Energy Tech Company Raises $43M, Expands Houston Offices

Energy product management platform Validere, which has its fastest-growing hub in Houston, plans to expand its local team after this week’s announcement that it has raised $43 million in funding.

The Canadian data technology company currently has about 40 employees in Houston, but plans to hire more employees in engineering, sales and marketing roles.

Validere expanded its operations in Houston in 2018 to get closer to potential new US customers in energy and commodities. The company’s other main centers are in Calgary and Toronto. Validere’s platform monitors, validates and forecasts critical facility-level data to enable companies to improve operations and make better business and emissions decisions.

“Validere’s mission is to ensure human prosperity through abundant, sustainable and efficient energy. We facilitate this by integrating our customers’ core business with new environmental initiatives,” said Nouman Ahmad, co-founder and CEO of Validere. “To successfully manage the energy transition, environmental attributes cannot be managed in silos, they must be integrated into day-to-day operations and business decisions.”

The company’s customers include 45 energy companies, including Canada’s Vermilion Energy Inc. and two major producers. It monitors the contents of more than six million barrels of oil daily as it positions itself to become a leading data provider and “system of record” for energy commodities across the global supply chain. Validere is the only platform that integrates ESG market data and insights with traditional commodity markets, giving clients a holistic picture of their key trading decisions, officials said in a press release.

Validere also wants to continue investing in product engineering for its energy commodity management platform, the statement said. The company’s cloud-based software collects and analyzes data for energy companies to make informed operational decisions, gain visibility into price and quality, measure and track carbon intensity and ESG measures, and more.

Validere acts as the data layer for several environmental monitoring initiatives, including a tokenization of voluntary carbon credits generated from a carbon capture, use and storage (CCUS) project that was traded on the blockchain, as well as the certification of operators who produce responsibly sourced natural resources. gas (RSG) in partnership with leading third-party organizations such as Xpansiv, where RSG is verified to meet certain ESG standards such as methane emissions intensity.