Our Investment in Verse
Electricity makes the world go round.
Generating all that electricity also drives 25% of the world’s emissions, largely because we burn fossil fuels to get electricity. So to avoid catastrophic climate change, organizations must transition to clean power as quickly as possible.
Companies, aware that energy market volatility and increasingly evident climate change leave their operations highly exposed, are ready for the switch. A few corporations have helped catalyze the clean energy market by creating Power Purchase Agreements (PPAs), but it is very difficult for most companies today to secure clean power.
If procuring and managing clean energy remains highly complex, time-consuming, and expensive, most organizations will struggle to make the transition. Even those that can afford to procure clean power today still rely on manual processes and outdated spreadsheets that are ill-suited for delivering robust, data-driven analysis. Carbon-free energy purchases won’t scale on Excel.
But what if it was possible to purchase hundreds of megawatts on an intuitive software platform that helped manage everything for you?
Enter Verse.
Verse is building a SaaS platform called Aria that leverages generative AI to provide an end-to-end solution for organizations to buy, manage, and report on clean power at a fraction of the time and cost required today.
For the first time, companies can define their clean power goals, design and procure a portfolio of clean energy assets, manage and optimize those assets, and report on portfolio performance — all from one platform. Overall, we expect that this can reduce the cost of buying clean power by up to 70%, democratizing carbon-free energy for all companies.
On the Aria platform, organizations can set parameters that target specific goals (e.g., cost, emissions, or hourly matching), hedge exposure to fossil fuel price fluctuations, optimize clean power asset management, and deliver verifiable reports on portfolio performance. The platform can help companies at all stages of their emissions reduction journey, from transacting power purchase agreements (PPAs) to optimizing for 100% renewable energy, emissionality, or 24/7 CFE (carbon-free energy).
At Collab Fund, we are proud to work alongside Seyed Madaeni, Matt Penfold, and the entire Verse team. We are particularly excited to support them in this seed round along with Coatue, Twine Ventures, My Climate Journey, First Minute Capital, Future Positive, and Incite.
By enabling organizations to reduce their energy costs with clean power and dramatically simplifying the clean power procurement process, Verse’s Aria platform will help scale decarbonization across industries.