Update from CEO & Co-Founder, Pratik Shah

What is Innovo Markets Inc.?
Innovo Markets simplifies the lifecycle of renewable energy certificates (RECs). When energy is produced renewably, these certificates are also created and sold to define who generates, owns, and consumes renewable energy. The status quo processes for this are manual, burdensome, and reliant on expensive intermediaries. Using blockchain, Innovo makes it easy to originate RECs on-chain, trade them on a permissioned exchange, and manage related operations.

Why Renewable Energy Certificates (RECs)?
The continued scale-up of renewable energy, and ultimately a renewables-powered future, is dependent on two critical factors; tech innovation and financial incentives. Improvements in energy capture and battery storage are supporting tech. Feasibility and the sale of RECs enable the financial viability of developing new renewable production plants. However, RECs are currently complex to originate and expensive to sell. We streamline origination and enable access to distribution, simplifying the complex process and reducing the associated costs. By lowering the fees of REC transactions, increasing access to liquidity, and streamlining operations, we can accelerate the world’s transition to renewables.

Where are we now?
We’ve assembled an incredible team and advisory board with deep experience building electronic marketplaces, creating blockchain products, selling to institutions, and even shaping the relevant regulatory landscape. Our product is coming together with a beta expected to go live in the coming weeks, initial letters of intent with key industry players are signed, and we’re in the process of raising a funding round.

Give Innovo Markets Inc. a follow on LinkedIn to stay updated, and please reach out if you’d like to discuss this further.

Renewable Energy CertificatesRECsRenewable Energy