Business Wire 02/28/2014 - REDWOOD CITY, Calif. - Pricelock, the most innovative platform for energy professionals to transact, network, recruit and search for jobs, announced transactions in a number of energy commodities on its auction platform for the month of February. Pricelock is the only energy transaction platform supporting forward and reverse auctions of all types of physical energy including coal, railcars, natural gas, power and liquid fuels. Physical energy buyers and sellers are able to leverage Pricelock to create liquidity events that uniquely represent their needs including commodity specifications, delivery, and optionality.
“We are pleased to see some of the biggest players in the energy industry use Pricelock to gain transparency, efficiency and liquidity throughout the energy supply chain,” said Naveen Agarwal, Chief Executive Officer of Pricelock. “We have demonstrated that we are the only one-stop shop for all large volume and cross-commodity energy-based auctions, supported by extremely strong technology that can be personalized by our clients to meet their specific needs. This month has been a testament to the depth, breadth, and flexibility of the auction platform.”
Pricelock allows energy professionals to transact energy products online, connect with other professionals based on their interest in buying and selling specific types of energy, and to recruit talent and find jobs. The platform supports transactions for all energy products and services including motor and jet fuels, physical natural gas, storage and capacity, power generation and capacity, railcar leases and coal. The largest utilities, power cooperatives, power generators, investment banks, refiners, producers, marketers, transportation, industrial and commercial firms participate on the platform. Pricelock’s mission is to provide liquidity for energy products not traded on an exchange.
Pricelock is headquartered in Silicon Valley and the recipient of several awards including Forbes list of America’s Most Promising Companies, Global Energy Award of Excellence by Platts and TiE50 Top Start-Up. Pricelock’s investors include Goldman Sachs, Barclays, Traveler’s Insurance, RenaissanceRe and Artiman Ventures. To learn more about Pricelock please visit www.pricelock.com.
Liat Rorer, 650-517-5418