RenewaFi today announced that the United States Patent and Trademark Office granted the company a patent for its renewable energy counterparty matching technology. The patent, titled “Renewable Energy Allocation Based on Guided Position Matching,” protects a RenewaFi system that makes it easier and less expensive for renewable energy professionals to source and complete deals that are critical to building and supporting renewable energy infrastructure.

Noam Yaffe, Founder & CEO, said: “This patent not only protects our intellectual property but also validates that what we’ve built is truly innovative and can benefit society. As a former renewable energy originator, I have responded to requests for proposals that were designed as race-to-the-bottom reverse price auctions – an outdated mechanism that can destroy project economics, cause tremendous contracting delays, and result in poor outcomes like contract re-negotiations. These delays add expenses and ultimately hinder the energy transition. We believe our system can reduce energy contracting timelines by over 90%. The energy transition is an enormous undertaking that will require constant innovation, and we’re thrilled to be making this contribution.”

The patent covers a proprietary system that helps multiple parties communicate, negotiate, and, ultimately, agree to, power-related transactions such as power purchase agreements. By using intelligent, guided matching, the system allows the parties to make more informed decisions in a fraction of the time and cost when compared to a conventional process.

The patent, US 11,360,449 B2,can be accessed here.  

About RenewaFi

RenewaFi is the marketplace for wholesale renewable energy in ERCOT. Built for originators by originators, RenewaFi helps sophisticated market participants source and price their offtake agreements, so they can focus on closing deals. Originators on RenewaFi can browse, post, and counter indicative bids and offers – all anonymously. And when originators agree on terms, they can match to reveal their identities. RenewaFi increases speed to market, facilitates price discovery, and expedites counterparty matching. Ultimately, the company’s mission is to help renewable energy professionals decarbonize America’s electric grids.