Reel provides a platform that utilizes an algorithm to analyze historical electricity consumption data, enabling businesses to procure renewable energy through tailored Power Purchase Agreements (PPAs) from new solar and wind projects. This approach addresses the need for stable, long-term electricity pricing while facilitating a measurable reduction in carbon emissions.
Funding
$7.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face the challenge of managing volatile electricity costs while also striving to meet sustainability goals and reduce their carbon footprint. Traditional green energy certificates often lack additionality, failing to ensure a corresponding increase in renewable energy production.
Solution
Reel provides a platform that enables businesses to procure renewable energy through Power Purchase Agreements (PPAs) directly from new solar and wind projects. By analyzing historical electricity consumption data, Reel's algorithm matches businesses with optimal PPA contracts, offering stable, fixed electricity prices for 5-10 years. This approach allows companies to reduce their exposure to volatile energy markets, support the development of new renewable energy infrastructure, and achieve measurable reductions in carbon emissions. Reel handles all price negotiations, focusing on securing the best possible price without taking a cut from the PPA price.
Target Audience
Reel's primary customers are businesses of all sizes seeking to stabilize electricity costs, reduce their carbon footprint, and demonstrate environmental responsibility through verifiable renewable energy procurement.
Features
- Proprietary algorithm analyzes historical electricity consumption to optimize PPA matching.
- Access to PPAs from new solar and wind parks, ensuring additionality and direct impact on renewable energy production.
- Fixed electricity prices for 5-10 years, providing budget certainty and hedging against market volatility.
- End-to-end PPA management, including price negotiation and contract facilitation.
- Platform for tracking the progress of wind and solar park construction.
- Automated CO2 reporting to quantify the environmental impact of PPA agreements.
- Granular data on hourly electricity consumption and Denmark's hourly energy mix for accurate emissions measurement.