|
Laxman Pai, Opalesque Asia: US private equity giant Blackstone said its energy-focused private equity business Blackstone Energy Partners will invest $400 million in Xpansiv Ltd., a platform that lets investors trade assets tied to the energy transition such as carbon offsets and renewable-energy credits.
The capital commitment by Blackstone Energy Partners will help Xpansiv to progress its plan to expand organically and through acquisitions, said a press release from the energy investor.
Xpansiv, a global marketplace for ESG-inclusive commodities, connects buyers and sellers of environmental commodities and provides market data for voluntary carbon offsets, renewable energy credits, and low-carbon fuels.
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...................... To view our full article Click here
|
RSS
