Xpansiv is the result of the 2019 merge between Xpansiv (founded in 2016) and CBL (founded in 2009). The company has 200+ employees and offices in Sydney, New York, San Francisco, Seattle, Houston, Vancouver, London, Milan, and Bendigo.

Essentially, Xpansiv is a marketplace for proven environmental commodities in 4 specific areas: Carbon (offsets), Water, Renewable Energy (REC), Digital Fuels. The platform connects buyers and sellers of Intelligent Commodities in a global liquidity hub with the objective of accelerating the transition to a net-zero future.

Xpansiv has raised a total of $578.5M in funding over 8 rounds. Their latest funding was raised on Jul 6, 2022 from a Private Equity round. The company is funded by 12 investors from which Blackstone Energy Partners and Commonwealth Bank of Australia are the most recent ones. Finally, Xpansiv has acquired 2 organizations: APX and OTX.

Depending on the market, pricing systems might vary, the only available information is that H2OX charges a fixed fee of $2.20 per megalitre on all allocation trades.

• To be CORSIA eligible, emissions unit criteria must be able to track offsets to avoid double counting, have safeguards in place to avoid environmental and social risks, and have in place verification procedures.
• CORSIA has additionally defined time parameters to ensure the environmental integrity of the credits. CORSIA offsets must ensure that the projects result in genuine or additional GHG reduction.
• C-GEO commodity has a rolling vintage range: To ensure currency, the C-GEO contract has a rolling, six-year vintage range. At mid-year (beginning in 2022) credits from the oldest, 2016 vintage will become ineligible for the contract and vintage 2022 will be added. This mechanism will enable the contract to be used to price longer-dated forward contracts, among other benefits. To accommodate older credits, including those that roll off the C-GEO when the vintage range advances, a second C-GEO contract, the C-GEO-TR, trades alongside the C-GEO. Conforming credits from 2012–2015 are deliverable into the C-GEO-TR, which provides a robust benchmark for the vintage range and sector. Unlike the C-GEO’s rolling vintage range, the C-GEO-TR has an expanding vintage range to ensure older credits remain eligible for delivery into the instrument.

Xpansiv commercializes intelligent commodities in in 4 specific areas:

• Carbon:
• GEO (Global Emissions Offset): market-based solution that sets its foundations an international framework, and is positioned to harmonize the buying and selling of offsets from registries and emission reduction projects around the world. Offsets are high-quality ones that meet stringent eligibility criteria defined by the International Civil Aviation Organization (ICAO) for CORSIA. Contracts are settled and allows for delivery of CORSIA-eligible voluntary carbon offset credits from: Verified Carbon Standard, American Carbon Registry (ACR), and Climate Action Reserve (CAR).
• N-GEO: Developed in response to strong market demand for nature-based solutions, N-GEO contracts are related to specific underlying AFOLU project that meet Verra’s CCB criteria.
• C-GEO (Core Carbon Principles - Aligned Benchmarks for Technology Credits): streamlined solutions. C-GEO contracts are related to energy, renewable tech-based projects. Only eligible credits from the Verra Registry can be delivered into the new contracts.
• ACE (Aviation Carbon Exchange): secure destination for airlines, airports, and other participants to access real-time data with full price transparency. It offers a deep menu of offsets available from projects around the globe, searchable by region, price, type, standard, and vintage. ACE is connected to the main known registries: Verra, Gold Standard, CAR and ACR. ACE can be accessed for trading by all airlines and carbon-market participants, acting as buyers or sellers.
• Water: H2OX is the market purposely built for water trading. H2OX is an independent water exchange that streamlines the electronic trading of water entitlements and allocations for everyone.
• Renewable Energy: CBL partners with environmental registries to facilitate the trading of compliance and voluntary renewable energy certificates (REC) contracts in North America, and Australia.
• Digital Fuels: The program establishes the paradigm of trust that enables the creation of Digital Natural Gas (DNG), a digital representation of the complete physical and energy profile of the underlying physical commodity. This "digital twin" incorporates vital information that was previously invisible to markets, built on immutable data that is traceable to source. DNG establishes a new standard of integrity for Responsibly Sourced Gas (RSG). Standard and certification providers are S&P Global Platts, Clearstone Engineerring, Equitable Origin and Validere.

These intelligent commodities are commercialized in 4 main markets:

• CBL: GEO, N-GEO, C-GEO
• ACE: Aviation Carbon Exchange
• OTX: Renewable fuels and Renewable Fuels Certificates & Compulsory Stockholding Obligations (CSO)
• H2OX: Water market

Additionally, Xpansiv offers solutions across the entire market section, ranging from Market data (XMarket: marketplace) to Portfolio Management and registries.

• Firstly, XSignals reveal insights sourced from authentic daily, historical, and assessed market data into high-quality reference products to support trading, compliance, and risk-management decisions, offering clarity in the pricing and analysis of Intelligent Commodities. Specially, XSignals offers a variety of data products for the Carbon Offset, VCM and US Renewable Energy Credit Markets.
• XPortfolio™ contains our Environmental Management Account (EMA) portfolio management system that makes it easy to manage inventory across multiple registries and asset classes - all from a single interface. EMA provides complete product-lifecycle management, comprehensive support for environmental programs, and a streamlined process to trade ESG products on the CBL exchange.
• XRegistries: Integrates leading and emerging registries, certifications, data providers, and refineries with a global liquidity pool for ESG commodities.