Xpansiv is planning an IPO on the Australian Stock Exchange later this year. But right now they are in full M&A mode.
They are cashed up and have started making acquisitions in a massive roll-up play in the carbon markets.
Xpansiv’s trading platform currently hosts over 90% of all voluntary carbon credit transactions globally.
In 2021, Xpansiv recorded $305 million in revenue (~300% higher than the prior-year).
Over 120 million tonnes of carbon were traded on its CBL Exchange last year (a 4x increase over 2020.)
Their platform is used by the largest corporations such as Walmart, Tesla, Chevron, Shell, and Goldman Sachs.
The platform matches companies needing to buy credits (to fulfill their net-zero objectives) and speculators/investors with carbon credit providers.
They recently teased a potential vertical integration acquisition called the “Moonraker” project in their latest investor pitch deck. The transaction is expected to be worth over $100 million.
They also recently announced to acquire a leading provider of registry infrastructure for energy and environmental markets – APX Inc.
Xpansiv had two $100 million funding rounds in the past 2 years and also a $40 million pre-IPO deal.
They are expected to raise more than $500 million in the coming weeks – placing them at a ~$2 Billion market cap ahead of them being publicly traded.
As more and more companies make NetZero pledges, the amount of capital being deployed in the carbon sector is growing every quarter.
Xpansiv CEO, Joe Madden has stated that “it was clear that there were trillions of dollars in mismatch there, and somehow that would have to get reconciled. And markets were where it was going to get reconciled.”
