Crux provides an ecosystem for tax credit buyers to transact and manage transferable tax credits, focusing on efficient finance for the energy transition.

Crux

The platform for sustainable finance, starting with transactions of the new transferable tax credits created by the Inflation Reduction Act.

Our CEO Alfred Johnson joined Sean McMahon on the Renewable Energy SmartPod to discuss the growth in the transferability market in the first half of 2024 and expectations for the second half of the year. 

They cover a range of insights from our Mid-Year Market Intelligence Report, including what’s driving the growth in the market, what developers can do to make their credits more transactable, and how new tax credit buyers are getting involved. 

Stay tuned to the end for a full-circle moment from Crux’s origin story:  
https://lnkd.in/gZt73cwc

Two years ago, the United States enacted the Inflation Reduction Act into federal law. It is the largest investment in clean energy by any nation in the history of the world. 

Since 2022, there have been $444B in investments in clean energy manufacturing and deployment according to the Clean Investment Monitor, creating hundreds of thousands of new jobs. 

In the IRA, lawmakers created a mechanism for clean energy producers and manufacturers to transfer the tax credits they generate to corporate buyers. 

Now, the transferability market is taking off. Our Mid-Year Market Intelligence Report indicates there were between $9-11B in transferable tax credit transactions in the first half of the year. We expect the market to reach $20-25B by the end of 2024. 

Here are 10 achievements to highlight in the two years since the law was passed: https://lnkd.in/gQnjAhDg

We now have $13B in clean energy tax credits live on the platform. Here’s a selection of 2023 credits still available on Crux.

If you’re interested in any of these credits, or learning more about how to transact your own, get in touch with our team: cruxclimate.com/contact

Yesterday, buyers placed over $1B in bids on Crux. It was the largest single day of bids since we launched the platform over a year ago. 

We anticipate the market will continue to accelerate in the second half of 2024, ultimately reaching $20-25B in total transaction volume by the end of the year. Get in touch with our team to learn more about listing your clean energy tax credits on the platform: https://lnkd.in/gnZ_X-CQ

In July, we welcomed nine organizations to CEBA membership.

Membership at CEBA provides a space for real impact to happen through policy and regulatory advocacy, expanding corporate-led innovation, and education.
We look forward to extending CEBA's network and to continuing working toward a carbon-free energy future with energy experts present at the table.

Want to learn more about CEBA’s membership? Read about it here: https://lnkd.in/dzmwfC3z

Here’s an 80-second overview of our Mid-Year Market Intelligence Report highlighting key trends in the transferability market.

Download the full report for more on:
— Average pricing and deal size by credit type
— What makes a credit transact quickly and above market pricing
— The typical transaction timeline, from initial bids to due diligence to final documents
— Trends in tax credit demand and the forward market
— Predictions for the second half of the year

Get your copy: https://lnkd.in/eSMp4e7G

We are excited to share that James Alderson Smith has been promoted to Founding Senior Principal on our Markets & Transactions team. 

This promotion is a recognition of Jim’s hard work, leadership, and significant contributions to Crux since joining the team in early 2023. Jim has facilitated a wide range of deals by building strong relationships and establishing a high level of trust with our customers. He contributes tremendously to our product, hiring efforts, and culture – and we couldn’t be more excited to celebrate this achievement. 

Please join us in congratulating Jim!

“I think as we get towards a more transactable market here, one that is able to accommodate the level of supply that is coming to the market over the coming years, it’ll be really important that these transactions be as efficient as possible.” 

Crux CEO Alfred Johnson spoke with Utility Dive about the transferability market’s rapid growth in the first half of 2024 and key trends highlighted in our Mid-Year Market Intelligence Report, including: 

— Predictions for total size of the market by the end of 2024

— Evolving demand for technologies like advanced manufacturing and bioenergy in the second half of the year

— The importance of speed and transparency in tax credit transactions

See more in Utility Dive: https://lnkd.in/gvy7p2Wx

Join Crux and Greenberg Traurig, LLP on Tuesday, August 6 at 1:00pm ET for an update on the transferability market, including highlights from our just-released Mid-Year Market Intelligence Report. 

Crux CEO Alfred Johnson will join Jeffrey Chester from Greenberg Traurig along with Ted Brandt from Marathon Capital, Timmi Kloster from U.S. Bancorp Impact Finance, and Stuart Murray from BlackRock. Tune in for insights on: 

📈 The rapid growth in transfer activity in the first half of 2024 

🏦The effect of market pricing, transparency, and competition on deal dynamics

🛒 Why buyers are rapidly entering the market and what they look for when evaluating credits

➡️ Predictions for the second half of the year, including estimated market size and the emergence of new highly transactable supply

Register here: https://lnkd.in/gSgkdGTx

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