, the technology company empowering energy innovators to fight the climate crisis, today announced the acquisition of , the largest utility data provider in the world.
Urjanet's global data access will integrate with Arcadia's industry-leading data and API platform, , enabling Arc to become the universal software layer for the zero-carbon economy.
Urjanet significantly expands Arc's data coverage in the US to more than 95 per cent of residential and commercial accounts and globally across more than 9,500 utilities, including electric, gas, water, and waste, in 52 countries. This access to global, high-fidelity energy data will allow businesses around the world to leverage its network effects and enable a wide range of use cases, including energy optimization, renewable energy, payments, and carbon accounting.
Today, use software to accurately manage their environmental, social, and governance (ESG) reporting, instead relying on manual processes and estimates. The Arc platform solves this problem by providing companies with actual, building-level meter data through easy-to-use APIs. Ultimately, the expansion will empower any company, in any industry, with the on-demand data and tools needed to monitor, report, and act on their climate impact and build innovative energy products.
"Urjanet has built a fantastic business capturing utility data across 30 per cent of the Fortune 500. With Urjanet joining Arcadia, we will be able to serve customers globally with the most comprehensive software solution in climate tech," said Kiran Bhatraju, CEO of Arcadia. "Without data access, it will be impossible to meet the urgency and size of the climate crisis. Through our combined capabilities, Arc will help companies in every industry plan for and act on their climate responsibilities, pulling forward a zero-carbon future."
"When I met Kiran a few years ago, it was clear that Arcadia and Urjanet shared one of the most important visions in the decarbonization movement: democratizing access to energy data," said Sanjoy Malik, CEO of Urjanet. "We can now work together to accelerate the energy transition and help companies achieve their sustainability goals."
Today's announcement adds to Arcadia's significant recent momentum. The company delivered 155 per cent YOY organic revenue growth in 2021, launched the , and passed the milestone in April as the leading manager of community solar in the United States. Earlier this month, Arcadia led by J.P. Morgan Asset Management's Sustainable Growth Equity Team, and of Fast Company's 2022 World Changing Ideas Awards. The company, now valued at $1.5 billion, has raised $380 million to date.
Read more about Urjanet joining Arcadia from Bhatraju on Arcadia's blog. To learn more about Arcadia and the Arc platform, please visit.
is a climate technology company enabling a zero-carbon economy. By unlocking high-fidelity, global energy data for the first time, the platform combines easy-to-use data and APIs under one roof to allow any company to act on its environmental impact and build the next generation of energy products and climate tech solutions. Arc democratizes access to data from more than 9,500 utility providers in 52 countries, covering more than 95 per cent of US residential and commercial utility accounts.
Founded in 2014 on the belief that everyone deserves access to clean energy, Arcadia also manages the nation's leading , helping to tackle energy injustice while spurring economic growth with more than 750MW of solar under management. Join us in our mission and find out how you or your business can help achieve the vision of a 100 per cent zero-carbon future at.
This story is provided by PRNewswire.will not be responsible in any way for the content of this article. (ANI/PRNewswire)
( With inputs from ANI )
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor