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NY-XPANSIV

1.8.2022 15:47:07 CEST | Business Wire | Press release

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Xpansiv Acquires APX to Scale Environmental Commodity Market Infrastructure

Xpansiv, the premier market-infrastructure platform for global carbon and environmental commodities, today completed its acquisition of APX, the leader in registry infrastructure for energy and environmental markets. The acquisition brings together two innovators with the technologies and capabilities to empower markets to scale with liquidity and efficiency.

Xpansiv connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits (RECs), and low-carbon fuels—all critical elements of decarbonization. Xpansiv’s growing ecosystem supports companies seeking to meet environmental and emissions reduction goals.

Xpansiv and APX are long-term strategic partners, and Xpansiv exchange CBL is fully integrated with leading registries that operate on APX infrastructure. In March 2022, Xpansiv acquired a 20% minority ownership interest in APX.

Earlier this month, Blackstone announced that funds managed by Blackstone Energy Partners (“Blackstone”) committed $400 million to lead a strategic investment in Xpansiv . Blackstone’s capital injection enabled Xpansiv to complete the APX acquisition.

“The APX addition enables integration across the environmental commodities lifecycle,” said Xpansiv Chief Strategy Officer Nathan Rockliff. “From registry infrastructure to portfolio management, exchange, and market intelligence, we help companies efficiently meet their environmental commitments with the required scale and transparency.”

“Over the years partnering with Xpansiv, our firms have come to share a common vision for high-integrity, scalable market infrastructure,” said APX CEO Joe Varnas. “With our combined capabilities, we’re empowering the world’s transition to clean energy and sustainability.”

"We’re pleased to increase our customer offerings in this space to include APX’s impressive registry tools and services,” said Xpansiv President and COO John Melby. “By expanding our already robust infrastructure, we’re giving market participants the innovative tools needed to scale, and the platform to support their ESG and climate goals.”

Perella Weinberg Partners LP is acting as exclusive financial adviser to Xpansiv, and Venable LLP is acting as its legal adviser. Goldman Sachs & Co. LLC is acting as exclusive financial adviser to APX, while DLA Piper is acting as its legal adviser.

About Xpansiv

Xpansiv provides the market infrastructure and data platform for carbon, renewable, and digital energy commodities. These Intelligent Commodities bring transparency and liquidity to markets, empowering participants to value energy, carbon, and water to meet the challenges of an information-rich, resource-constrained world. The company’s main business units include CBL , the largest spot exchange for ESG commodities, including carbon, renewable energy certificates, and Digital Natural Gas; H2OX , the leading spot exchange for water; XSignals , which provides end-of-day and historical market data; EMA , the leading multi-registry portfolio management system for all environmental commodities; and APX, the leading provider of registry infrastructure for energy and environmental markets. Xpansiv is the digital nexus where sustainability and price signals merge. Xpansiv.com

About APX

APX is the leading provider of innovative technology and dynamic end-to-end service solutions for environmental commodity and power markets. The company’s 25-year history and expertise spans carbon and renewable energy credit markets, sustainable commodity markets, power generation asset management, physical power markets, and demand response program administration. In this capacity, APX serves a diverse set of clients globally, including standards bodies, regulators, government entities, and NGOs. Headquartered in San Jose, California, APX is dedicated to providing leading-edge market solutions on a foundation of trust, integrity, and experience. APX.com

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