SAN FRANCISCO, April 6, 2017 /PRNewswire/ -- Today, 3Degrees and Origin Climate announced that 3Degrees has acquired Origin Climate. Many U.S. and global organizations, from corporations to utilities, are navigating the complex world of carbon, renewable energy and sustainable development goals without the necessary resources. The combined company brings together industry-leading pioneers to offer a comprehensive range of renewable energy and climate expertise to transform clients' organizational goals into impactful strategies and results.
Erin Craig and Mark Mondik, the managing directors of Origin Climate, will take on leadership roles within the newly expanded 3Degrees. Craig will lead the consulting organization that will serve clients' climate and renewable energy needs. Mondik will lead the carbon market business, including carbon credit origination. Both Craig and Mondik will join the 3Degrees executive leadership team and board of directors. Dan Kalafatas will remain the executive chairman and Steve McDougal will continue to serve as CEO.
"We are pleased to join forces with Origin Climate. Our product and service offerings complement one another exceptionally well, enabling us to serve the tailored needs of more customers and serve them more comprehensively, both in the United States and around the world," said Kalafatas.
Expanded Custom Offerings for Commercial and Industrial Clients
Over the past several years, many organizations have significantly broadened their climate and energy goals. These leaders need a wide range of products and an evolved set of services to ensure their success. In recent years, Origin Climate has quietly advised clients on more than 1400 MW of completed renewable power procurement transactions, and become a major force guiding corporate renewable energy strategy in the United States. By joining forces with Origin Climate, 3Degrees will enhance the depth of its offerings across consulting and transaction services—including PPAs, contracted purchases from competitive energy providers, green tariffs, and tax equity and other owner-investment options—as well as customizable renewable energy certificate (REC) and carbon offset products sourced from around the globe.
"Origin Climate guided our organization as we committed to achieving 50% renewable energy and an absolute reduction in greenhouse gas emissions for our highly distributed content delivery network spanning 120 countries," said Nicola Peill-Moelter, Ph.D., senior director of environmental sustainability for Akamai Technologies. "They helped us develop our procurement strategy and led us through our first virtual PPA (VPPA) process. We are excited to see how Origin Climate will bring success to more companies as part of the 3Degrees team."
The expanded 3Degrees team provides energy users an unbiased assessment of a variety of climate-smart energy supply options. Their approach enables internal stakeholders to weigh in on the costs, risks and benefits of all possibilities, navigate the regulatory complexities, and help determine the best option. As a result, execution can proceed quickly and without surprises.
"We're seeing a number of companies with impressive renewable energy goals rushing to sign VPPAs," said Craig. "VPPAs are a great structure, but they're not for everyone. The companies we work with are seeking renewable energy as a primary objective; participating at-risk in wholesale power markets is not on their 'to-do' list. By combining 3Degrees' leadership in commercial, industrial and utility sectors with Origin's experience advising companies on a wide variety of energy supply structures, we are now uniquely positioned to help clients identify and implement the solution that best meets their needs—whether a VPPA or otherwise."
Serving the Utility of the Future
For more than a decade, 3Degrees has helped investors and publicly owned utilities across the United States with custom compliance and voluntary REC products in order to meet renewable portfolio standards, as well as create successful voluntary renewable programs that engage their customers and drive satisfaction.
As utilities seek to retain customers and attract new economic development to their service territories, 3Degrees is now better equipped to help utilities navigate the renewable energy requirements of their largest energy users. 3Degrees' leadership in managing community solar and voluntary green power programs is augmented by Origin Climate's trail-blazing work designing and implementing one of the first utility "green tariffs" to allow electricity users to buy 100% project-specific renewable energy through their utility.
"For more than a decade, 3Degrees has helped us deliver compelling renewable energy choices that meet the commitments and interests of our customers. With the integration of Origin Climate, 3Degrees is even better positioned to serve a growing interest among our largest customers and position Silicon Valley Power as a utility of the future," said Larry Owens, customer services manager of Silicon Valley Power, one of the top utility sellers of renewable energy.
Strong Alignment of Culture and Values
Both Origin Climate and 3Degrees are certified B Corporations. The combined company retains the 3Degrees name and now has more than 100 employees spanning offices in San Francisco, Portland, Ore., Seattle, and Richmond, Va. The Origin Climate team members will relocate to the 3Degrees headquarters in downtown San Francisco.
Added McDougal, "3Degrees and Origin Climate's core values and company cultures are perfectly aligned, providing foundation to craft creative, impactful solutions for clients and make a greater impact on energy markets and climate change."
3Degrees works with organizations to build and implement customized renewable energy and carbon mitigation strategies. As a B Corp, the 3Degrees team aims to fulfill the vision of "people using business as a force for good" and prides itself on being the honest and trusted voice in helping clients develop and implement strategies to fight climate change. For additional information about 3Degrees, visit 3degreesinc.com.