The news: Portland, Ore., startup Ren Energy has raised $2.3 million, according to a filing with the U.S. Securities and Exchange Commission. The company declined to comment on the filing when contacted by GeekWire.
The pitch: Ren helps corporations fulfill their climate goals by analyzing the carbon impacts of businesses in their supply chain, and matching them to clean energy projects in proximity to those factories.
The backstory: Eric Jen, Nike’s former director of renewable energy, launched the company in 2018. Jen, who serves as CEO, previously helped develop wind projects internationally with Goldwind and worked on clean tech projects with Procter & Gamble.
Morgan West is Ren’s co-founder and head of product and design. His past roles include design work for Under Armour, Philips, Nokia and Google.
The company has five employees and a slate of advisors with experience in clean energy and supply chain.
Ren participated in VertueLab’s innovator program.
Carbon math: Ren fits into the climate tech sector subcategories of carbon accounting and carbon fintech. This increasingly hot field includes companies that help corporations identify, tally and track their carbon emissions, and devise and execute plans for cutting their climate impacts.
In the Pacific Northwest alone, there are multiple startups in the field. Muir AI, Earth Finance, Scope 5, and Carbon Direct focus on carbon accounting and reductions strategies, and some additional services. LevelTen Energy and Ever.green aid companies in forging contracts with clean energy producers.
Ren is something of a hybrid, tackling supply chain accounting and facilitating power purchase agreements with clean energy providers internationally.
