Funds Transfer Agent Agreement
Panelists:
Joe Chow, Supplier Diversity Manager, SoCalGas
Christopher J. Freitas, Senior Program Manager for Methane Mitigation R&D, Office of Fossil Energy and Carbon Management, United States Department of Energy
Will Johnson, President, Visage Energy
Securing capital remains a paramount obstacle for diverse business enterprises(DBEs). When capital for growth is crucial for the expansion of DBEs, especially for significant acquisitions like fuel or large-scale procurement equipment, navigating such hurdles intensifies. For over two decades, an impactful yet often overlooked financial tool has been available, endorsed by the Controller of the Currency, Administrator of National Banks, has been in place to assist DBEs in accessing fuel procurement markets.
The Funds Transfer Agent Agreement (FTAA) was uniquely conceived through a collaboration between the US Department of Energy, Southern California Gas Company (currently known as SoCalGas), and Visage Energy in the 1990s. A major barrier to DBE participation in energy procurement was surmounted and the principles of the FTAA have been used successfully to finance billions of dollars of natural gas purchases by certified DBEs.
Please join NUDC on Tuesday, December 5th at 10:00 am PST as we learn about the history of the FTAA, its present-day applications, and further explore emerging opportunities for diverse businesses to leverage this unique financing mechanism.
