Xpansiv Acquires SRECTrade to Scale Renewable Energy Business and Enter Clean Transportation Market
SYDNEY, NEW YORK, SAN FRANCISCO — Xpansiv Ltd., the global marketplace for ESG commodities, today announced the acquisition of SRECTrade, Inc., an environmental commodity management and transaction platform. SRECTrade is the leading aggregator of solar Renewable Energy Certificates (RECs), with a rapidly expanding business unit focused on clean transportation and Low Carbon Fuel Standard (LCFS) markets.
SRECTrade’s technology platform and presence in REC and LCFS markets complements Xpansiv’s rapidly expanding ESG-commodities platform, which includes environmental-portfolio management and CBL, the world’s largest exchange for RECs, carbon offsets, water, and digital commodity products.
SRECTrade CEO Steven Eisenberg will lead the Xpansiv XPortfolio business, which operates EMA, the environmental market’s leading multi-asset, multi-registry portfolio management system that recently announced more than 1B credits processed.
“Through this combination, we will further accelerate growth across our existing markets and apply our expertise to Xpansiv’s innovative ESG-inclusive commodity platform,” Eisenberg said. “We are excited to join Xpansiv’s impressive team to service our clients during this critical period of growth. Merging our people, platforms, and purpose-driven approaches will advance our joint mission to promote the adoption of clean energy and move toward a net-zero future.”
SRECTrade’s platform manages 870 MW of renewable energy assets across its base of 50,000 customers. Clients include a variety of market participants including competitive electricity and fuel suppliers, utilities, clean transportation fleet operators, developers and installers, and commercial, industrial, and residential asset owners. In the California LCFS market, SRECTrade is the largest independent manager of EV charging station carbon credits across more than 5,000 generating assets.
“Together, SRECTrade and Xpansiv will continue to scale our REC trading and platform businesses, which will deliver tremendous value and technological benefits to customers and markets alike,” said Nathan Rockliff, Chief Strategy Officer at Xpansiv. “We can now enable a wider range of distributed market participants to access wholesale pricing and liquidity on CBL.”
“Joining with SRECTrade will not only scale CBL’s REC market,” said John Melby, Xpansiv President and COO, “but it positions us to bring our core benefits—same-day settlement, no contracting, reduced counterparty risk, and price transparency—to new markets, including clean transportation. This transaction is a key element of our plan to expand operations through both acquisitions and organic growth.”
In September, Xpansiv completed a US$100 million pre-IPO capital raise and announced the acquisition of HVB Markets and Iguanadata, which provide trade advisory, market data products, and technology in carbon, renewables, and energy markets. Carbon trading volumes on Xpansiv’s CBL exchange have surged, surpassing 100 million tons year-to-date for 2021 versus a total of 30 million tons in 2020.
Xpansiv is the global marketplace for ESG-inclusive 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; and EMA, the leading multi-registry portfolio management system for all ESG-inclusive commodities. Xpansiv is the digital nexus where ESG and price signals merge. Xpansiv.com
SRECTrade is a technology driven environmental commodity management and transaction platform. Since 2008, the company has been on a mission to simplify and accelerate how we track and transact energy in our homes, businesses, and vehicles. Clients rely on SRECTrade for trusted advice, management, and transaction solutions to maximize the financial and environmental advantages of adopting clean energy assets. The company’s proprietary technology ensures clients minimize the time, cost, and risk associated with achieving benefits and compliance in clean energy markets. SRECTrade.com