News Type: Press Release

Bank of America Taps Duke Energy and 3Degrees to Expand Renewable Energy Commitment

Partnerships Support New Solar Generation to Power Bank of America Charlotte Operations and Support New Solar Projects in Local Communities

CHARLOTTE – Bank of America announced today it is partnering with Duke Energy to further expand its renewable energy commitment by powering its headquarters and other Charlotte, North Carolina operations with solar energy.

Through a renewable energy-sleeved power purchase agreement (PPA), the company is participating in Duke Energy’s Green Source Advantage (GSA) program. The bank is the first company and financial institution to sign a 10-year agreement for electricity and Green-e®-certified renewable energy certificates (RECs) through this program.

The purchase of a 25-megawatt (MWAC) solar project’s electricity output and RECs will cover 45% of Bank of America’s electricity load in the state. By participating in Duke Energy’s GSA program, Bank of America further demonstrates its commitment to reduce its operational impacts on the environment, including being carbon neutral and utilizing 100% renewable electricity across its global operations.

“These unique projects and partnerships build on our achievement of carbon neutrality and expand our renewable energy commitment. By driving more clean energy solutions in our facilities, we are developing a broader sustainable energy ecosystem to help transform our operations and the communities where our employees work and live,” said Andrew Plepler, global head of Environmental, Social and Governance at Bank of America. “These partnerships bring to the forefront creative thinking and innovative solutions to address a changing climate and clean energy access.”

This innovative project will be constructed in the Piedmont region of North Carolina. It also adds additional clean energy to the grid, supports jobs and the local economy. The project will include the installation of a pollinator habitat surrounding 70,000 solar panels, covering approximately 180 acres, and is expected to be online in 2022.

“We continue to look for new and innovative ways to deliver more renewable energy to customers in North Carolina,” said Stephen De May, Duke Energy’s North Carolina president. “Customers want more flexibility and options for renewable energy and the Green Source Advantage makes that happen.”

Silver Pine Energy, a joint venture between Silver Creek Energy and North Carolina developer Pine Gate Renewables, will oversee the development of the project and will support the engineering, procurement and construction services.

“Silver Pine Energy is very pleased to be a part of the Green Source Advantage program,” said Silver Pine President Ben Catt. “We are grateful to partner with Duke Energy and Bank of America for this project, and excited to continue to do our part to bring more renewable energy online in North Carolina through innovative and exciting programs such as GSA.”

Duke Energy’s GSA program has 600 MW of capacity for large Duke Energy customers in North Carolina. Cities – like the city of Charlotte – are also eligible to participate.

Duke Energy maintains more than 3,300 MW of solar power on its energy grid in North Carolina, which could power about 700,000 homes and businesses at peak output. The company also operates 40 solar facilities in the state. North Carolina currently ranks No. 2 in the nation for overall solar power.

The Green Source Advantage program is an outgrowth of 2017’s landmark solar legislation in North Carolina. Other programs such as solar rebates for customers and solar leasing were also part of that legislation. Duke Energy piloted the program, called the Green Source, Tariff, in 2015.

EASTERN NORTH CAROLINA – Bank of America partnered with 3Degrees to purchase RECs for 10 years to help make possible the development of four additional solar projects in the eastern part of the state. The counties of Harnett, Columbus, Nash, and Johnston will benefit from these projects, with solar energy added to the grid and pollinator habitats that will increase biodiversity in these communities. The total annual MWh output from the 3Degrees projects are expected to produce 33,000 MWh/ year.

“We applaud Bank of America’s continued investment in taking action against climate change,” said Steve McDougal, CEO, 3Degrees. “We have partnered together several times, and the bank’s desire to consistently seek out innovative projects, such as this impactful long-term REC purchase in North Carolina, is impressive. Bank of America exemplifies true corporate climate leadership.”

Additional resources

Learn more about Bank of America’s commitment to the environment and its environmental operations focus.

Learn more about Duke Energy’s GSA program and its renewable energy commitment.

