International Retail Supplier Seeks Texas REP Certificate
Has Previewed Portal Listing Competing Supplier Offers
Recently Raised $12M In Seed Funding
Named Energy Market Vet As VP, Market Operations
Current Service Includes Data Driven Model, Machine Learning
December 30, 2021 Email This Story Copyright 2010-21 EnergyChoiceMatters.com
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EnPowered USA Inc. applied for an Option 1 Texas retail electric provider certificate
As previously reported (story here), EnPowered is currently licensed as a retail electric supplier in Ohio and various Canadian markets and earlier this year received its initial registration as a New York ESCO
As previously reported, in its New York registration, EnPowered had stated earlier this year that, "We are hard at work developing a novel tool that will help New Yorkers compare their electricity options, and choose the plan that is best for them. By increasing the transparency and accountability in the energy market, we aim to increase the real benefits that New Yorkers can receive in a deregulated energy market while helping them avoid the many potential scams that exist today."
"If a consumer uses EnPowered's portal to compare options in the market, but then decides to sign-up with a different provider, this consumer will still be able to use EnPowered's portal to track their monthly usage, costs, and savings," the company said in its New York registration filed earlier this year
EnPowered recently announced that it has secured $12 million CAD in seed funding over two rounds, led by Version One Ventures and Golden Ventures in the Seed round, and Inovia Capital in the Seed+ Round.
First Star Ventures, Panache Ventures, and Union Capital Partners also participated in the Seed round. Global Founders Capital and Active Impact Investments also participated in the Seed+ round
The seed funding will boost market expansion and hiring, the company said
Ted Leonard recently joined EnPowered as Vice President, Market Operations
Leonard had previously served as COO and CFO at Rodan Energy Solutions. Previously, Leonard held various roles at Ontario's Independent Electricity System Operator (IESO) in nearly 20 years with the ISO, including serving as Vice President, Markets & Chief Financial Officer
Of its services, EnPowered states on its website that, "we’re building the economic infrastructure needed to democratize sustainable energy solutions that save money, resources, and the planet."
Among other services, EnPowered offers to large C&I customers a program, utilizing algorithms and machine learning, which identifies when electricity is going to be expensive and, "makes those insights available through a simple API, allowing large energy consumers to make informed decisions that lower energy costs and decrease emissions."
"As part of our mission to fuel the adoption of energy technology, we started the Virtual Energy Movement (VEM). VEM will innovate the energy grid and accelerate cleantech adoption. It starts with directly connecting assets to energy markets to improve ROIs, savings, and emissions," EnPowered further states on its website
EnPowered also recently launched a service under which it will offer energy solution providers and cleantech companies the opportunity to charge for their projects, products, and services directly on their customers' existing electricity bills as an operating expense (on-bill payment platform).
"EnPowered Payments will unlock thousands of cleantech projects by enabling customers to bundle energy efficiency projects with their monthly electricity bill -- allowing them to pay for these projects with savings instead of investing millions upfront," the company said
"EnPowered’s mission is to increase the rate of cleantech adoption by reducing the friction in the sales process for hundreds of cleantech partners," the company said
"With the latest Seed+ round, the company is now expanding its reach across the U.S., recruiting in core functions, and developing partnerships with hundreds of like-minded innovative cleantech companies," EnPowered said
In its initial Texas REP application, EnPowered did not apply for the option of collecting deposits or advance payments from customers