3TIER
An integrated suite of energy assessment, forecasting, asset optimization and measurement solutions.
| Date | Investors | Amount | Round |
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| N/A | €0.0 | round | |
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$14.7m Valuation: $14.7m | Acquisition | ||
| Total Funding | 000k | ||
3TIER, Inc. operates as a specialized provider of renewable energy assessment and forecasting services. Founded in 1999 by scientists with expertise in weather and climate modeling, the Seattle-based company established itself by offering data-driven analysis for the renewable energy sector. In December 2013, 3TIER was acquired by Vaisala, a Finnish environmental and industrial measurement company, for $14.7 million, and now operates as a subsidiary.
The company's core business revolves around providing project feasibility, asset management, and forecasting services to a global client base that includes utilities, energy traders, project developers, and financiers. 3TIER's services cover the entire project lifecycle, from the initial stages of site identification and evaluation to providing ongoing operational forecasts for wind, solar, and hydropower projects. This is achieved through sophisticated datasets and models that analyze long-term weather and climate data to predict energy production and assess financial risks.
Revenue is generated by providing these specialized services and data products. For instance, its services assist clients in pinpointing optimal project locations, securing financing, improving energy trading schedules, reducing imbalance penalties, and managing asset portfolios. The company developed tools like the 'Firstlook' assessment for preliminary site evaluation and the 'Fullview' assessment for comprehensive resource analysis. It also offered the 3TIER Dashboard, an online interface for data customization. A significant milestone for the company was making its global wind and solar annual averages freely available through collaborations with platforms like the International Renewable Energy Agency (IRENA)'s Global Atlas and Google's Map Gallery, which increased access to high-quality renewable energy data for researchers and the public.
Keywords: renewable energy assessment, energy forecasting, wind power analysis, solar energy data, hydropower project services, climate risk analysis, project feasibility studies, asset management energy, energy trading data, Vaisala, energy yield assessment, site identification renewables, weather modeling, grid integration, power purchase agreements, due diligence energy projects, operational forecasting, renewable energy datasets, energy portfolio management, environmental forecasting