Learn more about 3Degrees.

Learn more about Silver Pine Energy.

Learn more about Pine Gate Renewables.


Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.

Duke Energy is transforming its customers’ experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit’s regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.

Silver Pine Energy
Silver Pine is a joint venture partnership between Silver Creek Energy and Pine Gate Renewables. Silver Pine is actively developing dozens of projects across the southeast and beyond. The collective partnership combines to offer industry leading capabilities as a developer, financier, EPC, and operator of solar projects in the United States. Silver Pine currently oversees the construction and operation of 200 MWs of solar projects in the southeast and is actively developing over 1GW of solar across the country.

Pine Gate Renewables
Pine Gate Renewables is a leading developer, financier, EPC, and operator of solar projects across the United States. Pine Gate currently operates more than 400MWs of renewable energy projects and has an additional 4GWs of projects in different stages of development throughout the country. Pine Gate is headquartered in Asheville, N.C.

Bank of America
At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).

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Reporters May Contact:
Kelly Sapp, Bank of America, 1.980.214.3070
[email protected]

Randy Wheeless, Duke Energy, 1.800.559.3853
[email protected]

Rachel Fagan, 3Degrees, 1.512.402.8683
[email protected]

3Degrees’ creative project financing and transportation market expertise enable the repower of Edaleen digester project

Edaleen Dairy, Lynden Washington

3Degrees, a firm that helps organizations achieve renewable energy and decarbonization goals, announced today the recent completion of a critical investment to repower a manure digester project at Edaleen Dairy, family-operated farm in Lynden, Washington. 3Degrees worked with Regenis, a dairy digester operator committed to both planetary protection and family farmer livelihood, and Edaleen Dairy to co-finance a new engine and generator to keep the digester power project online and avoiding potent methane emissions.

Anaerobic digesters turn livestock waste into renewable power while avoiding potent methane emissions—meaning they are one of the most essential immediate actions for mitigating climate change. Despite their environmental benefits, many digesters nationwide risk being shut down due to high operating costs. In the Northwest, many aging dairy digester projects cannot afford to continue operation at current electricity prices.

Edaleen partnered with 3Degrees to sell its digester electricity into transportation markets to power electric vehicles. Clean fuel standards, like Oregon’s Clean Fuels Program, offer digester projects a new incentive to cover operating costs and continue abating emissions. Given 3Degrees’ expertise in this emerging market, the company pre-purchased credits that will be generated under the clean fuels standards to share the costs of installing a new generator and engine at the dairy.

“Edaleen Dairy has an unshakeable commitment to sustainability, which is why they are an industry leader”, says Bryan Van Loo, Vice President at Regenis. “We are thankful to have such a strong working relationship with Edaleen having constructed their digester in 2012 while operating and maintaining the system from commissioning to today. Now at their ten-year anniversary, the digester has supplied enough clean, emission-free electricity to power 380 local homes, while also improving upon climate, air, and water quality. Regenis is equally pleased to be working with 3Degrees as they and Edaleen Dairy transition towards specific use of the renewable electricity for charging of EV vehicles in Oregon through the Oregon Clean Fuels Program.”

“Our dairy has always been centered on the health of our customers, our community, and our planet because we are a family-run operation who lives in the community we serve,” says Mitch Moorlag, General Manager at Edaleen Dairy Cow Power, LLC. “We take seriously the natural wonders that have been bestowed upon us as do our customers, and we want to pass that inheritance down to future generations. Providing clean energy for electric vehicle charging stations by capturing methane and turning into biogas in our anaerobic digester is a logical progression of that commitment to be good stewards.” 

