REDWOOD CITY, Calif.--(BUSINESS WIRE)--Two of the largest global industries – technology and energy – come together today as Pricelock Marketplace launches the first mobile app available for energy auction platforms. Marketplace is Pricelock’s powerful online auction platform designed for major energy buyers and sellers worldwide. The new app, called Pricelock Mobile™, is their latest step in providing innovative technology solutions that improve the speed, efficiency and transparency of how energy is purchased. The free app is available for iPhone, iPad, Android and Blackberry (www.pricelock.com/mobile).
“Our mission is to use technology to transform the way the energy is bought and sold by streamlining the entire process, creating a more efficient and liquid market, and contributing directly to the bottom line of companies that buy and sell fuel, natural gas and coal,” said Naveen Agarwal, CEO of Pricelock. “Our new mobile app is the next step forward.”
Pricelock Mobile notifies energy suppliers about relevant upcoming auctions and allows them to easily use their phones to track how their bids are faring. Buyers can watch auctions in real-time from their mobile device so they don’t have to be in their office or tied to a computer to watch firsthand how quickly prices move as suppliers compete. Pricelock Mobile provides managers and regulators with easy view-only access to monitor auctions real-time regardless of where they are.
“We are excited to see how an industry that has been purchasing energy the same way for decades is embracing our solution quickly. We help our customers not only improve their business metrics, but allow them to pass on better pricing to their customers,” said Agarwal. “They are also reaping the regulatory benefits of transparency and efficient record keeping for energy purchases, which makes life easier for them and their regulators. It is a win-win-win,” he added.
According to Agarwal, the company created Pricelock Mobile in response to customer demand and has received very positive feedback in beta tests from both buyers and suppliers who were able to use their phones to watch the fast-paced auction process. The app is designed to make it easy for users to access and view detailed auction information such as volumes, products, locations, dates and awards. Users can also view awarded business in real-time and check historical data on the go.
“Pricelock Mobile makes life easier for everyone—buyers, suppliers and regulators,” concluded Agarwal.
About Pricelock
Pricelock, headquartered in Silicon Valley, CA, offers online fuel and energy solutions to businesses of all sizes. By leveraging technology and energy market expertise, coupled with deep experience in the energy markets, Pricelock is bringing efficiency and empowering energy buyers and sellers worldwide. Pricelock Marketplace is the first customized, online energy-auction platform that allows utilities, power plants, government and large commercial and industrial companies to buy and sell natural gas, motor fuels and coal. Pricelock’s award winning solutions have been recognized by the leading industry trade organizations including America’s Most Promising Companies by Forbes magazine, Platts Global Energy Awards, “hottest companies” in Silicon Valley and Web Marketing Standard of Excellence award. A full suite of Pricelock’s solutions can be found at www.pricelock.com.