climate technology company Arcadia raising 200 million. Led by
Jpmorgan Sustainable Growth Equity team. Arcadia says its mission
is to stop climate change by breaking the fossil fuel
monopoly and that it's doing so by providing companies with
access to renewable energy sources through its technology platform and
its community solar program. So joining me now is
the co founder and C. 00. Of Arcadia
Kate Hennington. Okay, thanks so much for coming
on the show so much for having me. We're
happy to have you tell me more about what your
company does and how it's helping other companies be more
eco friendly. Yeah, so, Arcadia is a
software platform that is unsmiling energy data. Energy is
something we all interact with on a daily basis,
millions of people around the globe use it. But
energy hasn't been digitized yet, it hasn't been modernized
and that's because there hasn't been access to data.
And so what Arcadia has done is really create a
software platform that will let anyone in the world access
and use energy data. And we think that's gonna
be the fundamental software layer that unleashes, really the
transition, the decarbonization we need in our in our
energy economy. And obviously you have some big backing
in this effort. You've raised a lot of money
. I know Jpmorgan also saying that it's committing$2.5
trillion over the next 10 years to accelerate a low
carbon economy and a transition to that of course to
fight climate change? What does Jpmorgan's investment mean for
you, how are you going to use that to
expand your services? Yeah, I mean,$200
million dollars is it's a wonderful amount of resources to
have to tackle. What is a very large problem
. We all know that the climate crisis is here
and that's really a global effort we need. And
so having these resources allows us to get more energy
data to make our energy data better um and really
to uh serve our customers. So we're we serve
both residential and commercial customers and really expanding that to
more use cases and around the world. So We're
really excited for the$200 million dollars to give us
more access to the energy data. Now, let's
talk about some of the companies that use your services
and access your data ford oracle Airbnb. Just to
name a few, certainly some big name companies out
there, what's the use case as to how one
of these companies would use your services? Yeah.
So if you think about it, everybody uses energy
every day. And so there's really a spectrum of
use cases that our software can support, which is
what makes us such an exciting investment because there's really
, so many places we can go. So just
to just to give you a couple examples, um
, we know right now that every client, the
company really wants to be a climate company. So
you're seeing companies very interested in their energy measurement,
use reporting and ultimately influencing how they use energy so
that they can become more sustainable. So we have
companies using our platform just to measure their energy usage
and then influence it to drive it down. We
have E. V. Car manufacturing using our technology
to make great consumer apps that tells the customer when
to charge their electric vehicle, how much it's gonna
cost. Maybe you should charge at a cheaper time
. We have solar developers using our technology to provide
four million proposals around the country to get more residential
roof, solar rooftops on people's homes. And so
just the broad spectrum of how people use energy.
There's an arcade a use case for energy data and
all of those. And so through those use cases
, we're gonna make energy smarter cleaner, more responsive
to the consumer. And really it's it's time,
you know, it's really time for the energy sector
, which is a multi trillion dollar sector uh,
to have the digitization and modernization that so many other
sectors have gone through with software and data and and
that's what Arcadia is here to do is to provide
the software layer to allow energy to modernize. Because
we need to kate. Let me ask you one
more question. What is the data that you're hoping
to share with your investor Jpmorgan as to how you
are making meaningful improvement when it comes to combating the
climate crisis. Yeah, so it's very important in
Arcadia that were held accountable, right? I mean
, we want to be transparent, we want to
show our impact. It's something we're really proud of
through our technology. We've put over 700 megawatts$1.5
billion worth of new solar projects in the ground.
And you know, we're driving impact on solar proposals
, millions of solar proposals a year. We hope
greater e. V. Adoption. And so really
there's gonna be so many use cases that we measure
, uh, and report on that. That should
make the investor community jPMorgan really excited about how we're
bringing cleaner technology, decentralized technology, decarbonization to the
grid. Great Kate Hennington, co founder and Ceo
O at Arcadia. Congratulations on the major funding round
and thanks for joining us.