“Dairy farmers often paid very little for the power they generate from their operationally-complex digester projects,” said Peter Weisberg, Director of Product Development at 3Degrees. “This investment is a great example of how through tailored financing solutions and new environmental markets, we can work with partners to keep these critical emission mitigation projects operational”

About Regenis:

Regenis symbolizes the rebirth of our planet’s reusable organic resources and a commitment to the ethic to leave our land better for the next generation. On a planet with over seven billion people, our mission is to re-imagine reusable resources to create a valuable supply chain of products for farms, food processors and municipalities through the process of anaerobic digestion. Our digesters capture methane (a potent greenhouse gas) from decomposing organic waste and convert it into clean electricity that can be used to power farms and factories, sold to the local utility at a profit or turned into renewable natural gas for trucks and car fleets. Our virtuous cycle leaves nothing to waste, creating a cycle of value for our clients while putting them on the cutting edge of sustainability. Regenis constructed Edaleen Dairy’s digester facility, is contracted to do ongoing O&M services, and is a long term friend and partner to Edaleen Dairy as well as 3Degrees. To learn more about Regenis, please visit their website.  

About Edaleen Dairy:

In 1975, Ed and Aileen Bransma combined their names to create Edaleen Dairy, but what started as a small family company has expanded to six locations. Through the years, Edaleen has been ahead of the curve by combining experience, innovative ideas, and technology. The dairy has a long history of involvement in the surrounding Whatcom County community, and have put their environmental stewardship into action by installing climate-forward technologies, such as anaerobic digesters.

3Degrees Achieves B Corp Certification for Third Year in a Row

image: a forest scene with the B-corp logo

For the third year in a row, 3Degrees has achieved B Corp (Benefit Corporation) certification. This certification means that 3Degrees has legally expanded its corporate responsibilities to include consideration of stakeholder – not just shareholder – interests. 3Degrees met B Lab’s rigorous standards of social and environmental performance and joins a community of like-minded companies that are redefining what business success means.

3Degrees became a B Corp in 2012 because the firm was built upon the idea that businesses need to consider the impact of their products and services on their employees, suppliers, community, and environment. In becoming a B Corp, 3Degrees demonstrates that social and environmental responsibility is not just a value of theirs, but one that they have integrated into their corporate DNA.

In the 2014 Benefit Corporation Annual Report, CEO Steve McDougal explains:

“We are proud to be a B Corporation. It is a touchstone for us and the work that we do. B Corps stand for positive, innovative, and practical solutions to global problems. B Corps redefine the meaning of success in business. B Corps look to create enduring prosperity for all stakeholders, including employees, suppliers, the community, the environment and shareholders.

We embrace this definition of success and strive to align our company with the value of meaningful and prosperous engagement for all stakeholders. It is a journey, and in 2014 we made significant progress on this journey.”

3Degrees named “Best for the World” by B Lab

image: a forest scene with the B-corp logo

In the top 10% of certified B Corporations worldwide for governance

3Degrees was recently honored for our accomplishments by B Lab, the nonprofit organization that certifies B Corporations. Specifically, we were recognized in the “Best for the World: Long Term” category as a result of our mission driven, transparent governance.

The 2017 Best for the World for the Long Term evaluates companies on their adoption of  a social or environmental mission, and how they engages employees, board members and the community to achieve that mission. Moreover, it assesses employee access to financial information, customers’ opportunities to provide feedback, and the diversity of the company’s governing bodies.

“Receiving this award from B Lab is testimony to one of our company values – that we are passionate about our mission…really,” said Steve McDougal, CEO of 3Degrees.  “It’s a great tribute to the work that our employees do every day to make sure that we live the values of the B Corp movement.”

Only the top 10 percent of Certified B Corporations received awards. 2017 Best for the Long Term companies winners represent 79 different industries and 13 countries.

This is the third time that 3Degrees has received a Best for the World award. In 2016, we won in the Best for the Environment category, and in 2013, we won  in the Best for the Worker category.

3Degrees has been a certified B Corp since 2012 and continually strives to improve our performance across all metrics, including social and environmental performance, accountability, and transparency.

