Xpansiv Announces Acquisition of Evident to Strengthen Global Renewable Energy Markets

• Creates a global clean energy registry leader combining Evident’s and Xpansiv’s renewable energy certificate (REC) registries with over 300 GW of capacity
• Advances Xpansiv’s strategy to expand its global renewable energy and power markets position through acquisition and organic growth

NEW YORK, SHEFFIELD, SYDNEY – November 3, 2025 – Xpansiv® Limited (“Xpansiv”) and Evident Group Limited (“Evident”) today announced an agreement uniting their complementary registry and infrastructure capabilities to support the continued growth of the global renewable energy markets.

The agreement, in which Xpansiv has wholly acquired Evident, follows an earlier, minority investment by Xpansiv in the registry operator and certification body. It combines Evident’s international renewable energy for electricity “I-REC(E)” and other registries with Xpansiv’s North American Renewables Registry (NAR™) and Tradable Instrument for Global Renewables Registry (TIGR™) to establish a preeminent, global REC network with over 300 GW of capacity and more than 4,000 participating companies.

“Today’s announcement reflects the shared goals and close relationship we have developed with Evident as we work to build energy transition solutions at scale, centering on transparent, independent certification and robust infrastructure,” said John Melby, CEO, Xpansiv. “It is also a milestone in our diversification strategy to build out our renewable energy and power markets portfolio to more fully support the global energy transition. Along with our exchange, market execution, and portfolio integration capabilities, we’re making it easier than ever for companies to transact clean energy certificates and meet their sustainability goals.”

Evident’s role as an independent certification body and its governance under the I-TRACK Foundation remain unchanged. Evident will continue to operate as an independent market facilitator for I-REC(E) and other products, under the ongoing oversight of the I-TRACK Foundation and in alignment with the International Attribute Tracking Standard. This governance structure ensures the highest levels of transparency and market integrity.

“The I-TRACK Foundation is looking forward to continuing to support Evident, as an Accredited Code Manager under the I-TRACK Foundation's International Attribute Tracking Standard, as it grows its impact, reach, and innovation across vital and trustworthy EAC markets,” said Dirk Van Evercooren, Chairman of the Board, I-TRACK Foundation.

Users of Evident’s infrastructure can remain confident that the robustness, quality, and reliability of its services will not only be maintained but enhanced. The acquisition will serve as a platform for even greater innovation and continued advancement within the global REC registry sector.

"Through the talent and expertise of our fantastic team, Evident has become the pre-eminent trusted partner for sustainable energy certification across more than 60 countries,” said Ed Everson, Co-Founder, Evident. “Thank you to all those within Evident who have made that success possible."

The acquisition comes as global demand for renewable energy and RECs is growing sharply, driven by electricity consumption by data centers, electric vehicles, and other sources. The International Energy Agency (IEA) projects global renewable electricity capacity will double by 2030, adding 4,600 GW, equal to the combined installed power capacity of China, the European Union, and Japan.

This year, more than 300 million I-REC(E)s were issued by Evident through September, up from 2024’s 290 million full-year total. Since 2015, Evident has grown from supporting a single market to more than 60 countries, serving over 95% of the voluntary renewable energy certificate market outside Europe and North America. In September, the company issued its one billionth I-REC(E). Evident also operates registries for methane emission reduction and sustainable aviation fuel.

“The acquisition of Evident, a premier global registry provider in the fast-growing renewable energy markets, underscores our strategy to expand our comprehensive platform through acquisitions and organic growth,” said Nathan Rockliff, Chief Strategy Officer, Xpansiv.

Xpansiv’s renewable energy network, which also includes leading U.S. compliance registries MIRECS, NC-RETS, NEPOOL, and NYGATS, is integrated via the Xpansiv® Connect™ multi-registry portfolio management system and CBL® spot exchange. With full issuance-to-retirement lifecycle support, participants can manage positions efficiently and trade more confidently.

Marlborough Partners, Deloitte, Clifford Chance, and Ashurst served as advisors to Xpansiv.

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About Xpansiv

Xpansiv operates the market infrastructure to rapidly scale the world’s energy transition. The company runs the largest spot exchange for environmental commodities, including carbon credits and renewable energy certificates. It is the premier provider of registry infrastructure for energy, power, and environmental markets. It also operates the largest independent platform for producing and selling solar renewable energy certificates in North America.

Xpansiv is a leading provider of transaction and advisory services in global carbon, renewable energy, and energy transition markets through its Evolution Markets and Carbon Financial Services units. It also runs the leading multi-registry, multi-asset portfolio management system, and market data service.

Xpansiv’s rules-based markets and infrastructure enable stakeholders to deliver transparent, credible, and auditable environmental claims to address the growing global demand for assurance and accountability on climate action and sustainability performance.

Xpansiv investors include Blackstone Group, Aramco Ventures, Bank of America, Goldman Sachs, Macquarie Group Ltd., S&P Global Ventures, Aware Super, BP Ventures, Commonwealth Bank, and the Australian Clean Energy Finance Corporation.

For more information, please visit www.xpansiv.com

About Evident

Evident is a global authority in the certification of the clean economy and is recognised for its expertise, robust standards, world class registry technology, and collaborative approach. Certifying energy in over 60 countries and servicing consumers in over 150 countries, Evident has been at the forefront of shaping sustainability certification for over 20 years, notably building the I-REC electricity certification service and market.

Evident’s services are supported by a global partner network, including standards bodies, governmental authorities, energy infrastructure operators, specialist auditors, and marketplace innovators. This partner network enables Evident to provide a globally recognised, transparent, robust, and trusted service with local, knowledgeable implementation.

Having certified electricity for over 20 years, Evident recognises the critical importance of ensuring environmental benefits can only be claimed once. Supporting today’s globally connected product supply chains, Evident also certifies gas and sustainable fuels.

For more information, please visit https://evident.global/

Media contact: pr@xpansiv.com