Accel-KKR has made an investment in Yes Energy, a North American energy market data firm. No financial terms were disclosed.
Boulder, CO & Menlo Park, CA, April 28, 2022 – Yes Energy, a leader in North American energy market data, today announced a significant investment from Accel-KKR, a leading technology-focused, private equity firm. With this investment, Yes Energy will accelerate investment in its best-in-class power market data and product suite in order to serve its rapidly expanding market, and accelerate partnership and acquisition opportunities.
Due to their unique structure, North American power markets are the most data-intensive, time-sensitive commodity markets in the world. These markets are also undergoing significant change. The recent convergence of accelerated investment in renewable power, emerging technologies – such as battery storage and highly responsive power demand – and increasingly dramatic weather events, has resulted in shifting patterns of volatility and market uncertainty. Yes Energy offers robust, high-quality, energy data from all North American power markets and helps traders and investors evaluate risks and opportunities by delivering actionable data on a robust and versatile platform.
Because the economics of power markets are settled at a very granular level, participants in these markets must be highly data-savvy. Given projections of $120 trillion capital investment throughout the entire clean energy value chain globally through 2050 Global energy transformation: A roadmap to 2050. IRENA, 2019.
https://www.irena.org/publications/2019/Apr/Global-energy-transformation-Aroadmap-to-2050-2019Edition, the data challenge will only increase in complexity in the future.
“Our new partnership with Accel-KKR energizes our next stage of growth and brings us new opportunities to say ’Yes’ to customers,” said Michael McNair, CEO and founder of Yes Energy. Originally founded in Boulder, CO in 2008 to enable power market participants to optimize their data-intensive daily trading and hedging operations, Yes Energy’s customer base has grown to include any company seeking to analyze investment opportunities in a highly data-intensive commodity market.
McNair added, “Anyone looking to invest in or navigate North American power markets during this time of energy transition also needs access to highly robust market data. People tend to think of data as a product or a ‘stock’, but we think of what we do as delivering a service ‘flow’. The data in these markets is so dynamic that consumers find they are not served well by purveyors of an all-purpose database tool. Instead, these increasingly sophisticated consumers want the information to be supported by experienced data system operators and engineers. That’s why so many longtime energy players and new entrants to North American power markets turn to Yes Energy.”
Dean Jacobson, Managing Director of Accel-KKR, said, “Since its founding days, Yes Energy has been at the forefront of delivering data analytics expertise for power markets, and we have been impressed by the company’s clear product vision, strong customer retention rate, a talented management team and customer-centric employee culture. During this time of energy market transition, we believe Yes Energy is well positioned to provide mission-critical data and solutions to a growing market base. We are excited to back Michael and his team as they scale.”
About Yes Energy
Yes Energy is a leader in power market data. Founded in Boulder, Colorado, Yes Energy set out on a mission to deliver nodal power traders powerful, insightful, actionable data – it now offers the most robust, high-quality data for companies participating in the most data-intensive commodity markets on the globe. Yes Energy creates innovative solutions to power the businesses of not only traders, but any company seeking to market, originate, develop or operate energy infrastructure, or simply to better understand the inner-workings of this super critical industry. In 2021, Yes Energy was listed among Denver’s Best Places to Work by the Denver Business Journal.