Transformative 2020 Marked by Record Revenue and Growth in Total Contract Value as Company Attracts Senior Talent, Deepens Green Capabilities, and Invests in the Future
FAIRFIELD, N.J. and CHICAGO, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Transparent Energy, the national leader in online energy procurement, today announced it achieved record FY 2020 results with total contract value surging nearly 50%. Large and mid-sized energy buyers across the C&I and institutional landscape are finding in Transparent Energy an expert and agile ally capable of transacting strategic electricity, natural gas, and renewables purchases virtually on the company’s leading online auction platform at major cost savings.
“By establishing the best online auction platform for energy procurement in our industry, backed by the market expertise of our unequaled staff, Transparent Energy has provided a safe haven for our customers throughout this past tumultuous year,” said Paul Shagawat, Managing Partner and Co-Founder, Transparent Energy. “Beyond all the great growth numbers, it’s particularly gratifying to our entire team to know that we really helped our customers when they needed it most, with many telling us that the money we saved them on energy directly contributed to helping them retain employees and operate their businesses.”
Transparent Energy’s key 2020 accomplishments included:
- Record revenue, with total contract value rising nearly 50%.
- Suppliers logged an average of 85 bids during Transparent Energy’s online procurement events, delivering customers invaluable price discovery and hundreds of millions of dollars in energy savings compared to legacy, analog procurement methods.
- Renewable energy growth and innovation as evidenced by successfully conducting the first-ever online auction for a Community Choice Aggregation – Westchester Power, a program of Sustainable Westchester. The auction resulted in the purchase of more than 1 billion kWh of energy greened by renewable energy certificates from New York State.
- Strategic senior hires across the company’s renewables, retail energy, and associations & partnerships lines of business to drive future growth and innovation.
- Best-in-the-industry customer satisfaction and auction close rates, topping 99%.
“The big story for Transparent Energy and its customers over the last year, and looking forward, is that we have built a company from the ground up that is both as digital and personal as it needs to be to help large energy buyers successfully transact and win in the marketplace,” said Dustin Scarpa, Managing Partner and Co-Founder, Transparent Energy. “In addition, we are continuing to invest in the people and technology we need to meet the massive opportunity in front of us, including the rise of renewable energy, the greening of corporate America, and the digital delivery of energy services.
“I couldn’t be happier with the team we have assembled, the results we have achieved, and the customer and partner relationships we have developed and deepened. And as great as all that is, the best is yet to come.”
For more information on Transparent Energy’ risk-free, zero CAPEX energy advisory and procurement services, or to sign up for the company’s monthly market analysis, please contact info@transparentedge.com.
About Transparent Energy
Transparent Energy is the go-to resource for C&I companies, institutions, and government agencies for energy procurement and energy advisory services. The company’s clients include large automotive, education, financial services, healthcare, manufacturing, municipalities, 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.
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