Total Bookings Soar 42%, Total Energy Procured Surges 135%, and Renewable Energy Volumes Leap by Nearly 200%
FAIRFIELD, N.J., Aug. 28, 2024 (GLOBE NEWSWIRE) — Transparent Energy, the national leader in auction-based energy procurement for renewable energy, traditional power, and natural gas, today announced year-over-year bookings in the first half of 2024 soared 42 percent and total energy-spend managed on behalf of clients surged 135%. A look across the company’s major growth metrics shows a company in high demand among the country’s largest and most discerning energy buyers as they look for a partner capable of meeting their most pressing energy needs and long-term sustainability goals.
Transparent Energy’s procurement prowess, underscored by its industry-leading auction technology and stellar sourcing process, has been on display across a who’s who of buyers, spanning data centers, healthcare and hospitality companies, manufacturers, retailers, and wholesalers. For example, in H1 2024, Transparent Energy secured 73 new energy contracts for hotels managed by one of country’s largest hospitality firms.
In other developments, the company’s expertise in renewable energy transactions delivered memorable first-half-year results, including a mega-transaction for a New York State renewables aggregation that delivered eight-figure savings, and a virtual power purchase agreement (VPPA) for a prominent distributor of specialty construction supplies. In sum, Transparent Energy’s renewable energy procurement portfolio rose by nearly 200% in the first six months of 2024.
“There are so many successes to highlight this year, it’s almost hard to know where to begin, but I will say it all starts with our team and the process and technology we have diligently developed over the last 15 years to reliably deliver value to our clients,” said Dustin Scarpa, Co-Founder and Managing Partner, Transparent Energy. “Whether it’s electricity, natural gas, or renewable energy procurement – or all of the above – our value proposition, rooted in ‘transactional excellence’ and supplemented by a deeply knowledgeable team of energy-market experts, is opening more and more doors for us with the largest and most desirable energy buyers in the country, driving our tremendous growth.”
Rapid Growth in 2024
Transparent Energy’s key accomplishments in the first six months of 2024 include:
1. Total client energy spend increased 135%.
2. Total bookings jumped 42%, reflecting strong new customer acquisition.
3. Renewable energy procurement volume grew 185%.
4. The number of deals and average term length of those deals increased 33% and 35%, respectively.
5. Natural gas volumes doubled, while electricity load increased 20%.
6. 16 new channel partners teamed with Transparent Energy to provide energy procurement services to their clients, including leading accounting, electrical contracting, and engineering services firms Cherry Bekaert, FSG, Sax LLP, and T&M Associates.
Beyond the numbers, Transparent Energy also excelled in H1 ’24:
7. The company introduced its prestigious Strategic Advisory Board, a trio of energy, procurement, and supply chain legends with great influence in, and knowledge of, the market.
8. Fortune 50 and other large energy buyers continued to entrust Transparent Energy with the execution of their sustainability and decarbonization plans, as well as their traditional energy needs. Clients even featured Transparent Energy in their ESG reports.
9. Major portfolio holders centralized and standardized their energy procurement process using Transparent Energy.
10. The company continued to educate large energy buyers across vertical markets on energy-market developments and energy buying strategies, including the sourcing of renewables, through a series of powerful webinars and thought leadership articles.
Concluded Paul Shagawat, Co-Founder and Managing Partner, Transparent Energy, “The numbers don’t lie: in our 15th year of business, Transparent Energy continues to excel and post amazing results. But we are more than our numbers. Our client relationships – as evidenced both by our ability to attract major new customers and continue to provide exceptional service and value to our long-term clients – tell a story of our singular commitment to making them successful through the elevation and strategic execution of energy sourcing.”
For more information on Transparent Energy’s market-leading energy advisory, sustainability, and procurement services, or to sign up for the company’s monthly market analysis, please see www.transparentedge.com or contact info@transparentedge.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, crypto mining, cultivation, data center, distribution, education, financial services, healthcare, hospitality, life sciences, 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.
Contacts:
Business inquiries:
Jamil Ahmed
jahmed@transparentedge.com
(862) 210-8770
Media inquiries:
Dan Mees for Transparent Energy
Mees Communications LLC
dan@meescommunications.com
