Dive Brief:
- Gravity Climate has introduced a new Energy Management Marketplace designed to help clients find ways to save both energy and money. This was announced on August 14.
- The platform uses carbon accounting data to pinpoint how switching to certain energy providers can lower costs or emissions based on specific business practices.
- It also offers financing options and forecasts the expected savings from energy-saving projects, which customers can monitor over time.
Dive Insight:
Gravity utilizes AI to track energy use and costs by scanning utility bills and invoices. By connecting with over 9,000 utility and telematics providers, the platform serves a varied clientele that includes manufacturers, distributors, contractors, and investment firms.
The marketplace is exclusively for Gravity’s customers, integrated into their software. It identifies areas where clients can save energy and suggests alternative providers suited to their unique operations and locations.
Gravity claims to have helped customers save $16 million through the solutions it offers. Co-founder Saleh ElHattab highlighted that inefficient energy expenses result in a significant loss for businesses, amounting to $2 trillion annually.
He stated, “This wasteful spending can be redirected to enhance other business areas.” Many organizations already collect energy data manually for corporate disclosures, and Gravity aims to simplify this process.
ElHattab explained that the platform uses this data to find cost-saving strategies and assist with their implementation. The marketplace features over 50 different improvement options, including solar installations, LED retrofits, and fleet electrification.
Additionally, Gravity connects companies with providers who can identify tax incentives and facilitate project financing, often negotiating better rates with these partners.
Akshai Baskaran, the company’s VP of energy management, assured that only reliable partners with proven solutions are included in the marketplace. “Our objective is to enable clients to make confident choices that reduce costs and emissions without unnecessary risks,” he noted.
Gravity is also inviting more energy management providers to apply for inclusion in the marketplace.