The partnership will offer AIMS' clients an industry-compliant solution for the acquisition, management and transfer of RINs by initially offering and ultimately integrating Guru Alliance's comprehensive RINs management solution, RINsource, with AIMS' suite of financial [image-nocss] and operations management software systems.
RIN (Renewable Identification Number) is a unique 38-digit serial number assigned to every gallon of renewable fuel when originally manufactured or otherwise introduced into the U.S. marketplace by producers or importers. In September 2007, the U.S. Environmental Protection Agency (EPA) established the Renewable Fuel Standards (RFS) program to monitor and manage the amount of renewable fuels produced or imported in the United States. Significant fines can be assessed daily for noncompliance with the RFS program, up to $32,500.
RINsource is a comprehensive industry compliant and secure web-based platform that enables all registered producers, importers, and obligated parties to manage the acquisition and distribution, record-keeping and reporting of RINs, while complying with industry regulations set by the EPA.
"For over 34 years, we have developed and provided innovative backoffice solutions to the petroleum products marketing industry," said Robert Canterbury, president of Monroe, La.-based AIMS. "Guru Alliance's RINsource is a proven RINS management solution that complements our suite of enterprise solutions we provide our customers, enabling our clients to significantly reduce their administrative and transaction cost per gallon, while ensuring they will be compliant with the continuously changing EPA regulations."
"We are excited about our strategic alliance with AIMS," said James Hoshor, vice president of Omaha, Neb.-based Guru Alliance. "The integration of our RINsource solution will enhance the value AIMS clients already receive today from AIMS technology innovation and suite of enterprise solutions."
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