Adapt2 for Asset Managers
The energy and asset management business can be characterized by unique contract origination and rapid onboarding and offboarding of generation assets in all markets. Adapt2 is uniquely positioned to work with Asset Managers by providing a flexible platform to handle complex contracts, energy trading, energy tagging, and rapidly activate new markets to grow with our asset manager customers.
Adapt2 currently supports leading asset management entities in all North American energy markets.
Boston Energy Trading and Marketing (BETM) is a wholly-owned subsidiary of Mitsubishi Corporation. BETM has been optimizing their customers’ generation assets for over 15 years, and is contracted to manage approximately 7,000 MW of gas, renewables, energy storage and coal generation. Leveraging a broad range of knowledge and services in asset management, trade congestion, new generation, energy storage development and ISO monitoring, leading to a need for accelerated and granular access to market data. Having one of the largest and broadest portfolios in the power industry, in 2019 BETM selected Adapt2 Solutions’ flagship Bid-to-Bill (B2B) SaaS product for front and back office operations.
For years BETM had depended on using a homegrown system and spreadsheets to interface with various ISOs. Homegrown systems can require quite a bit of man hours for internal maintenance and can be costly to enhance when a business’s portfolio rapidly grows. BETM needed a trusted partner to help them scale, that would give them robust reporting capabilities and flexibility to meet their unique multi-market needs.
Adapt2 met all of our requirements, and was needed to be an integral part of everything we do, said Senior IT Manager, BETM. “Having all of our reporting requirements and the flexibility that gives end users the ability to report and develop their own reports and quickly find the data they are looking for to perform strategic analysis.”
Located in Massachusetts, Boston Energy Trading and Marketing is a highly trusted and experienced team, in one of America’s innovation hubs for distributed energy. As they continue to help their customers optimize and diversify their portfolio, they manage over 7.2 gigawatts of active power assets across the US and are rapidly bringing on renewable and battery storage assets. Utilizing Adapt2, BETM has been able to easily submit renewable and battery related data into the market in less than five minutes using Adapt2 Front Office. Having a full bid-to- system has enabled BETM not only to quickly submit but to automatically pull reports directly from the settlements module. Using Adapt2 enhances the ability for the Front and Back office teams to communicate on performance data. Without a solution like Adapt2 this would not be feasible in multiple markets in a timely manner, as the team would have to manually pull the reports on an hourly basis, leaving little time for analysis. Having this automated in Adapt2 gives the BETM team the ability to optimize and study market trends and be at the forefront of the energy asset management and marketing industry.
Adapt2 for Asset Management News
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““Renewable battery assets are on the rise and with Adapt2 adding these assets is quick and easy.”
Trusted Energy Market Solutions Partner.
Adapt2 Solutions is honored to be featured in Entrepreneur 360's Best Companies in America, Inc 5000 fastest-growing Texas-based private companies, AI Breakthrough's Best Solution for Big Data, Business Intelligence Group's AI Excellence Award, and the Financial Times Fastest Growing Companies for 2021. We are proud and committed to continue our journey as a leader in the industry for energy market solutions.