Crux Climate

Crux Climate

Facilitates transactions of renewable energy tax credits

About Crux Climate

Simplify's Rating
Why Crux Climate is rated
A-
Rated B on Competitive Edge
Rated A on Growth Potential
Rated A on Rating Differentiation

Industries

Energy

Financial Services

Company Size

11-50

Company Stage

Series A

Total Funding

$26.3M

Headquarters

New York City, New York

Founded

2023

Overview

Company Does Not Provide H1B Sponsorship

Crux Climate builds financial infrastructure to support the transition to renewable energy by focusing on transferable tax credits, which are government incentives for renewable energy projects like commercial and industrial solar installations. The company provides a platform that connects developers, tax credit buyers, banks, and financial advisors, making it easier to buy and sell these credits and enhancing market liquidity. Crux generates revenue through transaction and subscription fees, simplifying the management of tax credits for its users. With recent funding, Crux aims to expand its team and improve its software to further support investment in renewable energy.

Simplify Jobs

Simplify's Take

What believers are saying

  • The Inflation Reduction Act boosts the market for Crux's transferable tax credits.
  • Corporate sustainability commitments increase demand for renewable energy projects and tax credits.
  • Crux's growing network enhances liquidity and efficiency in tax credit markets.

What critics are saying

  • Emerging platforms may dilute Crux Climate's market share in transferable tax credits.
  • Regulatory compliance complexity poses challenges as Crux expands to new regions.
  • Fluctuating government policies on renewable energy incentives could impact tax credit demand.

What makes Crux Climate unique

  • Crux Climate offers a unique platform for transferable tax credits in renewable energy.
  • The platform enhances liquidity by connecting developers, buyers, and intermediaries efficiently.
  • Crux's comprehensive ecosystem simplifies complex tax credit transactions for diverse stakeholders.

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Funding

Total Funding

$26.3M

Above

Industry Average

Funded Over

2 Rounds

Notable Investors:
Series A funding typically happens when a startup has a product and some customers, and now needs funding to scale. This money is usually used to grow the team, expand marketing, and improve the product. Venture capital firms are frequently the main investors here.
Series A Funding Comparison
Above Average

Industry standards

$15M
$8.2M
Discord
$15M
Canva
$18.2M
Crux Climate
$100M
GitHub

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Performance Bonus

Remote Work Options

Flexible Work Hours

Stock Options

Paid Vacation

Paid Holidays

Growth & Insights and Company News

Headcount

6 month growth

4%

1 year growth

10%

2 year growth

29%
Technical.ly
Jun 19th, 2024
Dc Money Moves: District Lands $100 Million Federal Grant To Expand Internet Access

It’s been a busy month in the region, with different raises and grants announced throughout. In this Money Moves feature, we highlighted different opportunities for local business owners and fundraising news from DC proper to the Maryland suburbs and Northern Virginia. Get all the details below. First, check out our monthly look at which companies are hiring for tech jobs in the region. See how that’s changed since last month and how much they’re paying in this chart:DC earns federal funds for broadband access. The National Telecommunications and Information Administration awarded DC $100.6 million to increase internet access and roll out digital literacy training in the city, with a focus on Wards 5, 7 and 8

EIN News
Jun 18th, 2024
Crux Adds New Strategic Investors, with over 100 GW in Pipeline, in its Series A Funding

This strategic investment demonstrates resounding industry validation of Crux’s key role building vital financial infrastructure for the energy transition

Technical.ly
Feb 23rd, 2024
Reallist Startups 2024: Meet 20 Dc Startups On The Road To Success

No lie: This annual list doesn’t come together easily. Technical.ly has spent more than a decade cataloging early-stage companies across our markets in our annual RealLIST Startups rosters. Since we started doing this for DC back in 2017, we’ve recognized a whopping 120 capital region ventures as honorees or honorable mentions. That’s a lot. But there were so many more to choose from. If you work in DC-area tech, you know it’s uniquely active and varied

EIN News
Jan 30th, 2024
Crux Raises $18.2 Million Series A Funding Round to Catalyze Sustainable Finance

The round is led by Andreessen Horowitz with participation from existing investors Lowercarbon Capital, New System Ventures, Overture, & The Three Cairns Group.

PR Newswire
Sep 12th, 2023
Crux Platform For Transferring Clean Energy Tax Credits Is Growing Rapidly With Hundreds Of Millions Of Dollars In Transactions In Process And Intermediary Partners Who Represent Billions In Annual Volume

Platform Combines Data, Stakeholder, and Workflow Management Tools, and Largest Network of Intermediaries, Buyers, and SellersFirst-of-its-Kind Ecosystem Empowers Intermediaries to Manage Existing Clients and Reach New Developers and Credit BuyersNEW YORK, Sept. 12, 2023 /PRNewswire/ -- In advance of Climate Week, Crux, the ecosystem for transferable clean energy tax credits, announced that its platform is being used by developers, tax credit buyers, and intermediaries, with hundreds of millions of dollars in deals in process.On the Crux platform, intermediaries use branded portals to manage syndication of credits to existing clients and connect to new developers and credit buyers. By convening buyers, sellers, and intermediaries around the same powerful software, Crux is building the deepest and most liquid market. Buyers can see all available credits and work directly with trusted advisors, while developers can distribute their projects to the widest cross-section of the market."As we approach Climate Week 2023, sustainable finance is taking off," Crux CEO Alfred Johnson said. "Intermediaries will be critical to scaling the new multi hundred billion dollar market for transferable tax credits. Banks, tax advisors, brokers, and syndicators face a common set of challenges: they need access to the entire market to balance supply and demand and branded workflow tools to manage and streamline syndication

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