Crux

Crux operates as a pivotal capital markets platform designed to streamline financing for clean energy and manufacturing projects within the United States. The company was co-founded in 2023 by CEO Alfred Johnson and COO Allen Kramer. This venture marks their second entrepreneurial collaboration, following the successful creation and exit of Mobilize, a marketplace software for mission-driven organizations. Johnson’s background includes a tenure at the U.S. Department of the Treasury during the 2008 financial crisis, an experience that has informed the company’s direction.

The firm's inception was a direct response to the Inflation Reduction Act (IRA), which introduced transferable tax credits to stimulate investment in clean energy. Crux launched its platform to facilitate these transactions, creating a new ecosystem for sustainable finance. The company secured an initial funding of $4.6 million in a round led by Lowercarbon Capital, with participation from various venture partners and strategic individual investors, including Henry Kravis of KKR and Lee Sachs of Gallatin Point. By April 2025, a Series B funding round led by Lowercarbon Capital raised an additional $50 million, bringing total funding to over $77 million. This round included new investors such as Liberty Mutual Strategic Ventures, MassMutual Ventures, and OMERS Ventures.

Crux's primary business revolves around a digital marketplace that connects buyers and sellers of clean energy tax credits, simplifying a complex process and enhancing liquidity. It provides workflow software and a network of advisors to guide parties through due diligence, agreements, and the closing of transactions. Revenue is generated through success fees on these facilitated transactions. The platform serves a diverse client base, including project developers, manufacturers, financial institutions, banks, and corporate buyers seeking to manage their tax liabilities. Beyond tax credits, Crux has expanded its offerings to include a debt marketplace for various loan types such as construction, bridge, and permanent financing, aiming to become a comprehensive capital solutions provider for the entire clean economy.

The platform has demonstrated significant traction, growing its network to over 630 market participants and facilitating numerous tax credit transfers across sectors like solar, battery storage, and geothermal energy. The company’s market intelligence services are built upon a substantial dataset of transaction-level information, offering valuable insights to its clients. With its team of experts in energy, finance, and software, Crux is positioned to address the substantial capital requirements of the ongoing energy transition.

Keywords: clean energy finance, transferable tax credits, Inflation Reduction Act, sustainable finance, capital markets platform, project finance, renewable energy investment, debt marketplace, climate tech, energy transition, tax equity, decarbonization projects, green energy financing, infrastructure finance, environmental markets, corporate sustainability, financial technology, energy manufacturing, project development capital, asset financing