Clear Current: AI Powered Virtual Energy Manager
Announcing Clear Current's $4M+ Seed raise
U.S. enterprises spend over $260B annually on electricity today1 — and can continue to expect larger power bills over time with the explosion of AI and consequential record-high power rates. In addition to increasing prices, 17% of all electricity invoices from utilities contain errors, resulting in dramatic overspending from energy consumers with little and burdensome means of recourse. All this stems from deeply inefficient power procurement and management systems, where businesses track energy use and expenditure on spreadsheets without expert input, making direct power procurement obscure even to big consumers.
In 2024, we partnered with industry veterans John Reuter (former chief revenue officer at Bloom Energy), Jake Masters (serial entrepreneur and ex-CTO at Redaptive), and Eric Hines (former grid engineer and co-founder of a company serving crypto mining and hyperscale industries) to build Clear Current. Clear Current is the energy management central nervous system for enterprise businesses, providing energy procurement teams with the industry’s first AI-enabled energy enterprise resource planning (EERP) solution. It is the smart energy management solution for large-scale consumers.
Today, we’re excited to announce that Clear Current has secured over $4M in its oversubscribed Seed round to accelerate market expansion across the U.S. and fuel AI development.
Clear Current’s proprietary AI automates tasks that traditionally require months of manual analysis, reconciliation, and specialized subject matter expertise. Its system creates actionable insights from thousands of documents to reduce electricity costs and carbon emissions, automate energy procurement and management, and enable cost-effective carbon reduction for large emitters – all while saving customers from overpaying on their energy bills and on time spent to procure the energy associated.
Clear Current is already piloting its solution with major organizations like AB InBev as one of ~40 companies selected out of 2,600+ applicants for the company's Accelerator 100+ program. As Clear Current continues to expand the depth of its engagements with customers, it will build up proprietary usage data on customers’ hundreds of sites. This will allow it to get smarter about serving customers’ individual needs via unique products not available on any other platform, deepening customers’ value from Clear Current and demonstrating clear ROI over time.
Thanks as always to the Clear Current team, as well as to Rho Ignition, Coreline Ventures, and Avesta Fund for their support of Clear Current’s mission to fundamentally reimagine how enterprises manage their energy assets. To learn more and get involved in what Clear Current is building, reach out to the team here.
1 Source: EIA