Xpansiv

Xpansiv is a carbon and ESG commodities exchange that connects buyers and sellers by providing market-driven data insights for voluntary carbon offsets, renewable energy credits, and low-carbon fuels. The company was acquired by CBL Markets in June 2019; hence, it operates as a separate business entity. Xpansiv’s core business units include CBL (the largest spot exchange for environmental commodities), H2OX (spot exchange for water), XSignals (daily and historical market data), EMA (multi-registry portfolio management system for all environmental commodities), and APX (registry infrastructure for energy and environmental markets). In November 2022, the company launched CBL Auctions to trade carbon credits. In September 2023, Xpansiv launched live bids and offers on its CBL to accelerate price discovery and liquidity formation.

In August 2022, Xpansiv acquired APX, a provider of registry infrastructure, where the company acquired a 20% minority stake previously in March 2022. In January 2023, Xpansiv also completed the acquisition of Evolution Markets, a financial services provider, post the deal closure, Evolution Markets operated as a wholly owned subsidiary of Xpansiv.

Funding and financials

Xpansiv’s most recent funding round was in January 2023, where the company raised USD 125 million led by existing investor Blackstone Energy Partners, and this funding was linked to the USD 400 million private equity raise in July 2022, led by the same investor. The funds were used to support the growth of the company, with organic initiatives and new acquisitions.