 

Applied Materials Commits to 100 Percent Renewable Energy Sourcing Worldwide

Power purchase agreement with Apex Clean Energy targets 100 percent renewable energy sourcing in the U.S. by 2022

Under a broad set of ESG initiatives unveiled today by company President and CEO Gary Dickerson, Applied Materials announced a commitment to 100 percent renewable energy sourcing by 2030.

In accordance with its goal, Applied has joined other technology leaders in committing to purchase energy from the 500 megawatt (MW) White Mesa Wind project being developed by Apex Clean Energy in Crockett County, Texas. Applied’s power purchase agreement (PPA) covers 10 percent of the project’s clean energy output, an amount equivalent to the power needs of more than 13,000 homes.

“Our PPA is an important step in helping Applied Materials reach our reduced carbon footprint targets as it will enable us to achieve 100 percent renewable energy sourcing in the U.S. and 73 percent worldwide by 2022,” said Scott Hambleton, managing director of Environmental, Health and Safety at Applied Materials. “We are excited to accelerate our environmental sustainability goals with a clean energy project that is supported by other leading technology companies.”

“White Mesa clearly demonstrates the power of corporate energy purchasers working together to bring new renewable energy projects to life,” said Mark Goodwin, president and CEO of Apex Clean Energy. “We welcome Applied Materials as the latest offtaker of the White Mesa Wind project and applaud the company’s dedication to incorporating sustainable practices into its business.”

3Degrees, a specialist in renewable energy, transportation decarbonization and other climate solutions, facilitated the agreement. “We are pleased to have helped facilitate this power purchase agreement with Applied Materials and Apex Clean Energy,” said Steve McDougal, CEO, 3Degrees. “It’s exciting to see a growing number of companies in the technology sector, and beyond, pledge long-term support to increase their commitment to renewable energy and help mitigate climate change.” 

“Applied Materials is solidifying itself as a renewable energy leader through strong commitments to reduce its carbon footprint and achieve 100 percent renewable energy sourcing globally over the next 10 years,” said Miranda Ballentine, CEO, Renewable Energy Buyers Alliance (REBA). “As we work toward achieving a zero-carbon future, this type of leadership will continue to move the industry forward and set an example for other large energy buyers to follow.”


About Applied Materials, Inc.

Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible the technology shaping the future. Learn more at www.appliedmaterials.com.

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Contact:

Ricky Gradwohl (editorial/media) 408.235.4676

Michael Sullivan (financial community) 408.986.7977

Johnson Controls Collaborates with 3Degrees to Accelerate the Race to Net Zero

  • Johnson Controls expands Renewable Services business through a partnership with leading renewable energy and decarbonization solutions provider 3Degrees
  • Collaboration fast-tracks net zero goals through carbon reduction services
  • Service further expands the comprehensive OpenBlue Net Zero Buildings as a Service offering

Johnson Controls (NYSE: JCI) announces its collaboration with 3Degrees, a firm that helps organizations around the world achieve renewable energy and decarbonization goals. The new collaboration aims to accelerate building owners’ and operators’ progress toward net zero by leveraging 3Degrees’ large-scale environmental commodity solutions, including Renewable Energy Certificate (REC) transactions, long-term renewable energy procurement, carbon credit portfolio management, transportation decarbonization and climate advisory services.

“The need for global net zero solutions has never been greater, and global organizations are turning to Johnson Controls to help them achieve their goals,” said Dan Svejnar, vice president, Renewable Services, Sustainable Infrastructure, Johnson Controls. “This collaboration with 3Degrees provides customers with market-sourced renewable energy supply services, which, together with energy efficiency, is one of the most effective paths for customers to address operational carbon emissions and achieve net zero.”

The energy supply services can be delivered as part of the comprehensive Johnson Controls OpenBlue Net Zero Buildings offering or as a stand-alone service. OpenBlue Net Zero Buildings designs, digitizes, and deploys net zero solutions at any stage. The steps range from goal setting and facility-wide digitalization to distributed energy strategies and renewable energy supply services. The solution is also available as a performance-based service where customers pay for the outcome with a fixed monthly fee to lower their inherent risk and avoid capital investments.

