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The RIN (Renewable Identification Number) became the currency of Renewable Fuels in the United States beginning with the original RFS (Renewable Fuel Standard). The RIN system was created by the EPA for the purpose of tracking renewable fuels for the purpose of accountability. The system uses unique (RIN) or renewable identification numbers which are assigned to individual batches of fuel by the fuel's originator or importer. Under RFS2, effective in July 2010, 5 “D” codes (D3 - D7) were established depending on the type of fuel and greenhouse gas reduction achieved, to meet the requirements of renewable use in four categories - Cellulosic Biofuel, Biomass Based-Diesel, Advanced Biofuel and Renewable Fuel.
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The renewable fuel standards establishes as a volume percentage, an amount of renewable fuel required to be used by each refiner, blender or importer to determine their RVO (renewable Volume Obligations) (RVO). There are four separate standards under the RFS2 program and likewise four separate RVOs applicable to each Obligated Party. In order for an Obligated Party to meet its requirements under RFS2, it must retire each year a sufficient number of RINs to meet its RVO in each of the four categories. PFL acts on behalf of producers, refiners, blenders, importers, exporters and other energy market participants to facilitate RIN transactions. By leveraging years of expertise in the brokering of physical biofuels and utilizing our extensive network of customers, we work to ensure our clients satisfaction in all aspects of RIN execution.
