Energy data software firm Cleartrace raises US$ 20m to increase growth

Jul 4, 2022 11:23 AM ET
  • Energy management software company Cleartrace has safeguarded US$ 20 million in a financing round to speed up the growth of its platform.
Energy data software firm Cleartrace raises US$ 20m to increase growth
Image: Cleartrace

The software platform traces and takes care of by the hour building energy information and carbon strength, allowing customers to record their decarbonisation development.

The funding was led by equity capital team ClearSky in addition to financial investments from Brookfield Renewable, EDF Energy The United States And Canada, Tenaska, and also Exelon. All the aforementioned companies, bar Exelon, will certainly acquire board representation in Cleartrace.

" Despite the increase in decarbonization goals as part of Environmental Social and Governance (ESG) commitments, energy information today is mainly siloed, not verified and also non-standardized," stated Lincoln Payton, Chief Executive Officer of Cleartrace.

" Renewable energy purchasers as well as suppliers need to understand the carbon intensity of the electrical energy they consume or generate-- on a hourly basis-- in order to progress their decarbonization strategies."

The financial investment complies with Cleartrace penciling collaborations with the similarity administration firm Iron Mountain, realty company Brookfield Properties and also financial investment bank JP Morgan Chase's offices.

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