Transparent Energy Reports Record Growth, Adds $750M in Total Energy Under Management, as Demand from Large Energy Buyers SurgesJanuary 30, 2023
Annual Revenue, New Customers, and New Partnerships Skyrocket as Company Establishes Itself as ‘the Procurement Engine’ of the Energy Transition
Fairfield, NJ – January 31, 2023 – Transparent Energy, the national leader in auction-based energy procurement for renewable energy, traditional power, and natural gas, today announced record revenue and bookings for 2022, a year that saw the company increase clean energy transactions four-fold, drive explosive partner productivity and growth, and attract new customers at a record pace. Set against the backdrop of both a highly volatile energy market and growing enterprise demand for clean power, Transparent Energy established itself as the preferred energy advisory and procurement firm for the Fortune 500, private equity, REITs, and other large energy buyers and their portfolios.
“The volatility that returned to energy markets in 2021 only accelerated in 2022, with natural gas prices at one point cresting $10/Dth, up 5x from lows two years earlier,” said Dustin Scarpa, Co-Founder and Managing Partner, Transparent Energy. “In the face of this volatility and the budgetary risk it introduces, more and more of the largest property holders, building owners, and energy buyers across the U.S. have taken stock of their legacy energy procurement practices and found them lacking.
“At the same time, ESG and sustainability planning entered a new phase, shifting from talk to action, which requires transactional expertise in procuring renewables and traditional energy. Transparent Energy’s leadership in energy procurement puts it at the nexus of these needs, providing large energy buyers a path forward to meet their sustainability goals and power their operations affordably, all while reducing exposure to market risk.”
Another Record Performance
Transparent Energy’s key accomplishments in 2022 included:
- Increasing total energy under management by more than $750 million, adding new Fortune 500s, including a Fortune 10 company, PE firms, REITs, and other manufacturing, data center, and associations to its client ranks.
- Stellar client retention and new customer acquisition. Transparent Energy achieved a 90+% client renewal rate, and 66% of the company’s customers were new clients.
- A 4x uptick in renewable energy purchases for customers.
- Nearly doubling term revenue, with the contribution of channel partners and associations surging, driven in part by the addition of 20+ new partners.
- Growing headcount by 20%, including the addition of retail energy heavyweights Annette Durnack, EVP, Sales and Jeremy Lo, EVP, Corporate Development, while continuing to innovate and invest in processes and technology to rapidly scale.
Concluded Paul Shagawat, Co-Founder and Managing Partner, Transparent Energy, “Energy – understanding it, buying it, greening it, and managing its risks to meet operational cost targets and corporate sustainability goals – has emerged as the strategic business imperative of the decade. As the largest building owners, portfolio holders, and energy users make the shift to treating energy more strategically, they are finding in Transparent Energy an experienced and highly skilled partner to guide, execute, streamline, and safeguard their energy transition.
“At the same time as Transparent Energy’s transactional expertise across renewable energy, traditional power, and natural gas has translated into successive years of record growth, we are actively investing in the people, technology, and processes necessary to scale up to this once-in-a-generation business opportunity and environmental responsibility.”
For more information on Transparent Energy’s market leading energy advisory and procurement services, or to sign up for the company’s monthly market analysis, please see www.transparentedge.com or contact email@example.com.
About Transparent Energy
Transparent Energy is the go-to resource for C&I companies and institutions for renewable and traditional energy procurement and advisory services. The company’s clients include large associations and automotive, cultivation, data center, education, financial services, healthcare, manufacturing, private equity, real estate (REITS and property management), retail, and technology firms. With a proven process delivered by retail energy’s most experienced professionals and state-of-the-art online auction technology, Transparent Energy has driven hundreds of millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.
Dan Mees for Transparent Energy
Mees Communications LLC