The latest climate report released by IPCC shows a rapidly closing window to avoid irreversible adverse climate change and reach net zero by 2050. Scientists are calling for an immediate decrease in greenhouse emissions after findings showed carbon levels continuing to increase. The United Nations’ Paris Agreement target to achieve net zero greenhouse gas emissions by 2050 is fast approaching, causing governments, businesses, and organizations around the world to rearchitect regulations and hold themselves accountable. The collaboration with 3Degrees will support global customers’ urgency to meet these environmental targets.

“The challenge is clear—building emissions currently account for nearly 40% of total global emissions,” said Scott Martin, vice president and head of global commercial business at 3Degrees. “It’s through partnership, innovation, and steadfast commitment that we drive meaningful decarbonization. This partnership offers customers end-to-end climate solutions to accelerate our collective progress to net zero emissions.”

To learn more, visit: Net Zero Buildings (johnsoncontrols.com)

About Johnson Controls

At Johnson Controls (NYSE:JCI), we transform the environments where people live, work, learn, and play. As the global leader in smart, healthy, and sustainable buildings, our mission is to reimagine the performance of buildings to serve people, places, and the planet.

Building on a proud history of nearly 140 years of innovation, we deliver the blueprint of the future for industries such as healthcare, schools, data centers, airports, stadiums, manufacturing, and beyond through OpenBlue, our comprehensive digital offering.

Today, with a global team of 100,000 experts in more than 150 countries, Johnson Controls offers the world’s largest portfolio of building technology and software as well as service solutions from some of the most trusted names in the industry.

Visit www.johnsoncontrols.com for more information and follow @Johnson Controls on social platforms.

3Degrees Offsets Corporate Water Use Through Investments in Two Different Ecosystems

water

New program allows for continued environmental improvement, leadership

In a continued effort to decrease its environmental impact, 3Degrees has offset its 2014 water footprint through the purchase of Water Restoration Certificates (WRC).

Similar to how companies purchase Renewable Energy Certificates (RECs) to balance out their electricity consumption for areas where they cannot reduce their energy usage, 3Degrees has purchased WRCs to cover the areas where water usage cannot be reduced, such as day-to-day office operations. Each certificate represents 1,000 gallons of water restored to critically dewatered rivers and streams through solutions like water conservation, updated management and irrigation systems, and changes to water rights and agreements. All projects are certified by the National Fish and Wildlife Foundation (NFWF).

3Degrees is proud to be supporting the Sevenmile Creek project in the Klamath River Basin, and the Colorado River Delta project, located in Sonora, Mexico. The Klamath River Basin straddles Oregon and California, two of the states where 3Degrees operates its largest office sites. The basin is home to six National Wildlife Refuges, but extreme over allocation and diversion of water resources has resulted in inadequate stream flows and the degradation and loss of critical aquatic habitat. The Colorado River Delta, located at San Luis Rio Colorado, Sonora, Mexico, was once one of North America’s great desert ecosystems, but due to historical treaties between the U.S. and Mexico that neglected to allocate water to sustain the river, the delta has been almost completely dry for the past five decades. The projects that our purchases support are restoring these important water resources.

“3Degrees is committed to reducing our environmental impact,” says Steve McDougal, President of 3Degrees. “Water Resource Certificates provide an opportunity to support projects that restore critical wildlife habitat while offsetting the use of water in our business operations.”

Water Resource Certificates are 3Degrees’ latest commitment to environmental stewardship. As a Certified B Corp, 3Degrees meets rigorous standards of social and environmental performance.  Our on-going commitment to the environmental is evidenced by our recent designation as Climate RegisteredTMPlatinum and being named one of the National Best and Brightest Sustainable Companies®. More details about our focus on sustainability can be found on our About page.

3Degrees announces request for proposals for equity audit

equity audit3Degrees is seeking a third-party group to work with our diversity & inclusion committee, executive team, HR, and individual employees across the company to conduct an equity assessment/audit at the beginning of 2018, and provide recommendations to be incorporated into early 2018 goals. The full request for proposal, including instructions for submission and deadlines, can be downloaded here.

