SYDNEY, NEW YORK, SAN FRANCISCO – 14 January 2021 — Xpansiv CBL Holding Group Limited (Xpansiv) today announced its successful pre-IPO capital raise from existing and new investors. Xpansiv had targeted US$35M for the raise but increased the amount to US$40M to accommodate investor demand. The company also announced that it intends to undertake an Initial Public Offering in 2021 and list on the Australian Stock Exchange (ASX).
“Subject to market conditions, all key existing and potential investors are supportive of the plan to list on the ASX in 2021,” said Xpansiv CEO Joe Madden. “The capital will be used to fund growth initiatives that continue to strategically position Xpansiv for success.”
The funding round, led by Shaw and Partners, includes existing investors and prominent new Australian investors. “We greatly appreciate the participation of Australia’s elite institutions joining our strategic investors in this oversubscribed capital funding,” said Xpansiv Executive Chairman Will Stewart. “Their investment bolsters our vision that leading-edge science, technology, and market-based solutions will play a critical role enabling the transition to a low-carbon future.”
Xpansiv was formed in August 2019 through the merger of Sydney-based CBL, a leading commodity spot exchange co-founded by Ben Stuart and Nathan Rockliff, and San Francisco–based Xpansiv, a next-generation ESG commodities platform. The merger created an integrated, global spot commodity marketplace.
Xpansiv taps into growing demand for ESG-inclusive products that incorporate detailed, immutable data. Xpansiv combines real-time production monitoring, data science, certifiable standards, and distributed ledger technologies to refine, characterize, and convert commodity data into digital assets that can be transacted without risk to counterparties.
The company’s ecosystem of Intelligent Commodities™—like RECs, carbon offsets, and differentiated fuels—provides a clear path to action for companies seeking to meet voluntary and compliance-based ESG goals.
“Xpansiv is perfectly positioned to grow, and an Australian listing will help drive progress,” said Ben Stuart, Xpansiv Chief Commercial Officer. “We’re focused on a strategic path to advance our market position and accelerate the growth of commodity products on our exchange platform.”
In addition to its global marketplace, Xpansiv is also an innovator in developing new products like Digital Natural Gas™ (DNG™), which tracks information such as GHG profiles at the point of production, and the Global Emissions Offset™ (GEO™), which streamlines the purchase of high-quality offsets, establishing a benchmark that brings scale, transparency, and liquidity to voluntary offset markets worldwide.
In 2020, trading volumes on Xpansiv’s CBL spot exchange grew by more than 172% over the previous year (Nov.–Nov.), and the company launched its XSignals market data business, along with pioneering initiatives like the Aviation Carbon Exchange (ACE) and H2OX mobile app that enables customers to connect to global commodity markets anytime, anywhere.
“The timing for Xpansiv is now,” Madden said. “We believe ESG-based commodities are an entirely new asset class, and the markets where they trade must scale exponentially to meet climate-mitigation targets pledged by governments, companies, and entire industries. Xpansiv is at the forefront of this wave, and we now have additional resources to expand our leadership position.”
Xpansiv is the world’s first commodity marketplace built for a data-rich, resource-constrained world. We bring transparency to global markets through innovative, ESG-inclusive commodity products and price information. The company’s main business units include XMarkets, XSignals, and XRegistries. Xpansiv.com
Xpansiv company CBL provides access to the world’s energy and environmental commodity markets, facilitating the secure and seamless trading of commodities like carbon, renewable energy, water, and gas. cblmarkets.com