by Staff Writers
Louisville KY (SPX) Feb 12, 2013
Genscape has announced its strategic partnership with Murex, a leading global marketer and distributor of renewable fuels, crude oil and RINs.
Genscape will be the exclusive provider of QAP-A services for RINs marketed by Murex. As a result, Murex becomes the first RIN marketer to promote QAP-A RINs, the most robust and worry-free RIN qualification system.
"We look forward to working with Genscape and are excited about what this announcement will bring to the marketplace," says Robert C. Wright, president of Murex LLC.
In a June 2012 press release, Murex highlighted 100 percent validity of the 7.6 billion RIN transactions they processed under the renewable fuel standards program. By working with Genscape, Murex will continue its guarantee of 100 percent RIN validity while expanding its core marketing business.
"Our partnership with Genscape is an important step in helping to restore liquidity within the RIN market. By offering both QAP-A and QAP-B services, this program will be one of the most rigorous due diligence processes in the industry. This partnership allows Murex to offer our customers an unparalleled confidence when purchasing RINs," Wright says.
Genscape is the only QAP provider to announce that it will provide QAP-A RINs. Genscape is also the first QAP provider to announce that it will offer both QAP-A and -B services to provide flexibility to serve an ever-changing market.
These services use independent physical monitoring to avoid placing a heavy documentation and audit burden onto producers.
"We have designed our services to be minimally intrusive to producers and to put the burden of labor on Genscape, not the producer," says Robert Barton, Genscape managing director. "This strategy also drives down the cost of the services compared to numerous audits."
The strategic partnership with Murex also offers Genscape clients another solution for selling their RINs, says Barton.
"With a partner like Murex, our producers now have ready access to a premier RIN marketing service with extensive counterparty relationships in the RINs market. The partnership will help us accomplish the ultimate goal of Genscape's clients getting the best prices for their RINs."
Genscape RIN Integrity Network
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