Background

At the end of 2016, we formed an employee-led diversity & inclusion committee and began forming company-wide goals for improvements in equity focused policies, processes and culture. We also created and submitted several goals to align with the BCorp Inclusion Challenge.

One of these goals centers specifically around completing an equity audit. Our hope is that this will include an assessment of our current efforts to create an equitable work environment for current and future employees as well as identify how to improve our recruitment practices to ensure maximum inclusion and build policies to better support equity through our partnerships with suppliers and vendors.

Although we’ve already implemented several diversity & inclusion trainings for employees, we recognize how important it is to establish an understanding of where we are at as a company. We’re confident that an equity audit will inform our goals and efforts moving forward.

3Degrees and LevelTen Energy Announce Partnership to Help More Companies Achieve Renewable Energy Goals

3degrees_LevelTen

Collaboration brings LevelTen’s global renewable energy project supply and transaction infrastructure to support 3Degrees’ leading consulting services

Oct. 29, 2020 – Global renewable energy and climate consulting leader 3Degrees today announced a new partnership with LevelTen Energy, enabling the firm to leverage the LevelTen Marketplace to search, compare, and source new renewable energy power purchase agreements (PPAs) for its clients.

The new partnership provides 3Degrees direct access to LevelTen’s searchable PPA marketplace—the largest PPA collection in the world—with more than 3,800 Transaction-Ready Pricing™ offers spanning 21 countries in North America and Europe. It also provides access to quality-controlled market data, automated risk analytics, RFP automation software, performance monitoring, and other powerful efficiency tools. With access to this key renewable transaction infrastructure provided by LevelTen, 3Degrees can further scale its world-class consulting practice, providing global customers with even more choice and value in renewable energy procurement.

“3Degrees’ proven expertise helps organizations around the world implement renewable energy, supply chain and transportation decarbonization, and other climate strategies,” said Rebecca Sternberg, Vice President, Energy and Climate Practice at 3Degrees. “With LevelTen’s unmatched collection of renewable PPA offers and transaction tools, we can now connect these clients to a wider range of high value, low-risk renewable energy opportunities, and do it faster than ever before.” 

The partnership is also indicative of another, broader trend, as the renewable market begins to mature. “Corporate clean energy demand is surging at such a rate that developers and brokers can no longer serve the market in a piecemeal way,” said Kyle Harrison, Senior Associate at BloombergNEF. “Buyer preferences are also changing as the pool of interested customers grows. It makes sense that advisory specialists, like 3Degrees, and infrastructure specialists, like LevelTen, come together to offer a more dynamic product and help scale up the market.”

The collaboration allows both partners to leverage their unique strengths and to achieve their shared objective: supporting a sustainable, carbon-free energy system.

“LevelTen and 3Degrees share the same vision: accelerating the clean energy transition,” said Ryan Warren, Vice President of Marketing at LevelTen Energy. “By bringing together 3Degrees’ customer and execution expertise, and LevelTen’s global energy project supply and renewable transaction infrastructure, we’re both better positioned than ever before to make this future a reality.”

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About LevelTen Energy

LevelTen Energy is the leading provider of transaction infrastructure for the renewable energy economy. Our platform delivers buyers, sellers, advisors, and financiers the automation software, data management, and standardized contracts needed to facilitate faster, safer renewable energy transactions. LevelTen’s marketplace of renewable energy power purchase agreements is the world’s largest, with more than 4,000 Transaction-Ready Pricing™ offers spanning 21 countries in North America and Europe. LevelTen’s CFO-Ready Analytics™ automatically calculate more than a billion data points every day, providing our partners with leading-edge, real-time risk and value insights at modern market scale. Together, LevelTen and our partners share #OneGoal to accelerate the clean energy transition. Visit us at LevelTenEnergy.com to learn more.