Renewable energy certification firm Evident has been snapped up by Xpansiv to unite their registry and infrastructure capabilities to support the growth of the global renewable energy markets.
The agreement, in which US group Xpansiv has wholly acquired Sheffield-based 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 global REC network with over 300 GW of capacity and more than 4,000 participating companies.
John Melby, CEO, Xpansiv, said: “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.
“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.
“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.
