Blackstone Announces $400 Million Investment in Xpansiv, the Leading Global Carbon and Environmental Commodities Exchange Platform
July 06 2022 - 5:00PM
Business Wire
Blackstone announced today that funds managed by Blackstone
Energy Partners (“Blackstone”) have committed $400 million to lead
a strategic investment in Xpansiv Limited (“Xpansiv”), the premier
market-infrastructure platform for global carbon and environmental
commodities.
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Xpansiv connects buyers and sellers of environmental commodities
and provides market data for voluntary carbon offsets, renewable
energy credits (RECs), and low-carbon fuels, each of which are
critical elements of global decarbonization. Xpansiv’s growing
ecosystem supports companies seeking to meet environmental and
emissions reduction goals.
Bilal Khan, Senior Managing Director at Blackstone, said: “We
believe environmental commodities are a critical new asset class
that must scale exponentially to meet climate change mitigation
targets pledged by governments, companies, and entire industries.
Xpansiv is a leader in this space, and we are delighted to provide
the capital and resources to help them further expand their
offerings and accelerate their growth.”
David Foley, Global Head of Blackstone Energy Partners, said:
“As a leading private equity investor in the dynamic energy
transition market, we proactively seek out companies with
entrepreneurial management teams that are well positioned to
benefit from fundamental long-term trends. As more corporations
make net-zero commitments, there is an increasing need to
efficiently connect them with—and indirectly provide funding
for—the most efficient, high-quality developers of CO2 reduction
projects. Xpansiv has a first-mover advantage, and Blackstone’s
investment will enable them to capitalize upon that lead, creating
a uniquely positioned company with ownership of critical software,
technology, and a scalable exchange for trading voluntary carbon
offsets and related environmental products. We believe this market
will experience exponential growth over the next decade.”
"Blackstone's support of the Xpansiv vision for commodity
markets that value ESG is a major milestone and the beginning of a
new chapter for the company," said Xpansiv CEO Joe Madden. "This
partnership will help us solidify our leading position in carbon
and leverage our platform to scale markets and products to
accelerate the energy transition across renewable energy, digital
fuels, and beyond. We're absolutely thrilled with the
partnership."
"We're excited about this long-term commitment from
Blackstone—proof of their ongoing investment in climate solutions,"
said Xpansiv Chief Strategy Officer Nathan Rockliff. "This
partnership will support our strategic path to accelerate our
growth in global commodity markets following the acquisitions of
SRECTrade, HVB, and OTX in 2021, and our investment in APX, the
leading provider of registry infrastructure for energy and
environmental markets."
Blackstone’s capital will enable Xpansiv to continue driving
growth across both organic initiatives and future acquisitions. The
transaction continues Blackstone’s recent thematic investments in
the energy-transition and climate-solutions spaces, which include
Legence and Sphera.
Perella Weinberg Partners LP served as financial advisor, and
Morrison & Foerster LLP and Clifford Chance LLP served as legal
counsel to Xpansiv. Kirkland & Ellis and Clayton Utz served as
legal counsel to Blackstone.
About Blackstone Energy Partners
Blackstone Energy Partners, Blackstone’s energy-focused private
equity business, is a leading energy investor with a successful
long-term record, having invested over $20 billion of equity
globally across a broad range of sectors within the energy
industry. Our investment philosophy is based on backing exceptional
management teams with flexible capital to provide solutions that
help energy companies grow and improve performance, thereby
delivering reliable and affordable energy to meet the needs of the
global community. In the process, we build stronger, larger scale
enterprises, create jobs, and generate lasting value for our
investors, employees, and all stakeholders.
About Xpansiv
Xpansiv is the global marketplace for ESG-inclusive commodities.
Our infrastructure empowers participants to value energy, carbon,
and water to meet the challenges of a 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 in Australia; 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
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version on businesswire.com: https://www.businesswire.com/news/home/20220706005821/en/
Blackstone Kate Holderness kate.holderness@blackstone.com
646-482-8774
Xpansiv Rob Dalton rdalton@xpansiv.com 206-853-8823
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