Cannabis Cultivation Leader Secures $120,000+ in Energy Savings through Online Reverse Auctions with Transparent Energy
CHICAGO and FAIRFIELD, N.J., Nov. 18, 2020 (GLOBE NEWSWIRE) -- Transparent Energy, the national leader in online energy procurement, today announced it completed a successful set of online reverse auctions for Revolution Global, a Chicago-based, multi-state cannabis health and wellness company, to power its 75,000 square-foot cannabis cultivation center in Delavan, Illinois. The online auctions attracted six nationally accredited electricity suppliers, resulting in the sale of more than 36 million kWh of electricity over a 36-month term beginning December 1, 2020.
Held on October 2, 2020, the online auctions compared products over 12-, 24-, 36-, and 48-month terms, enabling Revolution Global to clearly price the market and select the right product and term for its business needs. The competitive process, run on the Transparent Energy online auction platform, more than doubled Revolution Global’s supplier pool, leading to stiff competition that delivered more than $120,000 in savings, a 7.1% reduction, over the term.
“Transparent Energy’s strategic procurement was a critical service to our business, helping us save over $100,000 on our energy costs,” said Tripp Murray, CFO, Revolution Global. “Transparent Energy significantly enhanced the supplier pool bidding on our business, working closely with those suppliers to iron out any regulatory hurdles in advance, while also vetting them to ensure strong financial standing. With this large and fiscally-sound competitive field secured, Transparent ran its online auction process, and we watched our saving increase as the field bid down the winning price.”
Added Dustin Scarpa, Managing Partner and Founder of Transparent Energy, “Cannabis cultivation operations offer a very attractive load profile to energy suppliers in that they run 24x7 at a very steady rate of consumption, but from a regulatory and credit perspective there is a lot of work to do up front. That’s where having close working relationships with every reputable supplie helps Transparent Energy better help its clients, no matter their industry. When you have the best supplier relationships, the best research and operations team, and the best online procurement process in the business, you can reliably deliver results like these that impact the client’s bottom line.”
Revolution Global operates a 75,000 square foot state-of-the-art cannabis cultivation center in Delavan, Illinois, with a second 75,000 square foot growing facility scheduled to be completed on Revolution’s 80-acre campus next year.
For more information on Transparent Energy’ risk-free, zero CAPEX energy advisory and procurement services, or to sign up for the company’s monthly market analysis, please contact firstname.lastname@example.org.
About Revolution Global
About Transparent Energy
Dan Mees for Transparent Energy
Lincoln Zweig for Revolution Global
#TECHSUPERSHOW Conference Party
Idea Showcase with Happy Hour -Lincoln Ballroom
Occupant Wellness in the Indoor Environment