Molecule Launches Energy Risk Management Software for Growing Renewables Sector

Molecule
Molecule-Launches-Energy-Risk-Management-Software-for-Growing-Renewables-Sector

Molecule announces the launch of its latest product, Hive, to handle data related to renewables commodities and products. Hive delivers a set of customized reports and models that risk managers need to handle the nuanced lifecycle of renewables trades.

Hive lets risk managers and leaders of renewables trading desks avoid mistakes and frustration caused by the clunky existing systems they use to manage their renewable trades. Another customer segment is the growing set of companies who manage full or partial lifecycles of renewable credits – such as independent power producers (IPPs), retail electric providers (REPs), and transportation companies.

Common questions customers seek to answer include:

  • Which certificates are available that we haven’t yet retired?
  • Which credits have we sold and are required to deliver?
  • What optionality do I have around the eligibility of the credits in my portfolio?

Also Read: Strengthening Enterprise Cybersecurity Readiness throughout the Supply Chain

“Renewables trading is growing rapidly, and the industry is coalescing around a set of standard instruments that everyone – producers, consumers, and liquidity providers – need to manage. We’ve taken our learnings from six years’ worth of experience in renewables, and are excited to deliver them in a powerful, consistent, and easy-to-use new product line from Molecule,” says Sameer Soleja, Founder and CEO of Molecule.

Companies trade a variety of renewable commodities and product types. These include renewable energy credits (RECs), renewable identification numbers (RINs), regional greenhouse gas initiative contracts (RGGIs), carbon credits, and carbon offsets. Each type of trade has custom characteristics that risk managers need to track and manage.

For more such updates follow us on Google News ITsecuritywire News. Please subscribe to our Newsletter for more updates.