NEW YORK — In advance of Climate Week, Crux, the ecosystem for transferable clean energy tax credits, announced that its platform is being used by developers, tax credit buyers, and intermediaries, with hundreds of millions of dollars in deals in process.
On the Crux platform, intermediaries use branded portals to manage syndication of credits to existing clients and connect to new developers and credit buyers. By convening buyers, sellers, and intermediaries around the same powerful software, Crux is building the deepest and most liquid market. Buyers can see all available credits and work directly with trusted advisors, while developers can distribute their projects to the widest cross-section of the market.
“As we approach Climate Week 2023, sustainable finance is taking off,” Crux CEO Alfred Johnson said. “Intermediaries will be critical to scaling the new multi hundred billion dollar market for transferable tax credits. Banks, tax advisors, brokers, and syndicators face a common set of challenges: they need access to the entire market to balance supply and demand and branded workflow tools to manage and streamline syndication. That’s what we’ve built in Crux. By eliminating these obstacles, Crux is powering the clean energy transition.”
Crux is co-founded by Alfred Johnson and Allen Kramer, who previously founded and exited a successful marketplace software company, Mobilize. They are joined by Rob Parker, who serves as Chief Commercial Officer, bringing 20+ years of experience in the power industry and was most recently CFO at Rev Renewables. Since its launch in April, Crux has raised $8.85 million in funding from venture capital and strategic industry investors, launched its platform, and grown its team rapidly, with 15 additional world-class people from energy, finance, and technology joining to power the clean energy transition.
Get our latest insights and favorite reads on the transferable tax credit market in your inbox.
December 3, 2024
Crux is launching the Transaction Hub, a centralized place for developers and manufacturers, tax credit buyers, and advisors to manage, track, and execute transferable tax credit transactions.
Read More
November 20, 2024
Crux helped Rivian structure two tax credit deals in the absence of technology-specific guidance from the Internal Revenue Service, ultimately driving a competitive process and making Rivian's entry into the transferable tax credit market a success.
Read More
October 7, 2024
Crux facilitated one of the industry's first advanced manufacturing tax credit transactions in late 2023. Here's how the deal got done.
Read More
.jpg)
.jpg)
.png)
.png)
