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About
Summary
Valuation

Founded: 2016

Headquarters: Palo Alto, California

Xpansiv operates the market infrastructure to rapidly scale the world's energy transition. The company runs the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates. Xpansiv is the premier provider of registry infrastructure for the energy, power, and environmental markets. The Company also operates the largest independent platform for managing and selling solar renewable energy credits in North America. Xpansiv is a leading provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets through its Carbon Financial Services and Evolution Markets units. The Company also operates the leading multi-registry, multi-asset environmental portfolio management system, and market data service. Xpansiv's rules-based markets and infrastructure enable stakeholders to deliver transparent, credible, and auditable environmental claims to address the growing global demand for assurance and accountability on climate action and sustainability performance.

Key Facts

1

Environmental, social, and governance (ESG) data can be vast, varied, and complex and is challenging to integrate into decision-making processes. Investors and regulators are also increasingly demanding transparency regarding a company's performance in areas like climate impact, social responsibility, and corporate governance.

2

Moreover, environmental markets are complex and difficult to navigate, with myriad programs that all have separate registries, rules, and obligations (RPS, Carbon, NOx, SO2, etc.). The result is a complex matrix of demands that make it challenging to manage environmental portfolios due to rule changes, accounts across multiple entities, and potentially hundreds of portfolio positions—all of which must be reconciled with risk-management systems.

3

Xpansiv addresses the complexity of managing diverse ESG data, providing businesses with a streamlined solution for aggregation and analysis. By facilitating the integration of ESG factors into decision-making processes, Xpansiv enables companies to align their strategies with sustainable practices. The platform also aids in meeting reporting requirements and compliance standards, fostering transparency and accountability in a rapidly evolving marketplace.

4

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.

5

Xpansiv developed standardized assets that mirror physical commodities, enabling liquidity for registered environmental performance claims.

6

Xpansiv is an innovator in developing new products such as Digital Natural Gas, which tracks vital information like greenhouse gas profiles at the point of production, as well as carbon benchmark products that include the Global Emissions Offset and Nature-Based Global Emissions Offset, providing customers with standardized means to manage their global emissions risk.

7

Xpansiv’s software provides the underlying project data backing up the physical commodity assets. The platform operates a spot exchange and registries, portfolio management systems, a marketplace, and a market data business.

8

Registries allow environmental projects to be reported and tracked. For example, carbon offset registries track offset project information that has been verified by independent third parties including credits generated, ownership, sale, and retirement.

9

Market participants who have accounts in multiple registries can view and manage their holdings and portfolios in one place at Xpansiv.

10

Xpansiv generates market data that feeds into licensing arrangements that the firm has with futures exchanges.

11

Xpansiv also provides end-of-day and historical market data and operates the leading multi-registry portfolio management system for environmental commodities.

12

The company’s main business units include CBL, SRECTrade, APX, H2OX, and OTX.

13

CBL is the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates.

14

CBL has operated in the carbon offset market for more than a decade and has access to 1,000+ projects through partnership agreements with all major carbon standard groups and access to international products.

15

CBL partners with environmental registries to facilitate the trading of compliance and voluntary renewable energy certificates, providing same-day clearance and settlement.

16

SRECTrade is the largest independent platform for managing and selling solar renewable energy credits in North America.

17

APX is the leading provider of registry infrastructure for energy, power, and environmental markets.

18

H2OX is a leading spot exchange for buying and selling water.

19

OTX is a market for emergency reserves of oil products—compulsory stockholding obligations (CSO)—for more than 200 companies in 27 countries.

20

Xpansiv market data and analytics enable market participants to measure, model, and weigh risks and opportunities with greater confidence and clarity. Comprised of firm bid/offer and transaction details, Xpansiv data covers hundreds of project-specific credits as well as Global Emissions Offset (GEO) standardized contracts traded on Xpansiv market CBL.

21

Xpansiv has developed strategic partnerships with CME Group and S&P Global Commodity Insights—two of the largest, most highly regarded names in global commodity markets.

22

CME Group trades futures on CBL’s N-GEO, GEO, and C-GEO contracts, with more than 200 million tons transacted since launch.

23

S&P Global Commodity Insights provides daily assessments of carbon benchmarks via its authoritative, transparent pricing methodology. These assessments are used to settle CBL’s suite of GEO-standardized spot contracts.

24

The Xpansiv Registry is an interoperable platform to transform commodity-production information into standardized digital assets products. Digital assets are created in an immutable data format that accommodates an extensible range of information from a myriad of partners to create differentiated products, issued and managed in the Xpansiv Registry.

25

Xpansiv generates revenue through the sale of ESG data services, offering insights and analytics to businesses and investors. Additionally, the company earns income from providing technology solutions for managing and analyzing ESG data. Xpansiv also charges transaction fees on its marketplaces where participants buy and sell ESG-related commodities.

26

According to Carbon Pulse, Xpansiv expects to post pre-tax profits at the end of 2023 after halving losses and almost doubling revenue to $391 million in 2022.

27

In July 2022, Blackstone announced that funds managed by Blackstone Energy Partners have committed $400 million to lead a strategic investment in Xpansiv. Blackstone’s capital will enable Xpansiv to continue driving growth across both organic initiatives and future acquisitions.

28

In January 2023, Xpansiv announced the completion of its acquisition of Evolution Markets Inc., a leading provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets. The combination of the two companies will expand Xpansiv’s service offerings and product development capabilities to help empower the energy transition.

29

In March 2023, Xpansiv announced that it will offer key technology and intellectual property (IP) components that enable companies to uniquely identify environmental assets. Consistent with its record of innovation and leadership in environmental markets, the company determined that its Environmental Instrument Numbers (EINs), and digital measurement, reporting, and verification (dMRV) IP assets can provide greater utility if licensed to address key, systemic challenges currently inhibiting the energy transition.

30

In January 2024, Xpansiv and Evident, the leading clean economy registry provider and certification body, reached an agreement in which Xpansiv acquired a minority interest in Evident. The investment builds on an existing partnership between Xpansiv and Evident and supports the companies’ mutual goal of enabling the energy transition and certifying the world’s clean economy through independent certification and dynamic markets. Xpansiv’s investment enables Evident to continue its expansion into new regions and products, including Sustainable Aviation Fuel (SAF), green hydrogen, biomethane, and carbon removals.

Industry

Primary Vertical

FinTech

Mosaic Score

100

Money - 100

Momentum - 100

Management - 100

Market - 100

What is a Mosaic Score?

Employees: 500


Key Officers

Name Work History Title Status
officer name 1 Founder Current
officer name 2 Founder Current
officer name 3 Founder Current

Customers

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Key Investors

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Size of Market

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Market Position

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Valuation & Fundraising

Last Round: Jan. 2021, Seed

Valuation Post-Money: $10M

 

Amount Raised: $1M

Total Funds Raised: $10M

 

Linqto Implied Valuation: $10M


Funding Rounds

Date Round Amount Valuation
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M

Valuation Over Time

Linqto Chart

1 buyback

Competitive Landscape

Company Valuation Revenue

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B