customers’ operations and communications, and (iii) disruptive solutions for cybersecurity, industrial security, and critical infrastructure security.
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