Pricelock Continues Rapid Market Growth Adding Propane Auctions

Volume Grows from $2+ Billion in Energy Products Auctioned in 2013 to over $1.4 Billion in the First Half of 2014

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friend
The energy buying and selling market is clearly aware of our superior technology and our ability to create on-demand energy markets. -Tripp Dunman, Managing Director, Sales & Marketing

Redwood City, CA (PRWEB) July 16, 2014

Pricelock, the most innovative platform for energy professionals to transact energy, announced that it has successfully completed a number of new auctions and online RFPs for propane, coal, natural gas, motor fuels, power, and natural gas pipeline capacity. The interest in auctions is coming from multiple buyers and sellers, and the company continues to deepen its relationship with its client base.

"Our customers are adopting Pricelock technology for their energy needs. The energy buying and selling market is clearly aware of our superior technology and our ability to create on-demand energy markets," said Tripp Dunman, Managing Director, Sales & Marketing at Pricelock.

“Our ability to help our customers across a broad range of products has always been our goal, and we are very pleased with the growth and customer adoption we are seeing,” added Naveen Agarwal, CEO of Pricelock.

Pricelock’s auction platform supports forward and reverse auctions of energy and energy services of all types, including natural gas, power, coal, liquid fuels, transportation, capacity, and storage. Pricelock’s participant list contains more than 450 buyers and suppliers ranging from the largest producers to smaller specialized firms. In addition to creating competitive markets for physical energy products, Pricelock is able to greatly increase the efficiency of the buying & selling process.

About Pricelock:

Pricelock allows energy professionals to transact energy products online. 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 http://www.pricelock.com.


Contact