Xpansiv acquires APX to expand environmental commodity market infrastructure

Xpansiv, the world's premier market infrastructure platform for carbon and green commodities, today completed the acquisition of APX.APX is the leader in registry infrastructure for the energy and environmental markets.Through this acquisition, the combination of two innovators with strong technology and capabilities will improve market liquidity and efficiency, and promote the continuous expansion of the market.

Xpansiv works to bridge buyers and sellers of eco-friendly commodities and provides market data for voluntary carbon offsets, renewable energy credits (RECs) and low-carbon fuels, all key elements of decarbonization.Xpansiv's growing ecosystem supports companies striving to meet environmental and emission reduction goals.

Xpansiv and APX are long-term strategic partners and Xpansiv exchange CBL is fully integrated with leading registries running on APX infrastructure.In March 2022, Xpansiv acquired a 20% minority stake in APX.

Earlier this month, Blackstone Group announced that it will be launched by Blackstone Energy Partners,"Blackstone") managed a fund with a commitment of $400 million to lead a strategic investment in Xpansiv.Thanks to Blackstone's capital injection, Xpansiv was able to complete the acquisition of APX.

Nathan Rockliff, Chief Strategy Officer at Xpansiv, said: "The addition of APX enables us to complete the integration of the entire eco-friendly commodity lifecycle. From registry infrastructure to portfolio management, trading and market intelligence, we help businessesScale and transparency efficiently deliver on environmental commitments.”

APX CEO Joe Varnas said: "We have worked with Xpansiv for many years with a shared vision for a highly integrated, scalable market infrastructure. With our combined capabilities, we are driving the world towards clean energy and sustainableDevelopment and transformation.”

John Melby, President and COO of Xpansiv, said: "We are delighted to introduce APX's impressive range of registry tools and services to provide customers with a richer range of products and services in this space. By extending the already stronginfrastructure, we provide market players with the innovative tools they need to scale and a platform to support their environmental, social and governance (ESG) and climate goals.”

Perella Weinberg Partners LP acted as exclusive financial advisor to Xpansiv and Venable LLP acted as legal advisor.Goldman Sachs acted as exclusive financial advisor to APX and DLA Piper acted as legal advisor.

About Xpansiv

Xpansiv provides market infrastructure and data platforms for carbon, renewable energy and digital energy commodities.These smart commodities bring transparency and liquidity to the market, enabling participants to value energy, carbon and water to meet the challenges of an information-rich but resource-constrained world.The company's main business segments include: the largest ESG commodity spot exchange including carbon, renewable energy certificates and digital natural gas CBL; the leading spot water exchange H2OX; XSignals; the leading multi-registration portfolio management system for all environmentally friendly productsEMA and energyand leading provider of environmental market registry infrastructureAPX.Xpansiv is the digital nexus where sustainability and price signals converge.

About APX

APX is a leading provider of innovative technology and dynamic end-to-end service solutions for the environmental commodity and electricity markets.With a 25-year history, the company's expertise spans carbon and renewable energy credit markets, sustainable commodity markets, generation asset management, physical electricity markets and demand response program management.With these capabilities, APX serves a wide variety of clients around the world, including standards bodies, regulators, government agencies and NGOs.Headquartered in San Jose, California, APX is committed to providing leading market solutions based on trust, integrity and extensive experience.