Method and system for exchanging environmental savings acquired by use of alternative fuels

• US 8,498,920 B2
• Filed: 03/05/2008
• Issued: 07/30/2013
• Est. Priority Date: 03/05/2008
• Status: Active Grant

• Current Assignee: Propel Biofuels Inc.
• Original Assignee: Propel Biofuels Inc.
• Inventors: Elam, Rob, Kudriavtseff, Michael
• Primary Examiner(s): Bartley, Kenneth
• Application Number:
  US12/043,074
• Publication Number:
  US 20090228404A1
• Time in Patent Office: 1,973 Days
• Field of Search: 705/35, 705/37, 705/14.1, 705/14.11, 705/14.19, 705/14.34, 705/413
• US Class Current: 705/37
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 50/06 Energy or water supply

Abstract

A method and system to report the environmental benefits of consumers'"'"' purchases of alternative fuels. The system tracks and stores the purchases of customers from a vendor of alternative fuels. The system calculates the environmental savings that a customer generates by using alternative fuel in place of standard fuels. Environmental savings may be calculated in terms of various metrics, including reduced carbon emissions, gasoline not consumed, or other environmental benefits. The system provides a marketplace that allows consumers to receive the benefit of the calculated environmental savings by selling, trading, or retiring the generated savings.

Claims

1. A method performed by a computing system to enable consumers to exchange environmental savings generated by using alternative fuel, the computer system including a processor and a storage area, the method comprising:

receiving, at the computing system, transaction information on purchases of alternative fuel by a customer at one or more fueling stations, the transaction information automatically received as a result of the customer'"'"'s purchases at the one or more fueling stations;

converting, by the computing system, the received transaction information to credits reflecting environmental savings;

presenting, by the computing system, the customer with an indication of the credits associated with the purchases made by customer at the one or more fueling stations and multiple redemption options for which the credits can be redeemed;

receiving from the customer, at the computing system, a first amount of credits to be redeemed in accordance with a first redemption option of the multiple redemption options and a second amount of credits to be redeemed in accordance with a second redemption option of the multiple redemption options; and

causing the received first amount of credits to be redeemed in accordance with the first redemption option and the received second amount of credits to be redeemed in accordance with the second redemption option.

2. The method of claim 1, wherein the redemption option is to exchange the credits for money.

3. The method of claim 1, wherein the redemption option is to donate the credits.

4. The method of claim 1, wherein the redemption option is to retire the credits.

5. The method of claim 1, wherein the redemption option is to exchange the credits for products or services.

6. The method of claim 1, further comprising displaying to the customer a plurality of merchants whose goods or services can be exchanged for the credits.

7. The method of claim 1, further comprising displaying to the customer a history of previous redemptions.

8. The method of claim 1, wherein converting the received transaction to credits reflecting environmental savings comprises calculating a market value of the environmental savings.

9. A system for exchanging environmental savings generated by using alternative fuel, comprising:

a memory storing computer-executable instructions of;

a data receiver component configured to receive transaction information on purchases of alternative fuel by a customer at one or more fueling station, the transaction information automatically received as a result of the customer'"'"'s purchases at the one or more fueling stations;

a data conversion component configured to convert the received transaction information to credits reflecting environmental savings;

a display component configured to present the customer with an indication of the credits associated with purchases made by the customer at one or more fueling stations and multiple redemption options for which the credits can be redeemed; and

a redemption component configured to;

receive from the customer a first amount of credits to be redeemed in accordance with a first redemption option of the multiple redemption options and a second amount of credits to be redeemed in accordance with a second redemption option of the multiple redemption options; and

cause the received first amount of credits to be redeemed in accordance with the first redemption option and the received second amount of credits to be redeemed in accordance with the second redemption option; and

a processor for executing the computer-executable instructions stored in the memory.

10. The system of claim 9, wherein the redemption option is to exchange the credits for money.

11. The system of claim 9, wherein the redemption option is to donate the credits.

12. The system of claim 9, wherein the redemption option is to retire the credits.

13. The system of claim 9, wherein the redemption option is to exchange the credits for products or services.

14. The system of claim 13, wherein the display component further displays to the customer a plurality of merchants whose goods or services can be exchanged for the credits.

15. The system of claim 9, wherein the redemption component stores a history of previous redemptions and the display component further displays to the customer the history of previous redemptions.

16. The system of claim 9, wherein converting the received transaction information to credits reflecting environmental savings comprises calculating a market value of the environmental savings.

17. A non-transitory computer-readable medium containing instructions for controlling a computer system to enable consumers to exchange environmental savings generated by using alternative fuel, by a method comprising:

receiving transaction information on purchases of alternative fuel by a customer at one or more fueling stations, the transaction information automatically received as a result of the customer'"'"'s purchases at the one or more fueling stations;

converting the received transaction information to credits reflecting environmental savings;

presenting the customer with an indication of the credits associated with the purchases made by customer at the one or more fueling stations and multiple redemption options for which the credits can be redeemed;

receiving from the customer a first amount of credits to be redeemed in accordance with a first redemption option of the multiple redemption options and a second amount of credits to be redeemed in accordance with a second redemption option of the multiple redemption options; and

causing the received first amount of credits to be redeemed in accordance with the first redemption option and the received second amount of credits to be redeemed in accordance with the second redemption option.

18. The computer-readable medium of claim 17, wherein the redemption option includes at least one of exchanging the credits for money, donating the credits, retiring the credits, and exchanging the credits for products and services.

19. The computer-readable medium of claim 17, wherein converting the received transaction to credits reflecting environmental savings comprises calculating a market value of the environmental savings.