Xpansiv – the global market infrastructure for registering, managing, trading, and reporting environmental commodities, announced it is completing an acquisition of Evolution Markets Inc., a leading provider of transaction and advisory services in the global carbon, renewable energy, and energy transition markets.
The acquisition will expand Xpansiv’s service offerings and product development capabilities to help drive the energy transition. Evolution Markets’ client will also benefit from expanded services thanks to Xpansiv’s technology infrastructure, market, and data platforms.
“Evolution Markets and Xpansiv are two market leaders who share a common vision of paving the way forward to a successful energy transition using the power of global markets… As our clients manage risk in global energy and environmental markets, we are eager to leverage the capabilities of both organizations to improve overall client outcomes,” said Evan Ard, CEO of Evolution Markets.
Additionally, Xpansiv closed a $125 million capital raise that should grow its service offerings and technology platforms. The raise was linked to the recent $400 million capital raise led by Blackstone Energy Partners which closed in August 2022. New strategic investors are Bank of America and Goldman Sachs which took part in it.
Founded in 2019, Xpansiv has 300+ employees and offices in several locations around the world. The company offers the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates.
The deal should enhance the companies’ abilities to enhance decarbonization infrastructure and play their part in addressing the climate crisis.