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F & F Oil Co. Selects RINsource from Guru Alliance

Industry compliant secure web-based RIN management solution

Omaha, Nebraska – July 27, 2009 – Guru Alliance, a multi-national software development and outsource solutions provider for the Petroleum industry, announced today that F & F Oil, a Midwest-based wholesaler of renewable fuels, has selected Guru Alliance’s RIN management solution – RINsource.

In 2007, the EPA established a program called Renewable Fuel Standard (RFS).  The RFS program was established to monitor and manage the amount of renewable fuels produced or imported in the US.  A unique 38-digit number, called a RIN (Renewable Identification Number), was created as part of the RFS program.  A RIN is required and must be assigned to every gallon of renewable fuel manufactured or introduced into the US marketplace by producers or importers.  With the advent of the RFS program created the need for wholesale distributors and producers of renewable fuels to dedicate resources to ensure their compliance with this program. 

With the new challenges and recordkeeping required by the RFS for the selling of renewable fuels, F & F Oil also needed to find a RIN management solution that would integrate with their back-office and accounting system, COMPAS from AIMS. 

“As a wholesaler of renewable fuels, it is important that we comply with industry regulations, and deliver accurate and timely information associated with every transaction,” said Mike Foster, President, F & F Oil.  “RINsource has enabled us to improve the acquisition and management of our RINs, while reducing operational cost associated with each transaction of the renewable fuels, ensuring we comply with EPA regulations.”

The integration of RINsource with COMPAS is a natural progression for F & F Oil.  Significant gains in efficiency and accuracy have been recognized by F & F Oil to date through the implementation of an electronic BOL import, automated tax-deferent and reporting, and customer EFT receipts collection offered in COMPAS. Building on that success, RINsource now enables F & F Oil to make RIN management and reporting as efficient and accurate as F & F Oil’s accounting process has become with COMPAS.

“F & F Oil’s selection of RINsource is further validation that our solution provides companies with confidence and assurance that their RIN transactions comply with EPA regulations,” said Sri Devi, Chief Executive Officer / President, Guru Alliance.  “With a secure user-friendly web-based platform for managing RIN transactions, RINsource also improves operational efficiencies, by virtually eliminating the transactional and administrative cost incurred by manual processing and management of RINs.”

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