Element Markets Renewable Energy, a wholly-owned subsidiary of Element Markets, , sold its 50 millionth Renewable Identification Number (RIN) this week to an undisclosed buyer. RINs are generated when a renewable fuel is produced and used in the transportation sector and is registered under the U.S. EPA Renewable Fuel Standard (RFS).
Under the RFS, refiners and importers are required to retire RINs as proof of compliance with rules requiring the blending of renewable fuels, such as ethanol and biodiesel, into U.S. gasoline and diesel stocks.
Element Markets has repeatedly demonstrated its leadership in this space, including by selling the first RIN futures contract on the Intercontinental Exchange (ICE) in May 2013, registering 3 of the first 4 landfill gas facilities under the RFS, completing the first individualized pathway with a specific carbon intensity under the California Low Carbon Fuel Standard (LCFS) for a landfill gas facility, and registering the first wastewater treatment plant under the RFS and LCFS.
“This is a milestone worth celebrating as 50 million RIN credits is an enormous number,” Element Markets Chief Marketing Officer and founder Randall Lack said. “We are looking forward to continuing to supply our refining clients with igh quality RINs.”
Since its inception, Element Markets has transacted over $1.8 billion in environmental commodities and provides consulting services to dozens of companies across the United States. Element Markets continues to command a leading presence in the biogas, carbon, and renewable energy credit markets.
The company has twice been named “Emissions House of the Year” by Energy Risk Magazine, an award granted to one company globally in the emissions market.
About Element Markets, LLC
Element Markets is a leading renewable natural gas marketing and environmental commodities company that applies its diverse expertise to provide structured environmental compliance and optimization services to prominent corporate and institutional clients. The company has a long history within the emissions, carbon, renewable energy credit, biogas and renewable fuel credit markets. The company has twice been named as the “Emissions House of the Year” by Energy Risk Magazine. Element Markets is headquartered in Houston, Texas and more information about the company is available at www.elementmarkets.com.