Crux Appoints William M. Daley As Senior Advisor

(MENAFN- EIN Presswire)

The former US Secretary of Commerce and Vice Chairman of Wells Fargo will lend his financial and policy expertise to the sustainable finance technology company

I am excited to work closely with Crux to continue the company's impressive growth as the central platform connecting all parties in this new transferable tax equity market.” - Bill DaleyNEW YORK, NY, UNITED STATES, June 6, 2024 /EINPresswire / -- Today, Crux , the central platform for clean energy and manufacturing tax credits, announced the appointment of William M. Daley as Senior Advisor. In this role, Daley brings deep policy, financial, and business acumen built over decades of leadership in the public and private sectors.

Daley served under two Presidential Administrations as White House Chief of Staff and Secretary of Commerce. He has served as Vice Chairman and a member of the Operating Committee at Wells Fargo and JPMorgan Chase. At Wells, he oversaw the bank's Public Affairs unit, which included sustainability, communications, government relations, and brand. This high level experience at some of the country's leading banks will be critical given the centrality of banks to the continued rapid evolution of sustainable finance. Daley has steered some of the nation's largest and most significant companies through appointments to their Boards of Directors, including Abbott Laboratories; Boston Properties, Inc; Electronic Data Systems (EDS); Merck & Co; and The Boeing Company.

Launched in January 2023, Crux is changing the way clean energy and decarbonization projects are financed in the United States, starting with transactions of the new transferable clean energy tax credits created by the Inflation Reduction Act (IRA). This new transferable tax equity market allows, for the first time, clean energy developers and manufacturers to sell their tax credits to third parties for cash - creating a powerful market mechanism to channel private sector investments into energy infrastructure, innovative technologies, and advanced manufacturing.

“Economic growth in the twenty-first century is inextricably tied to our energy system, and it is the projects being built today that will define the economy's progress or constraint,” said Bill Daley.“I am excited to work closely with Crux co-founders Alfred Johnson and Allen Kramer to continue the company's impressive growth as the central platform connecting all parties in this new transferable tax equity market, which is already accelerating financing for clean energy and advanced manufacturing in the United States.”

“We founded Crux to best serve this new market, which requires building a multi-disciplinary team that weaves together expertise across the industries of finance, tax, policy, energy, and technology,” said Alfred Johnson, CEO and co-founder of Crux.“We are thrilled to welcome Bill to the team as Senior Advisor to provide counsel and help guide the company to even greater impact and success. Bill's unique experience serving at the highest levels of government and the most senior positions in banking and business will be an enormous asset to the company and our partners in this period of continued rapid growth.

This announcement comes shortly on the heels of the company's May announcement that Crux would be the exclusive tax credit provider for the American Clean Power Association whose 800+ members will generate the overwhelming majority of credits in the years to come.

Crux has raised over $27 million in strategic and venture capital. The company works with hundreds of partners in the new transferable tax equity market, has over $10 billion of credits currently available for sale, and provides instantaneous access to billions of dollars of active buy-side interest. To date, Crux has closed deals across solar, standalone storage, microgrids, bioenergy and renewable natural gas, and advanced manufacturing, including recently announced deals with Schneider Electric and Silfab Solar , Virentis Advisors, and enXchange. Crux facilitated some of the first transferable tax credit transactions for those technology and credit types.

For more information on Crux, please visit .

###

ABOUT CRUX: Crux is a sustainable finance technology company changing the way clean energy and decarbonization projects are financed in the U.S. The company's first offering is the ecosystem for buyers, sellers, and intermediaries to transact and manage transferable tax credits. Since its launch in 2023, Crux has raised over $27 million in funding from venture capital and strategic investors and built a world-class team that merges expertise from energy, tax, finance, government, and technology to power the clean energy transition. For more information, visit .

Press Office
Crux
...
Visit us on social media:
X
LinkedIn

MENAFN06062024003118003196ID1108304606