Anew Selected as LCFS Partner for U.S. Navy, Port of San Diego Initiative
HOUSTON, September 20, 2022 (Newswire.com) - Anew Climate, LLC ("Anew" or "the Company") has been selected as the exclusive California Low Carbon Fuel Standard (LCFS) service provider to the Port of San Diego in its groundbreaking partnership with the U.S. Navy. The joint Port/Navy initiative, as described in a media event held earlier in the day at Cesar Chavez Park Pier in San Diego that included Navy and Port officials and other state and local partners, will support electrification project development around San Diego Bay. Funding for these projects will be partially sourced from the generation and sale of LCFS credits as facilitated by Anew and will lead to both local air quality benefits and reductions in greenhouse gas emissions.
Anew, a leading provider of climate solutions to public and private organizations, has worked as the Port of San Diego's generator and marketer of LCFS credits since April 2019. Anew has an established record of success supporting client participation in the California LCFS program, which allows electric vehicles and equipment as well as shore power to ocean-going vessels at berth to generate low carbon fuel credits. Through its ongoing support to the Port of San Diego, Anew will generate and monetize the LCFS crediting opportunities associated with the local activities of the U.S. Navy. LCFS credit sales will provide essential funding towards electrification projects benefiting the local community and broader region. In parallel to the Navy agreement, the Port of San Diego and Anew are extending their agreement through 2030.
"We are honored to be a steward of this groundbreaking initiative between the U.S. Navy and Port of San Diego," said Angela Schwarz, CEO of Anew. "We look forward to a partnership that will allow all stakeholders to fully realize the benefits of LCFS program participation, including cleaner air, climate impact, and additional resources for electrification projects."
The Port of San Diego manages 34 miles of the San Diego Bay waterfront. It was the first California port to enter the LCFS market in 2019 and has since partnered with multiple businesses including ship repair facilities and cargo carriers, helping to transition to electric cargo handling equipment, fleet vehicles, shore power, and more in alignment with the Port's Clean Air Plan, its Climate Action Plan, and its Maritime Clean Air Strategy, as well as with California Air Resources Board regulations.
"Working with Anew has been a good experience for the Port," said Job Nelson, Port of San Diego Vice President, Strategy & Policy. "The funds from the LCFS program have helped the Port pay for new shore power at our cruise terminals, new yard tractors at our Tenth Avenue Marine Terminal, and the first two all-electric pickup trucks in the Port's fleet."
Anew has been active in California's LCFS program since inception, providing full-cycle support for all aspects of program compliance and allowing participants to optimize credit-generating opportunities while reducing the carbon intensity of transportation fuels. With an industry-leading track record of new pathways under the LCFS program, Anew has become a leader in credit generation from biogas, electric, compressed natural gas, and hydrogen pathways.
Anew Climate, LLC ("Anew") is accelerating the fight against climate change by enabling any company or organization to align its goals for conservation and impact with actionable next steps. With a comprehensive solutions portfolio that includes advisory services, carbon credits, renewable natural gas, renewable energy credits, EV credits, plastic credits, and emission reduction credits, we lower barriers to participation in environmental markets for clients across the private and public sectors. As a leading marketer and originator of carbon and environmental credits, we bring together strategic finance, regulatory expertise, scientific knowledge, and impact focus to make it possible for businesses to thrive while building a sustainable future. Anew emerged from the February 2022 combination of durational industry leaders Element Markets, LLC and Blue Source, LLC. The company has offices in the U.S., Canada and Europe, and an environmental commodities portfolio that extends across five continents.
About the Port of San Diego
The Port of San Diego serves the people of California as a specially created district, balancing multiple uses on 34 miles along San Diego Bay spanning five cities. Collecting no tax dollars, the Port manages a diverse portfolio to generate revenues that support vital public services and amenities.
The Port champions Maritime, Waterfront Development, Public Safety, Experiences and Environment, all focused on enriching the relationship people and businesses have with our dynamic waterfront. From cargo and cruise terminals to hotels and restaurants, from marinas to museums, from 22 public parks to countless events, the Port contributes to the region's prosperity and remarkable way of life on a daily basis.
Source: Anew Climate, LLC