Confidence in the identification numbers for the government’s Renewable Fuel Standard (RFS) is key to the growth in biodiesel. This article from Biodiesel Magazine says the National Biodiesel Board-backed Genscape RIN (Renewable Identification Number) Integrity Network is helping keep up the confidence that those record-breaking biodiesel production numbers are legit.
Genscape provides U.S. EPA preregistered [quality assurance plans] QAP services and a number of other RIN integrity, RFS and low carbon fuel standard services to more than 40 renewable fuel producers, obligated parties, and midmarketers across three continents.
QAP has translated into increased RIN value for Genscape producers. QAP provides additional value not just for producers with smaller balance sheets or for producers who are new to the industry, but also for larger, well-established producers. In one example, a longstanding biodiesel producer looked to Genscape to provide RIN integrity guidance and proof of RIN assurance to two new buyers. This is an indicator that buyers are starting to rely more on third-party RIN integrity, like QAP, even for larger, more well-established producers.
Using Genscape QAP, producers are making sure they’re getting the best prices for RINs, able to secure longer-term deals, grow their buyer base, and meet the increasing demand for QAP RINs in counterparty agreements.