REsurety, a Boston-based company specializing in carbon reduction solutions, has announced the launch of CleanTrade, a marketplace designed to streamline the buying and selling of clean energy assets, including renewable power contracts, virtual power plant agreements, and other sustainable assets. The initiative has been bolstered by a recent $32 million Series C funding round, spearheaded by S2G Ventures—a prominent investor in sustainable food, energy, agriculture, and ocean solutions—and global financial leader Citi.
Founded in 2012 by Lee Taylor, REsurety has focused on enhancing transparency, liquidity, and the overall impact of clean energy markets. With this latest venture, the company aims to address long-standing inefficiencies in clean energy trading, promising a more accessible and streamlined platform. According to REsurety, CleanTrade represents a significant advancement by providing an all-in-one marketplace tailored specifically for clean energy assets. Unlike conventional trading platforms that struggle with the unique requirements of clean energy, CleanTrade is designed to make transactions “clearer, faster, and more efficient—both financially and environmentally.”
Bringing Transparency and Liquidity to Clean Energy Markets
Lee Taylor, founder and CEO of REsurety, highlighted the importance of transparency in clean energy transactions, describing CleanTrade as a crucial development. “CleanTrade fills a critical gap in the energy transition toolkit, providing the price transparency and transaction liquidity that traditional energy markets have long benefited from but which clean energy markets have sorely lacked,” Taylor said.
The platform is set to improve the marketability of clean energy assets by offering users detailed insights into the contracts they trade. With tools designed to support efficient transactions, CleanTrade enables buyers and sellers to better assess the environmental impact of each trade by ranking transactions based on the implied cost of carbon abatement. This functionality provides a nuanced view, facilitating more strategic decision-making around carbon reduction investments.
Regulatory Approval and Enhanced Product Range
In a landmark step, CleanTrade has received approval from the Commodity Futures Trading Commission (CFTC) to operate as a Swap Execution Facility (SEF). This regulatory endorsement allows the platform to offer derivative trading in addition to its suite of clean energy products, including physical power purchase agreements (PPAs) and project-specific renewable energy certificates (RECs). The addition of SEF capabilities positions CleanTrade as a comprehensive platform catering to the varied needs of clean energy traders and investors.
The marketplace’s roots trace back to Citi’s Commodities division, where early platform development set the stage for its eventual expansion under REsurety’s stewardship. “With REsurety and Citi’s long-standing partnership, it was a natural fit for REsurety to take this on, further develop the platform, and provide the clean-energy economy with a robust, diverse product offering,” commented Siris Singh, Global Head of Markets Strategic Investments at Citi.
Driving Adoption and Accelerating the Clean Energy Transition
S2G Ventures, a lead investor in REsurety’s latest funding round, is confident in the platform’s potential to lower barriers for clean energy adoption. Francis O’Sullivan, Managing Director at S2G, emphasized the value of increased transparency and liquidity. “We believe REsurety and its CleanTrade marketplace represent a game-changing platform in this regard. By providing enhanced price transparency and liquidity, CleanTrade can help reduce the barriers to customer adoption of clean electricity, and in turn, support further deployments of clean electricity production capacity.”
As the clean energy sector continues to grow, CleanTrade is poised to be a pivotal tool, supporting both the economic and environmental goals of energy traders, companies, and investors. This new marketplace stands as a testament to REsurety’s commitment to advancing the clean energy sector, bolstered by strategic backing from key players in finance and sustainable investment.