Xpansiv Enters Agreement to Acquire APX to Integrate Global ESG Market Infrastructure
SYDNEY, NEW YORK, SAN FRANCISCO – 2 March 2022 — Xpansiv, the global marketplace for ESG commodities, today announced a definitive agreement to acquire a 100% ownership stake in APX, Inc., the leading provider of registry infrastructure for energy and environmental markets. Upon receipt of regulatory approvals, Xpansiv will initially acquire a 20% minority ownership interest in APX and is expected to acquire the remaining stake later this year.
The parties have previously partnered to launch various spot contracts for voluntary carbon and renewable energy credits, and in 2019 Xpansiv acquired EMA from APX. EMA is the leading multi-registry environmental portfolio management system, through which more than 1 billion environmental credits were processed in 2021. Since the acquisition, Xpansiv has added the New York Generation Attribute System (NYGATS) and American Carbon Registry (ACR) to the network of integrated registries.
“The proposed acquisition of APX will strengthen our existing market structure while improving user experience for global clients,” said Xpansiv Chief Strategy Officer Nathan Rockliff. “Together our two companies will continue to improve the global ESG infrastructure to help accelerate the energy transition.”
“Over the years of working closely with Xpansiv, our firms have come to share a common vision of what’s needed to build high-integrity, scalable market infrastructure to provide the greatest possible utility and efficiency to participants,” said APX CEO Joe Varnas. “This further enables both companies to build and deliver the innovative, enhanced technology infrastructure required to drive the energy transition.”
“Our longstanding strategic partnership with APX enables us to continue to improve the technology backbone of environmental markets,” said Xpansiv President and COO John Melby. “We’re supporting thousands of companies, organizations, and governments implementing robust carbon programs, as well as project developers and key stakeholders.”
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 LLP is acting as its legal adviser.
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
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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