Validere, an all-in-one commodity management platform for the energy industry, announced March 15 it has raised $43 million in its Series B financing round. The round was led by Mercuria Energy and select funds and accounts managed by BlackRock, with participation from Nova Fleet, Pioneer Fund and Natural Gas Innovation Fund. Existing investors, including Wing VC and Greylock Partners, also participated in the round.
Validere’s platform monitors, validates and forecasts the critical data at the facility level to enable companies to improve their operations, and make better commercial and emissions decisions. Leading energy companies use Validere’s platform to reduce operational upsets, receive higher netbacks and gain visibility into commercial decisions, all while managing sustainability reporting and monetization of environmentally differentiated products. Validere is the only platform that integrates data and insights on ESG markets with traditional commodity markets, giving clients a holistic picture for their core business decisions.
“Validere’s mission is to ensure human prosperity through energy that is plentiful, sustainable and efficiently delivered. We facilitate this through integrating our customers’ core business with new environmental initiatives,” said Nouman Ahmad, Validere co-founder and CEO. “In order to manage the energy transition well, environmental attributes cannot be managed in a silo, they need to be integrated in the day-to-day operations and commercial decisions.”
Validere acts as the data layer for multiple environmental tracking initiatives, including a tokenization of voluntary carbon credits generated from a carbon capture, utilization and storage (CCUS) project that was transacted on blockchain, as well as the certification of operators that produce responsibly sourced natural gas (RSG) in partnership with leading third-party organizations such as Xpansiv, where RSG is verified to meet certain ESG standards such as methane emission intensity.
“Hydrocarbon producer and logistics companies are now focused on integrating ESG considerations into their commercial and operations decisions, but are realizing that the large amounts of data they will be required to capture, verify and analyze, coupled with evolving standards on which to evaluate, make it difficult to implement long-term solutions,” said Brian Falik, Mercuria’s Chief Investment Officer - Americas and new Validere board member. “Validere’s data collection processes and deep understanding of the credit and offset markets allow it to work with companies on a tailored basis to create everything from monetization programs for environmentally differentiated products to portfolio reporting tools for financial and sustainability reporting.”
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