Market Research Report: Clir Renewables

Company Overview

• Name: Clir Renewables

• Mission of the Company: To minimize human impact on the planet by accelerating renewable energy production and improving the economics of renewable energy projects.

• Founded: January 2017

• Founders: Founded by a team of wind industry experts.

• Key People in the Company:

• Gareth Brown, Chief Executive Officer

• Craig McCall, Chief Revenue Officer

• Michael Reid, Chief Technology Officer

• Angel Valerio, VP of Operations

• Board Members: Jenny Yang, Ian Irvine, Michael Ciaramella, Tom Rand

• Headquarters: Vancouver, Canada

• Number of Employees: Over 125 employees globally.

• Revenue of the Company: No information is available.

• What is the Company Known For: Clir is recognized for its renewable energy intelligence platform that improves wind and solar portfolio returns using data analytics and benchmarking to enhance energy production, mitigate risks, and drive financial performance.

Products

• Clir Portfolio

• Description: A data-driven solution that maximizes asset performance by detecting underperformance and identifying optimization opportunities.

• Key Features: Utilizes site data, market insight, and AI to enhance technical and financial performance.

• Clir M&A

• Description: Provides data-driven insights for mergers and acquisitions in the wind and solar sectors.

• Key Features: Leverages a global industry dataset to identify opportunities and assess risks, enhancing decision-making during acquisitions and sales.

• Clir Risk

• Description: A framework for risk management that minimizes operational costs and improves asset certainty by leveraging industry data.

• Key Features: Enhances risk identification and mitigation strategies using data-evidenced approaches.

Recent Developments

• Funding Rounds:

• March 6th, 2024: Secured CAD$4.3 million in a funding round with investments from Tokio Marine HCC, Longbow Capital, ArcTern Ventures, and BDC.

• Partnerships:

• September 14th, 2023: Partnership with Tokio Marine to map risks for renewable energy insurance across 50 projects in Brazil.

• Partnerships with GCube Smart Insurance, Enian, and Power Curve to enhance renewable energy projects.

• Product Launches:

• November 22nd, 2023: Launched a new software for optimizing offtake strategy using over 200 GW of industry data.

• April 24th, 2023: Introduction of "Clir Insight for Asset Development" aimed at optimizing the design, development, and operation of assets.

• Performance Enhancements:

• Collaboration with Grupo México to enhance wind portfolio performance.

• September 20th, 2023: Contracted a multi-gigawatt offshore wind portfolio to maximize returns through Clir’s software.

• Market Recognition:

• March 29th, 2023: Ranked as one of the Fastest Growing Companies by the Financial Times.

• September 23rd, 2022: Honored as one of Canada’s Top Growing Companies.

Summary

Clir Renewables stands out as a key player in the renewable energy sector, driving innovation through its comprehensive intelligence platform tailored for wind and solar assets. With a robust portfolio of products including Clir Portfolio, Clir M&A, and Clir Risk, the company offers data-driven solutions to maximize asset value, streamline operations, and navigate M&A landscapes. Through strategic partnerships and consistent innovation, Clir continues to enhance renewable energy production and manage associated risks.