SAN FRANCISCO--(BUSINESS WIRE)--CFEX, Inc. announced today that it has been selected by TotalEnergies, a global integrated energy company and one of the world’s leading renewable developers, to be a part of its accelerator program dedicated to supporting innovations in the renewable industry. Through this opportunity, both companies intend to work together to accelerate the rollout of CFEX’s PPA contract settlement technology to the renewable energy market.

“We are excited to welcome CFEX to TotalEnergies On startup acceleration program. Its PPA contract settlement technology is aligned with our commitment to provide transparency and efficiency to our B2B customers,” said Sophie Mouligneau, TotalEnergies On acceleration program director.

“We are honored to be selected to participate in TotalEnergies On acceleration program and are looking forward to working with the renewable units to address commercial operation challenges of renewable generation assets,” said Jian Zhang, Founder and CEO of CFEX. “Last year, enterprises and utilities bought more than $200 billion in renewable energy from its producers. Most of these transactions were processed manually. Our technology automates these transactions and other commercial operations for buyers and sellers.”

Power Purchase Agreements (PPAs) are widely used by enterprises and utilities to buy renewable energy from its producers to reduce their energy costs and decarbonize their operations. However, PPAs are some of the most complicated contracts whose complexity and variability have long prevented automated settlement between buyers and sellers.

CFEX has developed the industry’s first PPA contract settlement technology to model and configure any complex PPA contracts without customization and use the settlement-grade PPA contract models to automate daily settlement and monthly billing, invoicing, and invoice reconciliation. Today, some of the largest renewable energy buyers and sellers are leveraging CFEX’s technology to improve operational efficiency, reduce transaction costs, minimize billing errors and disputes, and increase transaction transparency and auditability.

About CFEX, Inc.

CFEX is a cloud-based transaction platform that streamlines PPA contract management and automates ongoing transactions between buyers and sellers of Carbon-Free Energy (CFE). By automating otherwise manual processes, CFEX improves operational efficiency, reduces transaction costs, minimizes billing errors and disputes, increases auditability, and ultimately provides a scalable commercial operation platform for renewable industry growth. CFEX is the trademark of CFEX, Inc. For more information, visit www.cfexcloud.com.