Incite Post | Democratizing Clean Power

Published

Jul 19, 2023

PUBLISHER

Keely Anson

Incite Community,

We hear a lot of climate doomism, but from our perch we’re feeling optimistic. We’re in a very special moment where there are evermore climate innovations available to, and a growing pool of incentives for, companies to adopt these technologies. Today’s question is really: how do we make these options accessible to businesses, small and large?

For example, historically, only large technology and industrial companies with high energy needs and deep pockets have been able to directly source clean power. For small scale companies who want to make the clean power switch, there has been a lack of tools available and not enough capital to leverage this specialized expertise.

Whether it be transacting their first power purchase agreement (PPA), working on emissionality, or pursuing 24/7 carbon-free energy, this is a perfect opportunity for software-led startups to address. That’s why we’re excited to tell you more about Verse, a company making it simpler, faster and cheaper for organizations to procure and manage clean power (and using generative AI to do it!).

Verse’s new Aria platform disrupts the legacy approach to buying and managing clean power by helping teams: define their clean power goals, design and procure a clean power portfolio, manage and optimize their clean power assets, and monitor and report on portfolio performance. We love Verse’s focus on driving behavior change within organizations, from behind the scenes. By empowering companies to reduce costs, de-risk energy procurement, and expedite transactions, Aria will help accelerate and scale organizational adoption of clean energy.

Scroll down to hear from founders Seyed and Matt, hot on the heels of the Aria launch, share more about their founder journey and why they’re obsessed with unlocking the benefits of clean power for organizations everywhere.

Verse Spotlight

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What motivated you to start Verse and pursue your mission of democratizing clean renewable energy? What has surprised you most while diving into this problem space?
Seyed: I’ve dedicated my career to building software to change the grid and proliferate clean energy. Up until Verse, my career focused on developing software to help sellers of energy efficiently transact sales and increase their returns. But I saw a massive white space in developing software to reduce costs and improve transaction efficiency for buyers of clean energy. When I started looking into it, I realized only a few organizations are leveraging clean power to reduce their costs and decrease their carbon emissions – not because clean power is too expensive, but because the process of identifying, buying, and managing the right clean energy assets is too expensive, complex, and time-consuming.
Matt: That’s why we’re developing a software platform, Aria, to help more companies quickly and cost-effectively transition to clean power. There are several macro trends – the emergence of generative AI, evolving regulations around carbon accounting and energy procurement, and increasing corporate commitments to carbon reductions – that are driving demand for our technology. We knew there was room for this innovation, but we’ve been pleasantly surprised by the amount of customer interest in our product.
With the launch of Verse’s Aria platform, what are the most compelling applications you’ve seen for generative AI to accelerate access and the transition to clean energy for all types of companies? Where do you see limitations?
Seyed: Generative AI is truly a game-changer. We leverage it to simplify and optimize clean energy transactions, traditionally a complex, human-driven process. The AI intelligently deciphers human language in proposal evaluation and contracting, facilitating easier deal-making. Moreover, it steps up as a decision-maker, utilizing its vast data-analysis abilities to guide companies towards cost-effective, sustainable energy options. However, while Aria offers a powerful solution, it's not a silver bullet—sudden market changes or policy shifts can still pose challenges. But by integrating AI with human insight, we're taking a significant step towards a more accessible and sustainable clean energy future. With the financial burden being one of the biggest barriers to the clean energy transition, how does Verse address the financial aspects of energy procurement, particularly for smaller companies with limited resources?
Matt: There are a couple of different financial burdens associated with corporate clean power procurement. First, there are overhead costs. The complexity of the transactions requires highly specialized knowledge that most companies don’t have. Their choices – hiring external consultants or building out an internal team – are both prohibitively expensive for most businesses. Aria can digest in minutes information that would take months for humans with spreadsheets to analyze. Then there are long-term potential financial burdens if you don’t plan for the right mix of clean energy assets. Aria can rapidly perform analysis on a range of financial, regulatory and consumption scenarios to help companies construct a portfolio of clean assets that performs well in the face of significant uncertainty.
What’s next for Verse? How can our readers stay up to date?
Matt: We’ve launched our first product to our first customers and an initial test audience. The more feedback we get, the better we can tailor Aria to meet customers’ needs. So I’d encourage any of your readers who want to procure or are currently running on clean power to contact us for a demo and a free trial!
To keep up with our news, people can follow Verse on LinkedIn (verse-inc) and Twitter (verse_inc) and now Threads (verse_inc_), and we’ll be standing up a blog in the next month or two.