Blackstone-backed Carbon & Environmental Markets Platform Xpansiv Acquires Markets Infrastructure Provider APX
Global carbon and environmental commodities market infrastructure platform Xpansiv announced today the acquisition of energy and environmental markets registry infrastructure provider APX.
APX provides technology and services for environmental commodity and power markets, with solutions spanning transaction management, registries, scheduling, settlements, demand-side management, asset control, analytics, operations, exchanges, clearing, and brokerage.
The acquisition follows a $400 million strategic investment led by alternative investment manager Blackstone into Xpansiv, aimed at supporting organic and M&A-focused growth initiatives at the company. Xpansiv stated that the capital injection enabled the completion of the APX deal.
Xpansiv Chief Strategy Officer Nathan Rockliff, said:
“The APX addition enables integration across the environmental commodities lifecycle. From registry infrastructure to portfolio management, exchange, and market intelligence, we help companies efficiently meet their environmental commitments with the required scale and transparency.”
Xpansiv provides infrastructure enabling market participants to value and exchange environmental commodities such as carbon, energy and water, and provides market data for voluntary carbon offsets, renewable energy credits (RECs), and low-carbon fuels. The company’s business units include ESG commodities spot exchange CBL, Australia-based water spot exchange H2OX, market data provider XSignals, and ESG-inclusive commodities multi-registry portfolio management system EMA.
According to Xpansiv President and COO John Melby, the acquisition increases the company’s offerings to include APX’s registry tools and services.
“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.”
Xpansiv acquired a 20% minority interest in APX earlier this year, and the companies have been long-term strategic partners, with Xpansiv’s CBL exchange fully integrated with leading registries that operate on APX infrastructure.
APX CEO Joe Varnas, said:
“Over the years partnering with Xpansiv, our firms have come to share a common vision for high-integrity, scalable market infrastructure. With our combined capabilities, we’re empowering the world’s transition to clean energy and sustainability.”