ABB has entered into a strategic partnership with LevelTen Energy and made a minority investment in the clean energy marketplace to strengthen its ability to help industrial and commercial customers procure reliable and affordable clean electricity. The partnership combines ABB’s expertise in electrification, digital solutions and energy management with LevelTen Energy’s clean energy transaction platform. Financial details of the investment were not disclosed.
LevelTen Energy has facilitated more than 20 GW of clean energy transactions across more than 35 markets in North America and Europe. Its customers and market participants include hyperscalers, commercial and industrial companies, utilities and clean energy developers.
The collaboration will expand ABB’s energy and carbon advisory services by adding renewable energy procurement capabilities. This will allow customers to access solutions covering clean energy sourcing, electrification, energy optimization and emissions reduction.
Businesses are facing growing pressure to reduce emissions while controlling energy costs and maintaining reliable operations. Long-term power purchase agreements and other clean energy contracts can help companies secure renewable electricity, but navigating these markets often requires specialist knowledge.
Stuart Thompson, President of Electrification Service division at ABB, said the partnership will help customers access long-term clean energy while managing costs and maintaining reliable operations. He added that LevelTen’s capabilities will complement ABB’s existing advisory, monitoring, optimization and reporting services.
The partnership is also expected to support companies dealing with changing requirements around when and where renewable electricity is generated and consumed. ABB’s expertise in battery energy storage systems, microgrids and energy management can be combined with LevelTen’s clean energy contracting and environmental attribute certificate trading capabilities to develop broader decarbonization strategies.
The agreement will also give ABB access to LevelTen’s network of clean energy developers and projects. At the same time, LevelTen will gain access to ABB’s global customer base and industry expertise, particularly across manufacturing, industrial and commercial sectors.
Bryce Smith, CEO of LevelTen Energy, said the partnership would help businesses gain easier access to clean power, capacity and portfolio management solutions while supporting their decarbonization goals. ABB’s investment was made through ABB Electrification Ventures, the venture capital arm of its Electrification business. The investment takes ABB Electrification Ventures’ total investment to more than $110 million across 18 startups since 2021.
ABB Ventures, ABB’s group-wide venture capital unit, has invested more than $500 million in startups since its formation in 2010. The investments focus on technologies supporting electrification, automation, productivity, efficiency and sustainability.The partnership with LevelTen Energy further expands ABB’s clean energy capabilities and supports its efforts to help customers manage energy costs, reduce emissions and accelerate their transition to more sustainable energy systems.
