“The Genscape B-RIN should be even more valuable than any other QAP provider B-RINs," said David Dunn, a broker with Progressive Fuels Limited.
Louisville, KY (PRWEB) April 10, 2013
Today, Genscape became the first Quality Assurance Plan (QAP) provider to assure QAP-B RINs. There are now 1,058,000 QAP-B RINs available for identification to obligated parties using Genscape’s RIN Integrity Network™, a visual platform where obligated parties identify producers offering QAP RINs. Genscape’s validation process utilizes the company’s proprietary monitoring technology to offer a cost-effective and truly independent solution to ensure producers are meeting the EPA’s RFS2 regulations.
U.S. Biofuels, Inc., a World Energy Solutions biodiesel production facility, is the first RIN generator to attain B-RIN assurance. Genscape B-RINs are validated using the same proprietary technology and monitoring processes as their A-RINs. “The Genscape B-RIN should be even more valuable than any other QAP provider B-RINs because of the rigor and transparency of Genscape’s processes,” says David Dunn, a broker with Progressive Fuels Limited (PFL). “Their model allows for sign-off on all B-RINs from any producer whereas other providers might not get a blanket acceptance because of their plant-by-plant auditing process.” According to PFL, Genscape’s strategic partner for RIN trading, inquiries for one million QAP-B RINs were made by obligated parties in anticipation of their upcoming availability.
"We will continue to communicate with our end user clients as more RINs meet the qualifications for A- and B-RIN assurance," said Susan Olson, Vice President of Products for Agriculture and Biofuels at Genscape.
Through QAP pre-registration on the EPA website, Genscape is able to provide A-RIN and B-RIN assurance in the interim period between January 1, 2013 and the final QAP rulemaking. "The interim period enables obligated parties to take advantage of the benefits of affirmative defense and the A-RIN backing before the rule is final. We are aggressively responding to market demand for QAP'd RINs in the interim period," said Olson.
As a proactive participant in EPA discussions around the QAP proposed rule for more than a year, Genscape has voiced support for strong QAP requirements that will help reestablish a liquid RINs market through increased transparency in pricing and services. Genscape is able to offer a cost effective program which utilizes cutting edge technology and provides value added services that uphold the rigor and integrity of the EPA’s rule.
While other QAP providers are cutting back on their included compliance services for QAP-B RINs and raising minimum pricing across the board, last week, Genscape announced expansions to their QAP program to include a comprehensive suite of compliance services at no additional cost to producers. These services include annual attestation, direct advice on RFS2 compliance with a licensed CPA, RFS2 Engineering Review by an engineer licensed in the facility’s state when needed, full ASTM 6751 panel test, and RFS2 Quarterly Report filing.
Genscape has experts in the biofuels and RIN industry available to share market analysis and help navigate producers’ individual situations. To schedule a one-on-one conversation with a Genscape expert for a custom evaluation of business options and market analysis, call Robert Limp at 866-292-8060. Visit http://www.genscape.com/biofuels to explore the RIN Integrity NetworkTM Biodiesel Industry Dashboard and learn more about the partnership with Progressive Fuels Limited.