Key Takeaways
- ABB made a minority investment in LevelTen Energy through ABB Electrification Ventures.
- LevelTen runs the world’s largest marketplace for clean energy transactions, including power purchase agreements.
- The platform has handled more than 20 gigawatts of clean energy deals across 35-plus markets in North America and Europe.
- The deal combines the company’s electrification and energy-management tools with LevelTen’s procurement platform.
- Financial terms were not disclosed.
ABB Takes a Stake in LevelTen Energy
ABB has bought a minority stake in LevelTen Energy through its ABB Electrification Ventures arm and formed a partnership to help industrial and commercial customers buy long-term clean energy. The companies did not disclose financial terms. The deal ties ABB’s work in electrification, digital tools and energy management to LevelTen’s software for sourcing renewable power.
What LevelTen Energy Runs
LevelTen operates the largest marketplace for clean energy transactions, covering power purchase agreements and the trading of environmental attribute certificates, the credits that verify a buyer’s use of renewable power. The platform has handled more than 20 gigawatts of clean energy deals across over 35 markets in North America and Europe, matching corporate buyers with wind, solar and storage developers.
“Together, we have a real opportunity to help even more customers decarbonize,” said Bryce Smith, Chief Executive Officer of LevelTen Energy.
How ABB Plans to Use the Deal
ABB says the partnership lets it fold renewable procurement into the energy and carbon advisory services it already sells to factories and commercial sites. “LevelTen Energy brings exactly that capability. Through the partnership, ABB will be able to extend its energy and carbon advisory services with renewable energy procurement capabilities,” said Stuart Thompson, President of ABB’s Electrification Service division. The investment came through ABB Electrification Ventures, which has put more than $110 million into 18 startups since 2021.
