Ascend Analytics, a provider of market intelligence and analytics solutions for the power industry, announced the appointment of Matt Tormollen as chief executive officer, marking a leadership transition designed to support the company’s continued growth and innovation in energy market analytics.
Tormollen succeeds Ascend founder Dr. Gary Dorris, who will transition into the newly created role of executive chair and chief economist. In this role, Dorris will continue shaping the company’s long-term strategy and vision while remaining closely involved in guiding the organization’s direction.
The leadership change comes as Ascend Analytics builds on more than two decades of analytical work supporting decision-making across the power sector. The company said the transition will help accelerate investment in forecasting precision, product innovation, and expanded geographic coverage while strengthening relationships with customers navigating increasingly complex energy markets.
Tormollen brings decades of experience leading enterprise software companies focused on regulated energy markets. Most recently, he served as CEO of POWWR, an enterprise software provider serving energy suppliers and brokers. During his career, he has led technology platforms supporting operations across energy supply chains and infrastructure, with a focus on improving transparency, operational resilience, and capital efficiency.
Ascend said the appointment follows a period of strong momentum after receiving strategic growth investment two years ago from Rubicon Technology Partners, Galvanize, and Silversmith Capital Partners. The company reported record performance in 2024 and 2025 as it expanded its solutions used by utilities, developers, financiers, and independent power producers.
Founded more than two decades ago, Ascend Analytics now has a team of approximately 160 professionals serving over 250 customers. Its forecasts and insights support power supply planning, procurement, and investment decisions, including assessments tied to more than $50 billion in project financing for renewable energy and storage assets.
The company’s analytics platforms help energy market participants plan, operate, monetize, and manage risk for power infrastructure across time horizons ranging from real-time operations to 30-year forecasts.
KEY QUOTES:
“Power market participants, now more than ever, need clarity and confidence in decision-making and responsible stewardship of capital as they address the pressing challenges of power supply and structural change to energy markets. Matt’s track record of operating and scaling high-impact software and technology businesses in dynamic market environments demonstrates the operational excellence to continue to grow Ascend. I look forward to partnering closely with Matt as Ascend extends its positive impact on a transforming energy landscape.”
Dr. Gary Dorris, Executive Chair & Chief Economist, Ascend Analytics
“Our customers are navigating accelerating load growth, volatile markets, and unprecedented capital deployment decisions. My focus is simple: protect and enhance the analytical integrity and trusted, bankable valuations Ascend is known for, invest in product innovation, and deepen our partnership with customers as they plan, operate, and finance the next generation of power infrastructure.”
Matt Tormollen, Chief Executive Officer, Ascend Analytics
“Gary and the Ascend team have built a differentiated approach to power market analytics and intelligence that utilities, developers, financial institutions and other energy market stakeholders trust with their most complex decisions. This transition reflects and extends the company’s momentum. Matt’s experience and skill set as a technology executive, advisor, investor, and coach will accelerate Ascend’s market leadership, and we’re excited to support the team as they continue to scale and deliver for their customers.”
Alison Beyer, Principal, Rubicon Technology Partners
