Innovo provides digital infrastructure for transacting environmental commodities, focusing on Renewable Energy Certificates (RECs). The platform offers instant settlement, enhanced REC data enrichment, and simplified portfolio management tools. This modernized infrastructure increases transaction speed, lowers costs, and ensures data integrity for compliance and reporting.
Funding
Funding not disclosed
Founders
Product
Problem
The renewable energy certificate (REC) market faces challenges related to inefficient trade capture, inventory management, and settlement processes, often relying on manual methods and disparate systems. This can lead to increased operational costs, delays in transactions, and difficulties in ensuring compliance with environmental regulations.
Solution
Innovo provides a software platform that streamlines and automates the management, transaction, and settlement of renewable energy certificates (RECs) using distributed ledger technology. The platform offers a comprehensive solution for automating back-office and middle-office functions, facilitating instant settlements, and providing robust inventory management. By connecting to multiple registries, Innovo enables real-time data integration and enhanced transparency across the REC market. This allows organizations to efficiently manage their environmental commodities, reduce operational overhead, and accelerate their sustainability initiatives.
Target Audience
Innovo primarily serves companies, brokers, and suppliers involved in the renewable energy market, including those focused on ESG and sustainability initiatives.
Features
- Automated REC origination and retirement processes
- Real-time settlement capabilities through the Innovo Settlement Network (ISN)
- Integration with 11 North American registries for comprehensive market coverage
- Enhanced REC data enrichment with 16 characteristics for improved reporting
- Centralized dashboard for managing multiple portfolios and sub-accounts
- Digital custody and real-time registry integration to prevent settlement failures and double counting
- Comprehensive reporting and compliance tools for RE100, GHG Protocol, SBTi, and CSRD
- Embedded wallets for seamless in-platform transactions
- Secure password reset functionality via email