Launching the Crux Transaction Hub: Driving efficiency in tax credit transactions

Today, we’re excited to announce the launch of the Crux Transaction Hub, which provides developers and manufacturers, tax credit buyers, and advisors a single, centralized place to manage, track, and execute transferable tax credit transactions.

We’ve continuously heard from all parties that they want a more efficient process to close deals. We’ve seen that keeping track of the status of open diligence items, legal agreement redlines, closing checklists, and target timelines is a key pain point for deal teams.

The Transaction Hub operates as a central command center to coordinate these steps and keep deals on track and organized, allowing teams to focus on complex deal issues. Like all Crux platform features, the Transaction Hub is powered by our industry-leading insights and market-validated standards.

It’s the most efficient, scalable system for managing tax credit transactions, for everyone from small developers and manufacturers and first-time buyers to veteran market participants and intermediaries closing deals on behalf of dozens of clients.

Central home for transactions

Within the Transaction Hub, users can find details on the project and credit, bid, counterparty, diligence materials, IRS pre-registration status, and key legal docs all in one place. An overall transaction timeline contextualizes each step, helping all parties stay aligned on progress and the path to a successful closing.

The Transaction Hub enables deal teams to run more of their closing process directly on Crux. Advisors can also be invited directly to the platform to support these efforts.

What you’ll find in the Transaction Hub

We’ve added new features to save users time and maximize transaction certainty:

Deal timelines

We provide a target closing timeline based on industry data and buyer and seller preferences. This helps deal teams anticipate next steps and turnaround times.

Online diligence checklists

In partnership with 35+ leading law firms and insurance brokers, we’ve developed the market standard set of checklists specific to each tax credit and technology type. These have been widely used to guide transactions on Crux. Now, we’re making it easier to manage these checklists by bringing the templates into the platform. Developers and manufacturers can populate them directly, including adding custom items relevant to their credit. Buyers can access the information both at a high level while placing a non-binding bid, and in detail once an NDA is in place.

In our 2024 whitepaper, 40% of leading law firms, insurance brokers, advisors, and financial institutions stated that due diligence has been a cause of transaction delay. Our market-validated checklists help remedy this by increasing seller preparedness and overall transparency. 

Automated NDA sharing

Platform users can now upload their organization’s form NDA to their profile. We will automatically share it with counterparties after connecting to expedite the transaction process. Simple but powerful: we’ve already seen this cut out many days in those first deal steps. 

Integrate external data rooms

Starting today, you can use your data room of choice alongside Crux in a single click. 

Market standard agreements

‍In partnership with more than 10 law firms, tax firms, and developers, and informed by data from hundreds of deal documents from Crux platform transactions, we have developed a set of standardized legal documents for tax credit transfers. These are always available to Crux users directly on the platform — today, 70% of transactions on Crux leverage some combination of our diligence checklists, term sheets, and definitive documents.

[Get early access] Term sheet builder

Through a short user questionnaire about key deal terms as well as transaction data that we already collect during the bid process, we will soon be able to autogenerate a term sheet that is customized to your specific transaction, dramatically reducing the amount of back and forth required. If you would like to try this functionality, please reach out to partnerships@cruxclimate.com. 

Powered by data

As always, all of these features are backed by Crux’s industry-leading data set and validated by dozens of legal and tax firms and financial institutions. When driving early alignment on legal terms and diligence items, we focus on the ones most likely to delay or derail transactions historically. When pairing platform users with experts in our partner network, we match based on key factors of users’ unique situations and partners’ track records and specialties. We’ve identified the steps of a transaction with the most friction and complexity, and send automated reminders and guidance. We formulate transaction timelines based on what we’ve seen from comparable successful transactions in the past.

This integration of data is a dynamic process, and we will continuously refine each of these features to serve the needs of the market as it evolves. 

All of this is backed by Crux’s secure platform, which is SOC2 compliant, and already deployed with some of the largest financial institutions and corporations in the world. To try it out or give feedback, please reach out.

What’s next

We are going to be investing a lot more in the Transaction Hub in the coming quarters. Expect enhancements on deal timeline forecasts, data rooms, closing checklists, and post-deal reporting. 

Later this quarter, we’ll release tools specifically for our users managing many transactions simultaneously — making it easy to remember what to do when, and which transactions require attention most urgently. 

We’re also working on ways to make our advisor network more accessible to users on the Crux platform.  Our team makes dozens of introductions for buyers and sellers on our platform to relevant advisors every week. Soon, we’ll make it easier to request and find advisors directly on platform. 

If you’d like to be an early user of upcoming features, please reach out to partnerships@cruxclimate.com.