Xpansiv, an infrastructure provider for environmental markets, has completed its acquisition of Evolution Markets Inc., a provider of transaction and advisory services in the global carbon, renewable energy, and energy transition markets. The merger of the two companies will expand Xpansiv’s service offerings and product development capabilities to help empower the energy transition. The acquisition will also enhance Evolution Markets’ client services through its integration with 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,” said Evan Ard, CEO, Evolution 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.”
In addition, Xpansiv announced the closing of a $125 million capital raise designed to fuel continued growth in Xpansiv service offerings and the firm’s 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 Bank of America and Goldman Sachs participated in the raise.
“Sustainability is part of discussions in boardrooms and with investors. Robust technology, reliable data, and accessible spot markets are crucial to promoting liquidity and scale growth in voluntary carbon trading and environmental commodities. Bank of America supports innovation in these evolving markets,” said Jim DeMare, President of Global Markets at Bank of America.
“The development of a robust and transparent infrastructure for environmental markets plays a key part in driving energy transition and broader decarbonization,” said Patrick Street, head of Goldman Sachs’ Global Markets Net Zero Solutions. “We support Xpansiv’s effort to develop market infrastructure and trade advisory services to deliver seamless environmental solutions to companies globally.”
“Evolution Markets brings a world-class team of professionals with the same level of focus and dedication to enabling the energy transition and delivering client successes that we strive for every day. We are excited to work with them and our clients to build the future of environmental markets,” said John Melby, CEO, Xpansiv. “Our disciplined acquisition strategy is made possible through the backing of top-tier strategic investors, who share our belief in the environmental markets’ important role in addressing the climate crisis.”
