First Trade of Carbon Removal Certificates Matched on Xpansiv’s CBL Spot Exchange

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Xpansiv, the leading market infrastructure provider for the global energy transition, today announced the first CO2 Removal Certificates (CORCs) trade matched on the CBL spot exchange. The transaction was for 1,500 vintage 2022 CORCs from the Ekovilla net-negative carbon cellulose insulation project in Finland.

The CORCs were offered on the exchange by project developer EcoUp Oyj, a Finnish supplier of materials, services, and technology to decarbonize the construction industry. The credits were bought by thyssenkrupp Materials Trading GmbH, a global trading and services company, which established a Voluntary Carbon Credit Desk in 2023.

The CEO of thyssenkrupp Materials Trading, Wolfgang Schnittker, stated: “We are very happy to be the first company to trade CORCS on Xpansiv. We see the need for more technical removal credits to take care of our customers’ needs to contribute to the UN’s climate targets.”

“We are pleased to be the first seller of our engineered net-negative cellulose insulation CORCs on CBL,” said Matti Kaski, CEO, EcoUp Oyj. “CBL’s spot exchange enables us to price and sell our carbon removal credits with greater pre-trade transparency and broader market access, which supports a more robust and effective selling process.”

Trading CORCs on CBL’s spot exchange provides benefits of transparent price discovery, equal market access by all participants, the ability to trade with hundreds of counterparties without bilateral agreements as well as prompt settlement and minimized counterparty credit and performance risks. CBL’s global market share of exchange-traded and settled carbon credits and removals has exceeded 90% for each of the last three years.

“We congratulate thyssenkrupp and EcoUp Oyj on the first trade of CORCs on our spot exchange,” said John Melby, CEO, Xpansiv. “Carbon removals are a vital tool that will play an important role in decarbonizing the planet. We are pleased to list CORCs alongside hundreds of carbon and renewable energy credits traded by leading companies to advance and accelerate the global energy transition.”

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 managing and selling solar renewable energy credits in North America.

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

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