Genscape partners with PFL for more transparent RIN trading
Genscape has formed a strategic partnership with Progressive Fuels Ltd., an independent broker in the physical and financial renewable fuel markets. According to Genscape, the new partnership lays the groundwork for a streamlined, more transparent way to trade verified RINs in the renewable fuels market.
“The strategic partnership between Genscape and PFL clears a path for more liquid, more efficient RINs trading,” said Robert Barton, managing director of ag and biofuels at Genscape. “The pairing is great. Genscape's RIN Integrity Network creates trust in the RIN, and PFL’s Easy Trade platform enables efficient electronic trading of a trusted product. We are excited to work with PFL to offer this service to the industry.”
The two firms say this new joint venture will create an electronic marketplace for Genscape-verified RINs providing buyers and sellers the ability to trade in a more liquid market through PFL’s Easy Trade platform. “Easy Trade is pioneering the transition of RIN trading from voice-negotiated deals to an electronic, more transparent channel,” Genscape stated.
Genscape's RIN Integrity Network is one of several quality assurance programs (QAP) for RIN verification that aligns with the EPA's QAP requirements established to bring confidence back to the RIN markets.
“Recent fraud in the D4 RIN market has created trust issues and resulted in an uneven playing field for producers,” said David Dunn, commodities analyst at PFL. “The stringent requirements of the Genscape QAP program will allow PFL to broker their approved plants' RINs on equal footing with those from the largest producers.”