Xpansiv CBL Holding Group Limited, the global market for Intelligent Commodities, announced that it has acquired Project OTX Limited (OTX), making it a wholly-owned subsidiary of Xpansiv.
Founded in 2013 by Francesco Dolci and Amedeo Giammattei and incubated by AitherCO2, OTX is a leading market-access provider for Compulsory Stockholding Obligations (CSO), rapidly expanding into renewable fuels and renewable fuel certificates. With operations in London and Milan, OTX provides voice and electronic market access to more than 200 customers in 27 countries. In 2014, OTX developed and launched the first electronic platform for the exchange of CSO tickets.
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The acquisition marks Xpansiv’s formal entry into the U.K. and Europe, both at the forefront of ESG and market innovation. The companies’ customer bases are complementary—seeking solutions in the energy transition—and will benefit from access to an ESG-centric platform that will incorporate conventional and bio-based fuels.
“This is an exciting new chapter for Xpansiv as we get ready to enter the global fuels market,” said Xpansiv Chief Strategy Officer Nathan Rockliff. “There are multiple synergies between OTX and Xpansiv—we’re expanding the potential of both companies.”
“OTX will provide new opportunities across the Xpansiv platform,” said Xpansiv CEO Joe Madden. “CBL products like the Global Emissions Offset™ and the recently announced N-GEO™ help address immediate ESG exposure, while OTX can expand the application of Digital Feedstock to underlying fuels.”
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“We’re delighted to join Xpansiv,” said OTX co-founder Francesco Dolci. “We look forward to expanding the range of products offered to our customers. The potential for cross-selling is extraordinary.”
“Now we can better support our customers with the greatest exposure to climate risk—refiners, oil majors, cement companies—in achieving their climate impact reduction goals,” added OTX co-founder and Managing Director Amedeo Giammattei.
Xpansiv and OTX have a long history together. “OTX’s innovative culture—combined with their core competency in markets, physical commodities, and ESG—is unique and directly aligned with our approach to the energy transition,” said Xpansiv President and COO John Melby. “We’re confident that together we’ll accelerate the convergence of ESG and conventional commodities.”
This transaction, on which Gestio Capital acted as financial sponsor to OTX, marks another milestone on Xpansiv’s strategic-acquisition path to advance its market position, expand into new geographies, and accelerate its growth in global commodity products. It follows the acquisition of Venus in 2020 and the Environmental Management Account platform from APX, Inc. in 2019.
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