Breakthrough Year Proves Scalability and Power of Company’s Online Auction Platform, Pushes Transparent to the Forefront of Energy Management Market in 2020
FAIRFIELD, N.J., March 04, 2020 (GLOBE NEWSWIRE) — Transparent Energy, a national leader in energy procurement services, today announced it achieved record FY 2019 results – growing organically 21% year over year – as it attracted more than 200 new large commercial & industrial (C&I) customers to its live-auction energy procurement platform. In the process, Transparent advanced its reputation for providing strategic counsel and driving energy cost savings as it delivered a stellar 98% close rate on its auction platform, highlighting that when Transparent runs a procurement event, suppliers show up, sharpen their pencils, and bid to win, benefitting the customer.
“We achieved so much over the course of the past year, turning the page on an incredible decade, thanks to the trust of our customers, the help of our channel partners, and the dedication and expertise of our sales, advisory, and technology team,” said Dustin Scarpa, Managing Partner and Founder of Transparent Energy. “Whether we were winning new business with the biggest names in C&I, delivering new cost-saving energy contracts through our advanced online auction platform, renewing business at a record 95% rate, or growing our stellar channel partner network, Transparent brought its ‘A’ game to everything it touched in 2019 – and the market responded.”
Transparent’s key 2019 accomplishments included:
- 200+ new C&I customer wins with a who’s who of large enterprise clients, including leaders in automotive, education, financial services, healthcare, real estate, retail, and technology.
- 300+ auction events held, with a 98% close rate, delivering superb energy savings, value and insights for customers.
- The average annual energy spend of customers tripled to $1.4 M, with average energy savings eclipsing 7%.
- 75 new channel partnerships established with leaders across energy management disciplines, from energy efficiency to distributed energy, including 5 joint-venture agreements with energy brokers to leverage Transparent’s online auction platform.
- Key new hires and offices, including the addition of Luke McAuliffe as President; David Blair as Director of New Business Development; and opening new offices in New York and Texas.
“Transparent Energy has been our trusted resource for all-things-energy since 2016,” said Chris Zirrith, CFO of Applied Property Management. “Over the course of our engagement, the team at Transparent has been thoughtful, proactive, and extremely knowledgeable about the energy market and our business needs, leading to a number of successful auctions that have saved us millions of dollars.”
Concluded Scarpa: “This past decade introduced a lot of complexity into how large enterprises manage energy. Understanding – and capitalizing on – the myriad of choices facing end-users takes expertise in energy markets, advanced technology, and hands-on experience working directly with customers, suppliers, and partners to ensure the best results. At Transparent Energy, we’ve worked tirelessly to develop and hone these skills in service of delivering savings, value, and opportunity to our clients. Coming off the best year in our history, we are in an excellent position to advance and accelerate our energy management leadership in 2020 and throughout the new decade.”
About Transparent Energy
Transparent is the go-to resource for C&I companies for energy procurement and energy advisory services. The company’s clients include large automotive, education, financial services, healthcare, real estate (REITS and property developers), retail, and technology firms. With a proven process delivered by retail energy’s most experienced professionals and state-of-the-art online auction technology, Transparent has driven millions of dollars in operational savings for clients across North America. For more information, see www.transparentedge.com.
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