Xpansiv Announces Acquisition of Evident to Strengthen Global Renewable Energy Markets

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.

For more information, please visit www.xpansiv.com and https://evident.global/.

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