Just over one year ago, the IRS published its final rules and guidance on the transferability of clean energy tax credits. Not only did transferability solve a major flaw in the Inflation Reduction Act’s plan to support clean energy infrastructure development, but, as many founders correctly foresaw, it was about to create an entirely new financial market.
This week, we’re re-releasing our conversation with one of those visionary founders: Alfred Johnson, CEO and Co-Founder of Crux Climate, after a great live conversation we had with Alfred at American Clean Power Association’s 2024 CLEANPOWER expo, which we plan to bring to the pod later this year.
Crux is a software startup revolutionizing clean energy tax credit management, and Alfred is well-suited to break down clean energy tax incentives, share founders' lessons, and talk about the rapidly growing clean energy market, which is expected to receive $3 trillion in investments over the next decade.
A Stanford grad, Alfred Johnson worked for the U.S. Treasury Department and BlackRock before launching his first software company with co-founder Allen Kramer. That company was acquired in 2020, leaving Alfred and Allen ready for their next adventure. And, in 2023, they launched Crux Climate to develop online solutions for organizations to buy and sell clean energy tax credits, helping ensure that capital goes to the impactful startups that need it to scale, and that credits go to those that can actually use them.
Hear Alfred Johnson talk about the founding idea for Crux, how to find an ideal co-founder, and why he thinks tax credit transferability is one of the most influential government policy choices ever made.
Episode Highlights
00:00 Conor introduces ACP CLEANPOWER 2024, Alfred, and Crux
03:04 D.C. upbringing, Stanford, and the intersection of private and public sectors
12:27 The startup bug and launching Crux Climate
18:03 Crux’s core business, finding buyers and sellers, and building scale
26:16 The tax credit marketplace, a new asset class, and the near-term future
32:02 ESG, aligning purpose with profits, and creating sustainable impact
38:51 Advice for young entrepreneurs, leaving a legacy, and finding motivation
45:57 Where to learn more and end credits
If you liked this episode, stay tuned for next week’s live follow-up with Alfred, and in the meantime, listen next to Jonathan Goldberg of Carbon Direct
More on Alfred Johnson and Crux Climate:
cruxclimate.com
linkedin.com/company/cruxclimate
linkedin.com/in/alfredjohnson01
Connect with Conor Gaughan on linkedin.com/in/ckgone and threads.net/@ckgone
Have questions, or a great idea for a potential guest? Email us at
[email protected]
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Consensus in Conversation is a podcast by Consensus Digital Media produced in association with Reasonable Volume.