LOUISVILLE, Ky.–(BUSINESS WIRE)–Genscape, a pioneer in sophisticated and patented monitoring systems, today announces the launch of its RIN Integrity Network. Serving biodiesel producers, marketers, blenders and obligated parties, the service promotes the restoration of integrity and liquidity to the RINs market. Producers join the service through a rigorous auditing process recommended by the National Biodiesel Board RIN Integrity Task Force and continue promoting their integrity through ongoing validation. Ongoing validation includes the industry-recognized, proprietary monitoring capabilities that Genscape has used to bring trusted transparency to energy commodity markets.
“We are confident that producers and obligated parties will see the value in Genscape’s comprehensive auditing and real-time monitoring program. The technology and design are impressive and highly efficient,” said National Biodiesel Board CEO, Joe Jobe.
Recognizing the sense of urgency for biodiesel producers to promote their integrity in the wake of devastating fraud, the RIN Integrity Network™ is being implemented with a fast-to-market, two-phase approach. The initial launch of the service showcases audited plants on a Dashboard map with details of audit compliance that are desired by obligated parties. Dozens of producers are in the onboarding process to be added to the Dashboard. In parallel, ongoing monitoring is being configured for producers that have registered for the service.
“Genscape’s seen a fantastic response from the industry during the development of the RIN Integrity Network. We had over 70 registrations from producers pre-launch and currently have 15 commitments from obligated parties to begin evaluating the service,” said Robert Barton, Chief Operating Officer at Genscape. “Genscape understands the sense of urgency for an industry solution and has pushed hard to meet our May launch date commitment.”
For more information on how Genscape’s new RIN Integrity Network can benefit your biofuel business visit: http://info.genscape.com/RIN.